SMBs seeing AI investment returns globally

Recent Intuit research has revealed a reversal of past sentiment regarding the impact of AI on growth, with many small and mid-sized businesses harnessing AI for expansion and efficiency rather than labour replacement.

Intuit’s 2026 AI Impact Report indicates that AI is now mainstream, with 69 per cent of businesses in Australia using AI regularly, 69 per cent in Canada, 70 per cent in the UK and 77 per cent in the US. Uptake itself has been incredibly fast, nearly doubling from a 40 per cent proportion in July 2024 to its current rate in Australia alone.

Combining data from more than 5.3 million businesses using QuickBooks, and a survey of over 30,000 businesses in Australia, the US, the UK and Canada, the findings sing a new song regarding AI and labour reduction.

Across all four regions, more businesses saw increased employment as a result of AI than a reduction. Looking at AI-incorporated businesses in Australia, 19 per cent saw a positive impact on employment, compared to 6 per cent that saw an associated decline.

Regarding revenue growth, approximately 43 per cent of Australian businesses saw an AI-related increase, with less than 5 per cent seeing a decline. In addition, a quarter of businesses saw reduced costs.

Intuit APAC regional vice president Suzy Nicoletti said the productivity and revenue gains the firm is seeing among Australian businesses that have genuinely integrated AI aren’t marginal, “they’re the difference between a business that grows and one that treads water”.

However, not all businesses are reaching these heights, and it remains that many small businesses in particular are reluctant to make the commitment to AI that will reportedly deliver such returns; a hold-up which Nicoletti identified is due to “privacy concerns, limited knowledge of what AI can do, and fear of getting it wrong”.

“That’s a confidence problem, and confidence problems have a solution,” she said.

“Australia’s 40,000-plus accountants and bookkeepers are already trusted by practically every small business in the country. Equip them well on AI, and you close the confidence gap at scale.”

Australian Chamber of Commerce and Industry (ACCI) CEO Andrew McKellar said: “This data shows how important AI, or indeed any productivity-improving tool, is for Australian small businesses.”

“These findings should provide more businesses with the confidence to turn AI curiosity into action.”

In light of the federal budget release, Intuit has called for more financial support for small businesses that are struggling to implement AI effectively.

While acknowledging the confirmed instant asset write-off measure as permanent and multimillion-dollar investment in the Consumer Data Right, the government was criticised for not including “a direct adoption subsidy for AI-enabled or digital tools”, despite numerous campaigns to support small businesses by making AI technology more accessible.

McKellar said: “AI adoption is now a competitive imperative, and ACCI is supporting small and mid-sized businesses to build the digital capacity and confidence needed to adopt it.”

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