The Confederation of British Industry has called on the Government to make the next 10 years Britain’s ‘adoption decade’. #
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The rollout of artificial intelligence (AI) must be made a national economic priority and firms need to move past “pilot mode” to avoid being left behind in the race to adopt the new technology, according to an influential business group.
The Confederation of British Industry (CBI) has called on the Government to make the next 10 years Britain’s “adoption decade” and put AI at the heart of its strategy for the economy and nation’s workforce.
In a report published by the CBI and Oliver Wyman, they warn that there is a growing “execution divide” for companies who are scaling up the use of AI throughout their organisation and those left in so-called pilot mode.
Almost half (49%) of firms who are leading the way in using AI report that they are meeting or surpassing their expected return on investment, compared with just 15% of those which are behind in rolling out AI, according to research by Oliver Wyman Forum and the New York Stock Exchange.
Rain Newton-Smith, CBI chief executive, said: “The next chapter of AI won’t just be defined by what we invent, but by how quickly we can put it to work at scale.
“Britain now needs to treat AI adoption as a national economic priority.
“Government and business should set a shared ambition to make the UK the best place in the world to adopt AI responsibly, and then relentlessly focus on delivery.
“That means moving beyond pilots and putting AI to work across our economy, giving businesses the confidence to invest and workers the skills and security to embrace change.”
The plea is for the Government to work with business, workers and civil society to “accelerate adoption of AI, build public confidence and ensure it delivers better jobs, higher living standards and stronger growth in every part of the country”.
The CBI wants the Government to set up a business AI adoption delivery group, lay out a voluntary responsible AI adoption code and public pledge, invest in AI skills at all levels and develop a national AI literacy standard, and have easy-to-navigate regulation surrounding the technology.
“If we get this right, the prize won’t be measured in technology alone – it will be measured in better jobs, rising wages, stronger businesses and higher living standards,” Ms Newton-Smith said.
It comes after Prime Minister Andy Burnham appointed Kanishka Narayan as the UK’s first AI minister.
Mr Narayan said the CBI’s report is a “welcome contribution” to the debate on how to realise AI’s full potential.
He added: “We are committed to making the UK the leading adopter of AI in the G7.
“That is why we are working with industry to give 10 million workers AI skills by 2030 and investing more than £200 million to support workers and businesses in adopting the technology.”
The report comes as separate research by Lloyds Banking Group found more than half (58%) of firms say they believe AI has created jobs within their organisations, but that almost a third (31%) say their workforce does not yet have the skills needed.
The survey of 1,200 UK businesses showed 61% of firms say they currently use AI, with just under half (46%) of domestically-focused businesses more likely to use the technology, compared with 63% of firms operating overseas.