Subj : UK businesses want to spend more on AI, as lack of skills remains
To   : All
From : TechnologyDaily
Date : Thu Oct 03 2024 12:15:05

UK businesses want to spend more on AI, as lack of skills remains an issue

Date:
Thu, 03 Oct 2024 11:08:00 +0000

Description:
The UK is among the top AI adopters in the EMEA region, but there are still 
some challenges to overcome.

FULL STORY
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New research from ServiceNow has revealed that a large majority (85%) of UK 
businesses plan to spend more on artificial intelligence despite initial 
concerns about how ready their business is. 

Based on responses from more than 2,000 executives from the EMEA region, the 
company's Enterprise AI Maturity Index found that 86% of British companies 
are optimistic about AIs positive impact on efficiency and productivity  
substantially more than the EMEA average of 76%. 

That being said, the report also reveals that many companies are finding 
themselves stuck in the early stages of adoption where they continue to 
battle with concerns about the technology. British businesses are keen to 
adopt AI 

Around one in five (18%) UK companies were deemed pacesetters in AI adoption, 
meaning that they had scored more than 50 out of 100 on an AI maturity test 
based on factors like strategy, leadership and integration. 

This puts the UK behind only the Middle East and Benelux (Belgium, the 
Netherlands and Luxembourg) and aligns with the countrys ambition to become a 
global AI hub and leader. 

The reason that companies are excited to progress their AI strategies becomes 
apparent  four in five (79%) believe that the technology will help them grow 
their revenue. AI is also particularly attractive to customer-facing 
businesses, with even more respondents (85%) anticipating that it could 
improve their customer experiences. 

However, because many nations are still in the early stages of adopting AI, 
key challenges continue to influence leaders decisions. More than half (57%) 
of UK businesses are still determining which AI skills they need, and 37% 
believe they dont currently have the right talent mix. One-third (34%) of 
executives also expressed concerns about potential errors and inaccuracies in 
AI-generated content. 

ServiceNow Group VP and GM for the UK & Ireland, Damian Stirrett, commented: 
The race to put AI to work is still in its early stages. Yet, its clear that 
some organisations have already gained a head start in adopting and 
integrating it. 

Looking ahead, ServiceNow says that companies can prepare for AI deployment 
by hiring new talent and upskilling existing workforces. More from TechRadar 
Pro Weve rounded up a list of the best AI writers Forget AI  most UK firms 
just want to hire basic IT skills Check out the best UK jobsites



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Link to news story:
https://www.techradar.com/pro/uk-businesses-want-to-spend-more-on-ai-as-lack-o
f-skills-remains-an-issue


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