The small and medium-sized enterprise (SME) market is undergoing significant transformation driven by artificial intelligence (AI). Recent technological developments, notably the introduction of platforms like Canva AI 2.0, illustrate a growing trend towards automation and business process optimization. However, this transformation is not without challenges, as evidenced by the case of some New Zealand SMEs that have seen their business halved due to increased AI competition. This executive brief explores the strategic implications of these developments for SMEs, identifying associated opportunities and risks.
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