A survey carried out by the Confederation of British Industry (CBI) in association with IBM has revealed that 49% of businesses believe artificial intelligence is set to ‘fundamentally change’ the industries and markets they operate in.
The survey, which quizzed 160 UK businesses, found that 73% of respondents have invested in cloud systems over the past 12 months, 79% have invested in mobile technology and 71% in security.
42% of firms also plan to invest in artificial intelligence in the next five years, the CBI found.
However, the business group warned that a ‘growing digital gap’ exists between firms that are championing artificial intelligence and those that are falling behind.
Josh Hardie, Deputy Director-General of the CBI, stated: ‘Innovation in business is essential for advanced economies such as the UK.
‘British businesses are directing resources into new technology, with cloud, mobile and security investments forming the UK’s digital backbone.
‘The digital gap risks becoming a chasm with artificial intelligence set to transform the face of UK businesses.’