In 2023, the impact of generative AI on small and medium-sized businesses became evident as it provided them with new tools to enhance growth, efficiency, and revenue generation. Business owners leveraged AI tools like Gemini to create ad campaigns, reach out to new customers through Performance Max, improve customer response time, and generate valuable business insights quickly, thus saving significant time compared to traditional methods.
This marks just the starting point of a broader trend, as AI-powered tools are poised to empower businesses and communities to boost productivity, foster creativity, and explore new opportunities in the coming years. According to a study by Connected Council, 82% of small business leaders who are already utilizing AI anticipate a substantial enhancement in their business productivity within the next two years.
Embracing Innovation for Business Expansion
Numerous companies have ventured into the realm of AI tools to scale their operations. For instance, Ivo Machado, the co-founder and CEO of Wisecut, left his homeland, Brazil, eight years ago to explore fresh possibilities in the United States. Initially involved in video editing to sustain himself, Ivo delved into the realm of AI, pondering the idea of an algorithm that could expedite editing decisions from hours to minutes. Collaborating with his brother Vicente, a software developer, they established Wisecut in Miami in 2019.
In their growth journey, Wisecut leveraged Google Search to expand their customer base, engaged with the Google for Startups Latino Founders Fund, and witnessed remarkable progress in 2023, experiencing a 4,000% surge in users and tripling their workforce. Presently, half a million creators rely on Wisecut’s AI features to automate tasks like cutting, editing, adding subtitles, and more, saving substantial time and effort in the process.
