According to the Bank of Scotland's Business Barometer, the majority of Scottish companies believe that AI adoption will become an important growth driver in the country's economy.
More than half (52%) of Scottish companies believe that the promotion of AI adoption will be a major factor in regional economic growth.
Of the 61% of companies already using AI, 8 in 10 (81%) have increased productivity, compared to 79% who say they have improved profitability. Most commonly, companies use off-the-shelf AI platforms to improve efficiency (59%), analyze data, make better information decisions (31%) (31%), and automate parts of the process (31%).
Going forward, 39% of Scottish companies plan to invest more in AI next year, with one-third (34%) of non-employers planning to use it for the first time. Meanwhile, one in five (20%) will create a new AI-specific role.
The company said the biggest driver for future AI investments is further driving further increases in profitability (48%) and productivity (48%). The company also said it understands AI and its benefits (50%) and that peer inspiration (15%) will help drive more investments.
Surveying 1,200 companies each month, the business barometer, running since 2002, provides early signals on UK economic trends both locally and nationwide.
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“We've been working hard to get the better of our customers,” said Martin Kendrick, director of Scotland Bankland Commercial Banking.
“Scottish companies plan to invest more in technology and say they can go further if they understand exactly how it benefits and what it is doing among their colleagues. This underscores the key role in sharing knowledge and best practices by sharing the benefits AI offers.”
