By the year 2050, the UK’s small businesses will be run by personal avatars, according to a new futurology report by Virgin Money.

The research suggests that, thanks to powerful advances in AI across the next three decades, SMEs will use intelligent, virtual clones which can manage workload while company owners focus on “priority tasks, enjoy downtime, and even sleep”.

The report, which includes predictions by UK futurologist David Coplin, says that the avatars will be programmed by SME owners using their “business persona” and will be “fully independent and authorised to operate and make decisions on their behalf”.

“While most business owners would love to have a crystal ball to predict future opportunities and barriers, the reality is in the past 30 years our lives and businesses have undergone dramatic change that very few people foresaw,” said Coplin. “In the 1990s, businesses sent letters printed on dot-matrix printers or faxes to communicate, unable to predict we’d be having the daily virtual meetings we’re so used to today.

“The next three decades are likely to be similarly transformational, so SME leaders should focus on building their capacity to adapt their business in response.”

The futurologist also predicts that smaller businesses will be “global businesses by default”, staffed by an “army of virtual specialists” who can do business anywhere in the world.

He also suggests that SME business owners will be equipped with technology like cybernetic eyes which will allow them to take photos and record footage, a brain-to-computer interface which will enable them to download and upload info, and embedded microchips will unlock doors and facilitate payments.

“The look-back to the 1990s in our report demonstrates that predictions of the future should be taken with a pinch of salt,” said Kash Ahmad, head of business banking at Virgin Media. “What we do know for certain is that technology use will continue to accelerate and we want to help ensure our business customers are well placed to take advantage.”

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