New research has revealed the significant impact artificial intelligence regulation will have on UK businesses.
A Freshworks survey of over 7,000 senior decision makers and managers across 12 countries reveals a complex landscape where AI’s potential is seriously recognised but regulatory uncertainty is hindering its adoption.
The research shows that two in three UK business leaders (65%) believe AI will add value to their operations, but one in three (35%) point to unclear regulation as the biggest barrier to wider adoption of AI.
Businesses want clearer AI regulation
Research from Freshworks has found that the average UK business leader claims that using AI tools saves them an average of more than three hours per week, with one in ten (11%) claiming they can save more than nine hours – more than a typical working day.
Despite the clear time-saving benefits, more than a third (37%) of UK leaders have no plans to implement AI in the workplace, primarily due to regulatory uncertainty, with UK respondents expressing more concern on the issue than those in other countries surveyed.
Additionally, those considering the technology are taking a very cautious approach, anticipating it will be one to two years before it has a significant impact on their business.
The report also highlights ongoing concerns that AI could replace human workers, with nearly half (46%) of respondents worried that AI would replace jobs in their industry. That said, more than two-thirds (70%) said they would trust AI more if human review of the output was required, highlighting AI's supporting role.
In terms of use cases, content creation (43%), data analysis (39%) and brainstorming (35%) were found to be the most common.
Commenting on artificial intelligence's ability to bring about “significant productivity gains,” Prakash Ramamurthy, CPO at Freshworks, said: “The AI era is well on its way to delivering on its promise of freeing up employees for more advanced work, showcasing the compelling benefits of AI.”
