Amex research: UK SMEs increasingly turn to AI for advice but human connection matters most

New research from American Express reveals a growing shift in how UK small business owners seek advice and insight, with many now turning to AI in place of traditional peer networks.   

Its study, which surveyed 500 founders and owners of small and medium-sized enterprises (SMEs) across the UK, found that 26% now seek guidance from generative AI platforms that they previously would have sourced from fellow business owners. Time pressures (33%) and limited availability of local networking events (22%) are the biggest barriers to this in-person connection.

However, human connection remainsa powerful driver of commercial performance, and leadership confidence. 78% of small business owners say networking has delivered a positive impact on their business, while 83% report feeling more confident in their decision-making after speaking with peers. Crucially, 71% agree that a strong network is critical when navigating challenges or moments of crisis.  

Despite the rise of AI driven advice, 74  of respondents plan to expand their in-person professional network over the coming year, and 75% believe networking will become even more important as they pursue growth.  

Ruchi Sharma, Vice President, UK Commercial at American Express, says: “Connectivity and networking have always been a powerful growth driver for small businesses. While generative AI is an invaluable tool for sourcing information and driving efficiency, it can’treplace the depth of insight and lived experiences that comes from strong peer relationships. For small business owners, building their professional networks should remain a top priority.”  

The research also highlights the often overlooked emotional toll of entrepreneurship, with 48% of small business owners admitting they don’t have anyone to talk to about business issues. Peer networks play a vital role in addressing this gap, with 38% saying fellow small business owners understand their challenges better than friends or family.  

2026 RTIH Innovation Awards

AI will be a key focus area at the 2026 RTIH Innovation Awards.

The awards are now open for entries and celebrate global retail technology innovation in a fast moving omnichannel world.

Our winners will be revealed at the 2026 RTIH Innovation Awards Ceremony, taking place at The HAC in Central London on Thursday, 15th October.

Check out our 2025 winners here.

Our 2025 hall of fame entrants were revealed during a sold out event which took place at The HAC on 16th October and consisted of a drinks reception, three course meal, and awards ceremony presided over by award winning comedian, actress and writer Tiff Stevenson.

In his welcome speech, Scott Thompson, Founder and Editor, RTIH, said: “This is the awards’ fifth year as a physical event. We started off with just 30 people at the South Place Hotel not far from here, then moved to London Bridge Hotel, then The Barbican, and last year RIBA’s HQ in the West End.”

“But I’m conscious of the fact that, to quote the legend that is Taylor Swift, You’re only as hot as your last hit, baby. So, this year we’ve moved to our biggest venue yet, and also pulled in our largest number of entries to date and broken attendance records.”

He added: “This year’s submissions have without doubt been our best yet. To quote one of the judges: The examples of innovative developments across both traditional and digital retail spaces were truly remarkable.”

Congratulations to our winners, and a big thank you to our sponsors, judging panel, the legend that is Tiff Stevenson, and all those who attended our 2025 gathering.