Almost all Irish companies expect artificial intelligence will have a profound impact on their business over the next five years and nearly half are already using AI to grow their businesses, according to a report which surveyed over 1,000 companies conducted on behalf of Amazon Web Services (AWS).
The report also reveals that the percentage of businesses using AI has grown significantly over the past 12 months, with 45 per cent of those surveyed saying they had adopted the technology. Meanwhile, a further 31 per cent of businesses reported they are consistently using generative AI with a further 26 per cent reporting they are “experimenting” with the tech.
An incredible 89 per cent of those surveyed said they expext AI will "significanttly transform" the industry they work in over the next five years.
Of those surveyed 35 per cent said they expect AI will be used in their industries to automate processes and workflows, 18 per cent said they think it will improve decision-making and strategic planning, while a further 11 per cent reported that it will enhance customer experience and engagement.
The AWS survey shows businesses are increasingly using specific tools to help aid growth, of which data analytics is primary, followed by AI chatbots or virtual assistants. The main use of AI tools is for customer service and support, quality control and inspection; and predictive analytics and forecasting.
Adoption of AI is being driven by key factors – most notably, technological advancements and the availability of more easy-to-use solutions, closely followed by businesses having increasing amounts of data to process and analyse.
Irish start-ups are leading AI adoption in the country, with 80 per cent reporting that they are currently using it. Almost all start-ups using the tech have dedicated data science or AI roles within their company. Among those that don’t, 92 per cent plan to hire for them in the future.
“The benefits are clear, with businesses reporting significant improvements in cost savings, competitiveness, and business value. As technological advancements continue and more data becomes available for processing, AI adoption will be crucial for maintaining competitive advantage and driving innovation across all sectors” Mark Dunleavy, head of commercial at AWS Ireland said.
The study indicates that it isn’t just the private sector that is embracing AI, with 64 per cent of public sector organisations also saying they are using it, primarily for data analytics and reporting purposes but also for administrative automation and resource optimisation. Such organisations reported efficiency improvements as the main reason for adopting AI with compliance and regulatory requirements , and cost reduction also cited.
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