Most British businesses will use AI routinely within the next five years, but many are struggling to overcome AI “implementation gap” and risk losing ground to more sophisticated rivals, report warns
Research from data science consultancy Peak Indicators, found some stark differences in the rate of AI adoption across UK businesses. The Artificial Intelligence in Business report revealed that:
One in eight UK employers (12 percent) are now using AI insights or automation.
More than a quarter (27 percent) are investigating how it could support their activities.
Adoption is highest in the Finance and Accounting sector, where more than half (59 percent) of companies are already using AI in some capacity.
Geography has a significant impact on the rate of adoption:
London-based businesses are nearly 1.5 times more likely to be testing or using AI routinely than firms in almost every other region, more than half (54 percent) are already implementing AI solutions.
Only the East and North East of England, both regions in which 42 percent of firms are using AI, came close to the capital.
England’s North West and South West were notable AI coldspots, with just 23 percent and 19 percent of firms respectively using the technology.
Business size was also a clear determinant of successful AI deployment:
Almost four-in-ten (38%) large companies (250+) have deployed AI around the business, and a further 35% are testing the technology.
This is more than twice as much as medium sized businesses (15% of whom have deployed AI) and six times greater than small businesses (only 6% use AI live).
Paul Clough, Head of Data Science at Peak Indicators, comments: “We are seeing the start of an AI arms race. People need to prepare for the reality that most British businesses will use AI routinely within the next five years.
“Most leaders recognise this trend, but many are struggling to move beyond investigating AI into the deployment of live applications. SMEs and businesses in areas without a wealth of relevant technology talent find it harder to move from talk to trials and are at greater risk of losing ground to more technologically sophisticated rivals.”