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Investing in artificial intelligence

Fountech Solutions commissioned an independent survey of more than 750 decision-makers within UK businesses which revealed that 40% of businesses plan to make AI investment a priority in 2021.

The research found that many businesses are now looking to increase their investment in AI over the coming 12 months. The onset of the pandemic in March 2020 incentivised almost one-third (30%) of businesses to pilot an AI solution for the first time, 41% plan to hire new talent to deal specifically with AI, while almost half (48%) plan to send staff for AI-related training.

External AI experts are also in high demand, with 44% of businesses planning to engage with third parties to help with their AI requirements.

As AI and automation becomes more common, more than half (58%) of UK businesses plan to invest more heavily in training their employees so they can better utilise new technologies. In the long-term, an overwhelming majority (61%) of businesses are confident that embracing AI will give their business a sustainable competitive advantage.