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AI a key factor between success and failure, study suggests

(Image credit: Image Credit: John Williams RUS / Shutterstock)

Businesses that are already using AI will eat up those that don't. In five years' time, companies that don't employ the strengths of artificial intelligence will, almost certainly, be forced to shut up shop.

This is according to a new report by Microsoft UK polling more than 1,000 business leaders and 4,000 employees, which found that even today, businesses that employ AI outperform those that don't by five per cent.

These organisations were found to be more productive, have higher performance and experience better business outcomes.

“AI represents a huge opportunity, but only if UK organisations embrace its application in the right way,” said Clare Barclay, Chief Operating Officer, Microsoft UK.

“AI is not about making UK businesses leaner, it’s about how we use the technology to make them stronger. In doing so, we can make our work more meaningful and boost UK competitiveness.”

The report also debunks the myth of employees getting in the way of AI adoption due to fear. More than half (59 per cent) are ‘open to experimenting with AI’, but it’s the lack of strategy and direction from leaders that’s fuelling the fear.

Less than half (44 per cent) of employees trust their organisations to use AI responsibly, and just a quarter (26 per cent) said their business has a culture of transparency.

The full report is available on this link (opens in new tab).

Image Credit: John Williams RUS / Shutterstock

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.