The European Union could reap €628 billion ($681 billion) a year by bringing digitally lagging businesses up to speed, according to a research paper by software publisher Sage.

At the core of this untapped opportunity are small and medium-sized companies, which are currently struggling to catch up with modern technology and are below the European average. Increasing their use of artificial intelligence and other digital tools would improve productivity, according to the study’s model calculations across 15 countries.