UK AI Adoption Quadruples Among SMEs, But Total Spend Is Still Less Than Tesco's Turnover

New data from Capital on Tap, one of the UK's largest SME lenders, reveals that AI adoption among small businesses has quadrupled in two years. In Q2 2024, just 3.2 per cent of SMEs spent money on AI services; by Q2 2026, that figure hit 12.8 per cent. Mean average spend per business jumped from £93 to £288 — though the median sits at just £75.60, skewered by a handful of AI evangelists spending £3,159 each. The headline punchline: AI tools still account for only...