TLDR:
In a recent report by financial management solution Qonto, it was revealed that 73% of SMEs across Europe plan to invest in fintech and AI services in 2024. The report surveyed European SMEs and found that many companies are optimistic about the benefits that fintech and AI can offer their businesses. This marks a shift in attitudes towards technology adoption, as most SMEs have previously only adopted basic technologies.
Key Points:
- In 2024, 73% of SMEs in Europe plan to invest in fintech and AI services, according to a report by Qonto.
- European SMEs are optimistic about the benefits that fintech and AI can offer their businesses.
- The majority of EU SMEs have previously only adopted basic technologies, indicating a shift in attitudes towards tech adoption.
- However, SME leaders are more sceptical about emerging technologies such as cryptocurrency, Web3, virtual reality, and the metaverse.
- The finance and insurance sectors are the most enthusiastic about new technology adoption, while the construction sector is the least hopeful.
- While SMEs are planning to invest in tech, many are not planning to hire new talent in the near future. However, some SMEs do plan to accelerate their recruitment in Q4 2023.
- Women remain underrepresented in leadership roles, with only 29% of respondents in the survey being women.
A recent report by financial management solution Qonto has revealed that 73% of SMEs across Europe plan to invest in fintech and AI services in 2024. The report, which surveyed European SMEs, found that many companies are optimistic about the benefits that fintech and AI can offer their businesses. This marks a shift in attitudes towards technology adoption, as the majority of EU SMEs have previously only adopted basic technologies.
SME leaders are more sceptical about emerging technologies such as cryptocurrency, Web3, virtual reality, and the metaverse. Across all four markets studied, 37% of respondents admitted being ‘pessimistic’ or ‘very pessimistic’ about Web3 and cryptocurrencies, while 33% felt the same way about virtual reality and the metaverse.
When separated by industry, the finance and insurance sectors were found to be the most enthusiastic about new technology adoption, while the construction sector emerged as the least hopeful about the potential benefits of new technologies.
While SMEs are planning to invest in fintech and AI, many are not planning to hire new talent in the near future. However, Qonto revealed that 42% of SMEs intend to hire more employees in Q4 2023 compared to Q3 2023. Italy has the highest proportion of SMEs saying they will accelerate their recruitment, with 48% reporting that they hired more in Q4 2023.
The survey also found that women remain underrepresented in leadership roles, with only 29% of respondents across all four markets being women. France and Italy appear to be the closest to gender parity, with 38% and 32% of respondents being women, respectively. Germany and Spain have the lowest representation of women in leadership roles, with 23% and 25% of respondents being women, respectively.