The influence of AI tools on the growth of entrepreneurship

The era of entrepreneurship has never been so promising. Thanks to technological advances, anyone with a smartphone and an idea can start a business, without needing expensive tools or technical training. Artificial intelligence (AI)-based applications are enabling side hustles to transform into thriving ventures, making entrepreneurship an accessible reality for many.

According to a survey of 720 users of the AI-powered image editing tool Photoroom in the United States and the United Kingdom, human-centered AI is enabling small business owners and freelancers to achieve financial independence. Tools like Photoroom, ChatGPT, CapCut, Mailchimp, and others are reducing barriers that previously prevented new business creation and growth.

Today, in the USA, 99.9% of companies are small, and in the United Kingdom, 99,05%. THE Generation Z, in particular, is reshaping the future of work: 93% of this generation's young people show an interest in entrepreneurship and 75% plan to start their own businesses.

“AI is transforming the landscape for new entrepreneurs, reducing and transforming the financial barrier and empowering everyday people to create and manage their businesses,” says Matthieu Rouif, CEO and co-founder of Photoroom.

Democratization of technology

The rise of AI is revolutionizing the business landscape, becoming essential for small businesses and side hustles. Tools that were once exclusive to large corporations are now available to anyone, democratizing access to advanced technologies.

According to the survey, 33% of entrepreneurs use ChatGPT to generate campaign ideas, while 87% of Photoroom users use the platform to create professional-quality product photos. Other popular tools include CapCut, Mailchimp, and Mojo, which assist with video creation, email marketing automation, and social media content enhancement.

The impact is clear: small businesses that adopt these AI tools report significant improvements in productivity, time savings, and increased sales. According to US Chamber of Commerce, one in four small businesses that adopted AI saw improvements in marketing and communications performance, as well as a significant increase in profits.

How Photoroom is helping entrepreneurs achieve financial independence

Photoroom has been an essential tool for entrepreneurs to overcome challenges and boost their businesses. One example is Nick Hawkins, founder of The 1994 Candle Co., who started his candle company during the pandemic. Despite being a photographer, he struggled with traditional editing tools, which were expensive and complex. By adopting Photoroom, Nick was able to create high-quality images quickly and affordably, resulting in a 40% increase in sales in the first three months.

Another successful example is Sarah, who founded Cowgirl Clutch, a jewelry business, at age 15. With no marketing experience and limited resources, Sarah found Photoroom to be the ideal tool for creating attractive, professional images. By 18, she had achieved financial independence, something she never imagined she could achieve in such a short time.

In Brazil, Bel Demetrius, began creating unique women's handbags during the pandemic, turning a hobby into a profitable business. Initially, she struggled to capture professional-quality photos that showcased her handcrafted work. During her journey, Bel tested several editing platforms, but it was Photoroom that successfully combined the artisanal look with professionalism in the images, resulting in a significant increase in interactions on her Instagram profile and, consequently, sales. Today, she uses the Pro version of Photoroom to optimize the visual presentation of her pieces and plans to launch a website with photos edited in the app.

Another Brazilian example is the trajectory of Deborah Campos, A Rio de Janeiro artisan who settled in Hortolândia to focus on motherhood also struggled to capture attractive photos of her products due to a lack of adequate funding. After discovering Photoroom, her results completely changed: she can now prepare photos in just 20 minutes, which not only improved the presentation of her work but also boosted her sales and follower count by up to 30%.

"With Photoroom, my photos started receiving a lot of compliments, and I no longer need to spend money on paid ads," says Débora, who recommends the app to friends and emphasizes the importance of a good photo to convey credibility and attract clients.

These stories demonstrate the positive impact AI has on the lives of small entrepreneurs, enabling them to transform their ideas into thriving businesses with accessible, easy-to-use features.

The economic impact of entrepreneurship

Beyond the obvious benefit of using Photoroom to enhance the quality of their images (76%), respondents reported that access to AI-powered photo editing tools has had a significant impact on several areas of their business.

53% users highlighted time savings as a key benefit, allowing them to dedicate more time to other activities crucial to their business's growth. 32% mentioned saving money by avoiding expensive professional services, while 15% saw an increase in sales as a result of improved product presentation.

Small businesses not only fuel innovation, but are also the backbone of the global economy. According to the Small Business Administration In the US, small businesses represent 40% of US GDP and are responsible for 63% of new jobs created since 1995.

With the support of tools like Photoroom, entrepreneurs are not only overcoming barriers but also saving money. 78% of users reported saving up to US$$ 500 per month with photography services, while 22% saved up to US$$ 1,000. This, in turn, is driving growth and enabling more people to achieve their financial goals.

AI and the Future of Entrepreneurship

As AI tools continue to evolve, they play a critical role in fostering innovation, creativity, and economic growth. Small businesses represent a significant portion of the US and UK economies, creating jobs and contributing to GDP. With the help of AI, the next generation of entrepreneurs has the opportunity to thrive, shaping a new future for work and commerce.

“AI may replace jobs in large companies, but it will unlock opportunities for small businesses, stimulating economic growth and creating new jobs,” concludes Matthieu Rouif.

According to the CEO, Photoroom is committed to continuing to develop accessible resources that enable entrepreneurs to overcome barriers and achieve financial freedom. With AI, the power is in the hands of those who want to turn their passion into a thriving small business.