Despite all the hype and excitable headlines only 13 per cent of businesses are currently using artificial intelligence.
Although current take up is low, greater investment is on the horizon for the majority, according to new research by bluQube that found 35 per cent are planning to invest in artificial intelligence (AI) over the next year and 17 per cent said they’ll be investing over the next three years.
A quarter of businesses believe they will eventually be able to reduce staff numbers and staffing costs due to AI, and six per cent said AI has already allowed them to do this.
However, the findings also point to a clear reluctance to embrace AI among some leaders, with 15 per cent saying they’re unlikely to invest over the next three years, and 12 per cent with no plans to invest at all in future. When these respondents were asked why they’re not planning to use AI, expense (35 per cent) came out top of the list. A third agreed they didn’t have enough time to implement and train AI, while 23 per cent had concerns around security breaches.
Operations is the most common area currently being impacted, cited by over half of respondents already using AI, followed by production (48 per cent) and customer service (38 per cent). Sales and marketing (33 per cent) and finance and accounting (29 per cent) came out bottom of the list.
However, when respondents were asked which areas of their business they felt would be most impacted by AI moving forwards, it was sales and marketing and finance and accounting that came out on top.
“AI seems to have erupted recently and is dominating conversations across many different facets of business,” Simon Kearsley, CEO at bluQube, said. “While current take up is low, it’s clear that many organisations have plans to implement artificial intelligence in various ways in the near future. The research raised some interesting findings about the role these business leaders see AI taking in their businesses, with some even viewing it as a means to replace elements of their human workforce.
“While much of the current sentiment around AI is positive, some business leaders feel unable, or are unwilling, to embrace it. And, although hesitations are understandable, inaction could see them being left behind. It’s the businesses that remain open to possibilities and ready to adapt that will be the better equipped to remain competitive, profitable and reach new heights.”