The State of Small Business in Barbados

National Survey of the Small Business Sector (Barbados)

5.5 Forward Intentions in Digital Tool and AI Adoption With respect to artificial intelligence, AI adoption remains limited. Only 18.4% of businesses report currently using AI tools, while a large majority (81.6%) report no AI use at present. Where AI is mentioned in open-ended responses, interest centres on automation, training support, and efficiency, alongside concerns about accuracy, security, and loss of authenticity. Looking ahead, 41.5% of MSMEs plan to adopt new digital technologies in the next 12 months, suggesting a meaningful appetite for further digitisation. However, 32.7% are uncertain, and 25.8% do not plan to adopt new technologies, indicating hesitation and uneven readiness across the sector.

Figure 5.3: Current AI Use (% of Firms)

Currently using AI 18.4%

Not using AI 81.6%

Figure 5.4: Future Intentions to use Digital Tools (% of Firms)

Don’t know / Unsure 32.7%

Plan to adopt new digital tools 41.5%

Responses to the open-ended question on technology needs and concerns reveal a polarised picture. A large share of businesses (approx. 48%) report no immediate concerns, often stating that their current systems are sufficient or that technology is not a priority at present.Overall, this suggests that while basic digitisation is becoming normalised, deeper engagement raises new risks and anxieties that many MSMEs might feel ill-equipped to manage without external support or assistance. 5.6 Technology-Related Needs and Concerns Do not plan to adopt 25.8%

Table 5.3: Key Technology Needs and Concerns (Qualitative Summary) Theme Specific Issues Cost Applications, renewal fees, equipment Security Cybersecurity, data breaches Reliability Downtime, system failures Skills Training for staff and management Strategic uncertainty ROI, relevance for small firms

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Small Business Association of Barbados