Although only around 20% of UK businesses have so far invested in AI (Artificial Intelligence) over 80% of executives plan to do so within the next two years.
A new study shows that by 2020 about 50% of them will have invested more than £10m in digital technology.
The Deloitte research project surveyed 51 executives from the most prestigious UK private and public sector firms. According to the results, 85% of digital technology leaders plan to invest in Artificial Intelligence by 2020.
Although cyber security is currently the main priority for 78% of them, AI is rapidly becoming the new frontier of British executive spending.
A quarter of those surveyed will be invested in AI by the end of 2017, with another 38% planning to do so by 2020. A further 16% will examine the possibilities of AI, although they remain uncertain about the timing. None of them, however, said they would never be interested in investing in AI.
When it comes to robotic automation, however, 9% of respondents said outright they were not interested.
Earlier this year, research by McKinsey & Company suggested that by 2055 up to 60% of all work activities might be automated.
These results could indicate that although manual labour in the manufacturing industry could eventually be largely replaced by robotic automation, this technology will not enjoy the same market penetration as AI in an office environment. The use of AI technologies might become far more widespread than robotics in this field, although it’s not difficult to see a certain percentage of back-office administration eventually being replaced by automated systems.