In an era of purpose-driven consumption, values like transparency, trust and humanness are key drivers that unlock value in AI.
In 2019, the UK ranked second in the world in the AI readiness index and it led Western European countries as the most prepared country to bring Artificial Intelligence into business. In fact, prior to the COVID-19 pandemic, the agenda for incorporating AI within the fabric of the nation was aggressively being pushed forward. The UK is fast becoming a global leader in AI investing resources in creating frameworks, councils, and offices that ensure AI’s potential is leveraged to the fullest.
Now, as we grapple with the pandemic businesses are turning to AI and robotics to help compensate for the loss of revenue and layoffs. However, it is likely not the technology itself that will make the difference in the aftermath, but rather the knowledge and creativity of the humans who use it, and as we look to ensure that AI is deployed in a responsible way.
In an attempt to quantify the potential of AI as applied to the web, WP Engine commissioned an international study conducted by the researchers at The University of London and Vanson Bourne that explored the present and near future of AI. We surveyed 200 Information Technology Decision Makers in the UK and 1,000 UK consumers.
The potential of AI is massive, but a successful AI strategy must be considerate of the increasingly privacy-conscious consumer. 47.5% of UK enterprises indicated they don’t know enough about AI to use it to solve business problems. Perhaps less surprising, UK consumers are quite similar, as 58% of consumers agreed that everyone is talking about AI but few really know what it is. This lack of understanding can be detrimental to organisational progress—as Joanna O’Connell, VP, Principal Analyst at research firm Forrester perfectly summed up, “Buzzwords without real understanding can be problematic, if not downright dangerous.”
When driving AI’s potential in your enterprise, aligning them with your brand values and ethical structure is key. The degree of benefits AI will bring to an enterprise is deeply interlinked with the importance of ethical commitments to the people and environment in which they do business. AI helps brands align with their values more effectively. Rather than fear of the massive transformation AI seems to suggest, enterprises are now methodically working towards incremental change and ensuring that AI is used when it makes sense, responding to consumer desires for trust and security with a deep understanding of what’s at stake.
Through our research, and from conversations with experts, we’ve listed a few recommended solutions below for you to gain a competitive edge through the deployment of AI-enabled tools.
AI-driven platforms are increasingly being used to make long lasting decisions, such as the creation of jobs, loans, or university admissions. Thus, there is a rising concern from users on how algorithms make these decisions, as 92.
