Implementation of AI among Ukrainian entrepreneurs: one in five already uses the technology

Ukrainian business is rapidly adapting to new technologies, and artificial intelligence (AI) is becoming an important tool for the development and optimization of business processes. According to the results of the Mastercard SME Index 2024 study, 21% of entrepreneurs in Ukraine have already integrated AI into their activities. In particular, this figure is 16% among micro-businesses, 30% among small companies, and almost half (47%) among medium-sized enterprises.

The Mastercard SME Index 2024 study made it possible to study the state of micro, small and medium-sized businesses (SMEs) in Ukraine, as well as to identify the key needs of entrepreneurs and development prospects. Special attention was paid to innovative technologies such as artificial intelligence, which is becoming an increasingly popular tool among the business community.

34% of surveyed entrepreneurs expressed their interest in studying the possibilities of AI. Its main areas of application include marketing strategies, social media management (SMM), content translation into other languages, digital communication with clients, image creation and text generation. Thus, entrepreneurs see great potential in AI to improve interactions with customers and develop their own brands.

In addition to AI, the study showed that Ukrainian entrepreneurs actively use digital channels to present goods and services. 75% of enterprises already have a presence in the digital space: 37% have their own websites, 24% are represented on marketplaces, and every sixth entrepreneur (16%) has developed a mobile application for their business.

There is also a significant increase in non-cash payments among Ukrainian entrepreneurs. 90% of SMEs provide the option to make cashless payments, with 17% of them implementing this option in the last two years alone. It is worth noting that for 80% of entrepreneurs, such calculations bring more than half of the income, which is 8 percentage points more than in the previous year.

Forms of non-cash payments that have gained popularity include payments by details (58% of entrepreneurs), through POS terminals (34%) and online payments through websites or payment services (34%). However, card transfers, although still popular (40%), have decreased by 6 percentage points compared to last year, which indicates a gradual transformation of payment habits of entrepreneurs.