- AI is a big talking point, but almost 90% of UK businesses have seen no return
- Investment in AI will increase 32% by 2026
- More than four in five respondents believe the UK could become a global AI power
Most organizations now use AI in some form, and personal use is becoming more common. But new research from Red Hat suggests that this extensive use of AI is not yet bearing fruit, with 89% of British businesses yet to see any boost in customer value from their AI investments.
However, this is not deterring many organizations, with companies planning to increase investment in AI by around 32% by 2026. Despite growing fears that the AI bubble could soon burst and lead to a “sharp market correction”, there is still hope: 83% of respondents agree that the UK has the potential to become a “global AI power” in the next 3 years.
The British government has invested heavily in “unlocking AI” for businesses by creating security platforms, launching “growth zones” and a set of more than 100 new data centers across the country to drive greater demand.
Confidence remains high
Over the next 18 months, AI will be a top concern alongside security, with agent AI topping the top priority list for 68% of organizations, although that comes with its own unique set of risks to face.
AI adoption is advancing rapidly, but it is not without challenges. Almost all (95%) of respondents experienced barriers to AI adoption, primarily high implementation and maintenance costs (34%), security and data privacy concerns (30%), and integration difficulties with existing systems (28%).
Finding and nurturing talent also remains a challenge: AI is currently considered the most pressing skills gap for 55% of respondents, as well as concerns that workers need to efficiently use technology (52%) and the need for general AI education within the company (48%).
“Organizations are investing substantially in AI, but only a few are currently delivering customer value,” explains Joanna Hodgson, country director at Red Hat UK. “On the path from experimentation to sustainable production, business insight and integration with business systems must pave the way to achieving value from AI.”
Follow TechRadar on Google News and add us as a preferred source to receive news, reviews and opinions from our experts in your feeds. Be sure to click the Follow button!
And of course you can also follow TechRadar on TikTok for news, reviews, unboxings in video form and receive regular updates from us on WhatsApp also.
