Data Snacks, Member Exclusive

Data Snack: SMB owners are turning to emerging technologies – can banks keep up?

  • Times are changing, and SMB owners seem more than privy to that.
  • When it comes to emerging technologies they deem most important, the metaverse, augmented reality, and crypto all made the cut.
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Data Snack: SMB owners are turning to emerging technologies – can banks keep up?

Bank of America’s Small Business Owner Report for 2022 surveyed SMB owners’ perspectives for the years to come, including challenges, opportunities, and the ever-changing landscape of technology that affects them as entrepreneurs. 

When it comes to emerging technologies, small business owners may be taking quite the futuristic view of things.

57% deemed cybersecurity among the most important technologies, and almost 40% saw automation as most important. Moreover, there seems to be a fair share of business owners unafraid of entering sci-fi territory in their predictions, with around 20% rating either virtual/augmented reality or the metaverse among the most important emerging technologies.


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