U.K. business leaders feel more support for AI initiatives from the government would produce better results than reductions in taxes or regulation, according to a new report.
A survey by process intelligence technology provider Celonis, which polled 500 executives at U.K. firms, found 85 percent feel they are struggling with various barriers to productivity. Of those, the report said, 39 percent indicated that better support for AI implementation would be more beneficial for the U.K.’s economic growth than reducing red tape (36 percent) or cutting business tax rates (35 percent).
Respondents also said that AI (46 percent) is more than twice as effective at driving employee productivity than return-to-office mandates (19 percent). Nearly all of those polled (93 percent) feel they are getting at least some value from AI investments, but more than a third have not achieved the ROI they have expected.
“AI’s potential to accelerate business productivity is extremely attractive, especially at a time when U.K. companies face so many barriers to productivity and growth,” said Rupal Karia, Country Leader UK&I at Celonis. “Yet, there’s a gap between AI’s promise and its ability to deliver tangible results. Process intelligence closes this gap. It provides a unique class of data and business context that enables process improvement across systems, departments, and organizations. Process intelligence ensures AI has the knowledge to understand how the business runs and how to make it run better.”