UK businesses will splash out on AI

robby the robotA new study by beancounters at Deloitte predicts that 85 percent of UK businesses will have invested in artificial intelligence (AI) by 2020.

Deloitte researched over 51 UK companies and found that over half of respondents plan to invest over £10 million in AI over the next three years – with 30 percent saying they will have spent £10 million by the end of the year.

Deloitte UK digital transformation leader Paul Thompson said: “AI will have a profound impact on the future of work.

“Our view is that human and machine intelligence complement each other, and that AI should not simply be seen as a substitute. Humans working with AI will achieve better outcomes than AI alone, and UK businesses need to get this particular balance right.”

So far only 22 percent of organisations said they had not yet invested any money in AI, with just one third expecting to spend more than £1 million this year.

Deloitte said these figures are an indication that organisations are testing AI rather than skippin straight to large deployments.

More than 77 percent of leaders expect AI to disrupt their industries, but only eight percent expect AI to replace human activity in their businesses.