Business sentiment tracker: Two in five businesses say AI adoption is important for future growth

YouGov recently asked UK enterprises for their thoughts on AI as part of our first-ever Business Sentiment Tracker. YouGov Surveys: Serviced data shows that almost two-thirds (64%) are using the technology to some extent: 10% have fully embraced it, 32% are using it in at least some of their work, and 22% are experimenting with it.

As for the role AI will play, businesses are more likely to say it is important than unimportant (42% vs. 34%) to their future plans. Larger businesses are leading the way in defining these tools as important (62%) over SMEs (30%). 

So what’s holding businesses back from fully embracing AI? 

When we asked about barriers to adoption, two in five businesses cite concerns around accuracy/reliability (39%), with data privacy/security worries 10-percentage-points behind (29%). A fifth gave ethical concerns (22%) and a lack of internal skills (20%) aas obstacles to using AI tools, while one in six (17%) said AI is simply not relevant to their businessesor that consumers were insufficiently trusting of the technology (16%). Some 12% said they did not see the value of AI at all. 

There is some variation according to business size. Larger businesses are more likely to cite a lack of internal skills (Large business: 26%; SMEs: 16%), while SMEs are more worried about accuracy (Large businesses: 37%; SMEs: 42%). Smaller businesses are also twice as likely to say they do not see the value at all (Large businesses: 6%; SMEs 12%). 

Image: Getty