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UK businesses are at risk of falling behind international rivals because of a failure to use more artificial intelligence, a report by Microsoft has warned.
The computing giant found that more than half of UK leaders have no AI strategy in place within their organisation.
Benefits - Productivity - Workers - Tasks
That's despite the potential benefits to productivity and relieving workers of more mundane tasks.
More than a third admit they are not focused on AI at all, while studies suggest that organisations making use of AI are outperforming those who aren't by five per cent.
Business - Leaders - Partnership - Goldsmiths - University
Of the 1,000 business leaders surveyed in partnership with Goldsmiths, University of London and YouGov, four in ten said that they believe their current business model will cease to exist within five years.
The report, Maximising the AI Opportunity, details how sectors including healthcare, finance, manufacturing and retail could feel significant benefits from developing workers's skills with AI.
Majority - Technology - Fears - Cost - Reasons
Despite the majority being open to experimenting with such technology, fears over the cost of implementing it are cited as one of the reasons why decision makers hesitate from making it a reality.
'How society, business and people adapt to AI will become one of the most pressing considerations of this...
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