UK CEOs Back AI for Productivity, but Only 14% See Its Costs
An EY report finds over half of UK CEOs credit AI for productivity gains, yet most lack real-time cost visibility and ROI assessment.
An EY report published this week found that more than half of UK CEOs credit AI as one of the three biggest contributors to their productivity improvements over the past year, according to techradar.com.
Only 14% of UK CEOs, however, have full real-time visibility over their AI costs, the report found, and one in three say they are unable to properly assess AI's return on investment.
CEOs also identified obstacles to wider AI adoption: 34% cited legacy systems as a major blocker, while 29% pointed to organizational complexity.
Skills gaps remain a concern. 74% of UK CEOs expect these gaps to worsen over the next three years.
Background
Four years ago, generative AI was considered to have gone ultra-mainstream with the public launch of ChatGPT.
Quick answers
How many UK CEOs have real-time visibility into AI costs?
Only 14% of UK CEOs have full real-time visibility over their AI costs, according to the EY report.
What are the main blockers to AI adoption among UK CEOs?
34% of UK CEOs cite legacy systems as a major blocker, and 29% cite organizational complexity.
Do UK CEOs expect AI skills gaps to improve?
No, 74% expect skills gaps to worsen over the next three years.