The Impact of Digital Media and Artificial Intelligence on the SMEs in Developing Countries: An Exploratory Desk Study

Abstract

With the era of globalization and the technological revolution, the significance of digitalization has been increasing as it has been incorporated in all types of enterprises, especially small-medium enterprises. As digitalization has enabled these business corporations to form a strategic mechanism that is allowing these companies modern and technological ways to enact and execute business operations by increased connectivity and collaboration. However, it has been implied that most SMEs are facing enormous challenges in evolving a coherent digital transformation, as it also involves digital media and artificial intelligence. Digital media has a strong impact on SMEs, as it proves beneficial in the growth of the business, increasing brand awareness. The most common challenges faced by the companies are the changes in the internal practices and processes of the company, and the mobilization of the business resources, which requires a large investment. Therefore, the objective of the research is to analyze the impact of digital media and artificial intelligence on the SMEs of developing countries, and the services offered by the digital media and AI to these enterprises. The research is based on a secondary research method, including desk research and an extensive previous literature review, from several data sources. The study provides an insight into the innovative characteristics of digital media and AI on the SMEs, presenting some recommendations to the SMEs to develop means to effectively incorporate digital media and AI.