Survey Finds Over 60% of Businesses Pin High Hopes on Artificial Intelligence (AI), with Cybersecurity and Cloud Computing Close Behind!
Businesses are eager about the vast opportunities that artificial intelligence (AI) offers, yet they might face delays in adopting it due to the digital skills gap, as highlighted in recent studies.
According to a study conducted by Paris-based tech and start-up event Viva Technology (VivaTech) and consultancy firm Wavestone, over 95% of more than 1,000 companies in France, Germany, the United Kingdom, and the United States emphasized the importance of integrating new technologies to stay competitive.
Over 60% of the surveyed companies voiced confidence in AI as the leading-edge technology, with cybersecurity and cloud computing closely trailing behind in their list of promising innovations.
François Bitouzet, the Managing Director of VivaTech, explained, “It indicates that they’re fully aware of the importance of the situation and are prepared to take action today.”
It’s not so much about the funding, but rather the availability of skilled individuals that holds them back. According to what they’ve shared, 45 percent of businesses express concern about lacking the necessary talent for successful digital transformations.
According to a recent study from Amazon Web Services (AWS), AI adoption is poised to ignite a €600 billion surge in Europe’s economy. small and medium-sized enterprises (SMEs) revealed that they face considerable hurdles in embracing this technology, citing challenges in securing talent, navigating regulations, and managing implementation costs.
Tanuja Randery, Managing Director of AWS Europe, Middle East, and Africa (EMEA), expressed excitement about the incredible opportunity Europe is on the verge of.
Small and medium-sized enterprises (SMEs) understand the advantages that AI brings to their expansion and efficiency. Given that SMEs contribute to over half of Europe’s GDP, it’s crucial to address the obstacles hindering their digital progress.
Ethics and Regulation
“For Europe to unlock the true power of AI, it’s crucial that we provide robust digital skills training and clear regulations to empower businesses of all sizes to thrive.”
The findings from the VivaTech study revealed that companies weren’t just worried about adopting AI; there were other pressing concerns on their radar as well.
They’re concerned about the potential for mistakes, misleading information, and false narratives that AI might generate, with 77 percent of companies acknowledging the need to use AI responsibly and emphasizing the significance of privacy and ethical considerations.
Bitouzet mentioned that they value regulation and a structured framework, emphasizing the importance of government involvement in creating a fair and equitable environment for all stakeholders.
When it came to what businesses were focusing on, cybersecurity, AI, and cloud computing stole the spotlight, leaving blockchain somewhat sidelined.
Strangely enough, AI has the potential to inject fresh vitality into technologies such as blockchain.
Bitouzet mentioned that one area within generative artificial intelligence (AI) explores the potential to generate images and fabricated news stories.
“I reckon artificial intelligence (AI) will revolutionize the essence of blockchain, reshaping its core functions of verification and authentication on an industrial scale, as we’ll increasingly rely on industrial-grade solutions to discern truth from falsehood.”