Surge in AI related innovation activity as Irish businesses continue to prepare to scale AI adoption.
More than two-thirds (67%) of Irish businesses are at the testing or implementation stages of artificial intelligence (AI) adoption.
According to new research from PwC in Ireland, widespread AI adoption remains low at just 6% of businesses.
“Businesses have worked hard to establish relationships of trust with their staff and customers and they want to ensure that these are sustained on their AI journey”
It appears firms are taking a cautious approach to AI and are experimenting to better understand the opportunities AI can bring for their business.
A considered approach to AI
Business leaders are also realising that safe and successful deployment is a complex process that requires planning and coordination across the organisation.
“As evidenced by the marked increase in the reported levels of AI related innovation, the survey highlights that Irish businesses continue to be very engaged in looking to understand the opportunities presented to their business through the adoption of AI,” said David Lee, chief technology officer at PwC Ireland.
“However, the survey results show that business leaders are approaching this in a considered manner. Businesses have worked hard to establish relationships of trust with their staff and customers and they want to ensure that these are sustained on their AI journey. They are learning from their innovation activity to date that the safe and successful deployment and sustained adoption of AI is a complex process that requires planning and coordination across the organisation.
Economic impact of AI
86% of Irish business leaders believe that the overall impact of AI on Ireland’s economy in five years’ time will be positive, up from 77% in June 2024.
Over half (55%) are of the view that GenAI will have a significant or transformative impact on their business in the next 5 years.
The outlook from a jobs perspective also remains positive with three-quarters (75%) of business leaders expecting an increase or no net impact on jobs in Ireland as a result of GenAI, up from 55% in June 2024.
However business leaders also highlight that investment in upskilling is required to get real value from GenAI: nearly three out of four (73%) are of the view that GenAI will require most of their workforce to develop new skills, up from 65% in June 2024.
“The findings of the survey are very consistent with our experience in the PwC GenAI Business Centre, enabled by Microsoft,” Lee said.
“While organisations are interested in understanding the potential for AI to transform their businesses, their immediate focus is on ensuring that the right guide rails – both organisational and technical – are in place before they move beyond innovation to an adoption at scale mindset.
“It is not a surprise that the survey highlights that the current focus of AI related innovation is on efficiency related gains rather than more radical business model reinvention. In our experience, organisations need to build the confidence and trust in the technologies before they are willing to use them as the bedrock for more fundamental transformation.”
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