Australian small and medium-sized enterprises (SMEs) using artificial intelligence (AI) products and features are growing 2.8 times faster than those that aren’t, according to new analysis from MYOB.
Based on aggregated and anonymised data from hundreds of thousands of SMEs, the modelling shows a clear edge in performance for the 40% of small-to-medium sized businesses currently adopting AI[1].
Additional findings taken from the latest MYOB Bi-Annual Business Monitor, which surveyed more than 1,000 SMEs across the country, reveal where the benefits are being felt. Among those using AI, 54% report saving time and 34% say it is improving productivity, with the technology already driving gains across core business functions.
Despite the clear advantages on offer from AI adoption, MYOB’s April Business Monitor reveals almost half of (46%) of SMEs say they are not using AI and nor do they intend to over the coming 12 months.
CEO of MYOB, Paul Robson, said the results point to a widening AI divide.
“AI is the most powerful productivity lever the SME economy has experienced in years, already delivering measurable gains in efficiency, growth and revenue,” Paul said.
“Those adopting early are pulling ahead, and even modest uptake could unlock billions in additional revenue for the economy.
“As a core part of Australia’s technology sector for 35 years, MYOB sees AI transforming every employee’s impact, shifting from a ‘nice to have’ to a business-critical investment, though many SMEs still face barriers around trust, skills and understanding its value.”
Where AI is being used, it is increasingly being embedded into day-to-day operations, reflecting the broader trend of SMEs integrating AI into their business management solutions rather than treating it as a separate add-on.
Supporting this shift toward embedded, practical AI, MYOB has rolled out a suite of impact-led AI agents and AI-powered features across its business management platform, including Australia’s first AI BAS support agent, AI Business Insights, Smart Reconciliation and Smart Invoice Reminders. These have been designed to take the effort out of SME compliance and cashflow, and help business owners and their advisors save time, improve visibility and stay on top of their operations.
MYOB has also recently announced a five-year strategic partnership with Microsoft to jointly fund, build and scale AI innovation across MYOB’s business management solutions, accelerating embedded AI into day-to-day workflows and intelligent agents that forecast cash flow, guide compliance readiness, surface proactive insights and deliver next-best actions within the products customers already use.
For SMEs, while technology investment is accelerating, workforce readiness is not keeping pace. With two-thirds of SME employers not actively looking for AI experience when hiring and 72% claiming they have no plans to offer AI training, Paul added practical support is required, giving business owners the tools, guidance and confidence to adopt AI responsibly.
“With the right collaboration between industry, experts and government, we can help more SMEs turn that growth potential into real impact,” Paul said.
MYOB says building AI readiness into productivity programs will be critical and has welcomed the Federal Government’s $17 million AI Adopt Program as a step towards lifting capability across the sector. The AI Adopt Program is part of a suite of measures outlined in the Albanese Government’s National AI Plan released in December last year.