Small businesses in fast growing economies like Singapore are under considerable pressure. They’re facing rising costs, the need to keep pace with a rapidly evolving digital environment, and intense competition operating in the world’s most competitive economy.
Business is moving at warp speed, and teams are struggling to keep up. Marketing tactics that worked last year are now obsolete. Sales playbooks that used to be reliable are outdated. Customer service expectations have skyrocketed beyond what most teams can handle. In fact, research found that as many as seven in ten (71 per cent) Singapore businesses felt that their growth tactics were becoming less effective.
AI is playing a significant role in driving these shifts. While it has the promise to be a change agent, it feels like there’s a new tool for companies to adopt every other week, leaving them scrambling to keep up while they try to grow their businesses.
Despite the strong focus on AI innovation and adoption in Singapore, a HubSpot study found that more than seven in ten (73 per cent) of local organisations had not officially implemented AI, suggesting that gaps between AI strategies and operational realities like a lack of quality, unified data continue to persist.
“Persistent economic headwinds have made digital tools like AI a business necessity for SMBs, who need to maximise efficiency and growth with only limited resources,” said Dan Bognar, VP & MD, JAPAC at HubSpot.
“Success today is dependent on solutions that deliver immediate business value. That means solutions that are fast to implement, easy to use, and unify customer data.
There is a clear need for SMBs to reinvent their business, but many businesses don’t know where to start with digital tools or AI. They’re reading headlines about custom-built solutions at enterprise companies with unlimited resources, but the tools they try overpromise and underdeliver.
Take AI agents: most have the same problem as disconnected apps—they’re working in silos and not sharing data. Hubpot data also indicates that nearly eight in ten (77 per cent) Singapore businesses do not have enough or the right data to make their AI usage effective. SMBs are missing solutions built for them that deliver the value they need.
“SMBs don’t need more AI hype—they need practical AI capabilities focused on addressing marketing, sales and service use cases,” said Bognar.
