Irish business 'not ready' for benefits that Artificial Intelligence can bring
Irish companies have fallen behind in embracing artificial intelligence (AI) and will lose business unless they build this expertise soon, PwC and the Analytics Institute have found.
A report today assesses the AI readiness of Irish businesses based on interviews with 98 executives. It contrasts their low uptake of AI technology with practices at comparable US companies, where "the vast majority" are already using or testing AI to boost efficiency, productivity and market insight.
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More than three-quarters of Irish executives think they should deploy AI soon or risk "rapidly losing competitive advantage," the report found.
But nearly half said they didn't understand the potential impact of AI on their business, 39pc had no plans to introduce AI in the coming year, and 26pc didn't know who on their staff had responsibility for AI - compared to just 4pc at equivalent US firms surveyed.
PwC data analytics partner Darren O'Neill said most Irish businesses "are not ready to leverage the opportunities."