A quarter of the UK’s top finance chiefs now see AI as a major driver of growth, up from just 14% a year ago.
In a major shift, UK chief financial officers (CFOs) from some of Britain’s biggest companies have become increasingly optimistic about the potential of artificial intelligence (AI) to boost their businesses. According to a recent report, these finance leaders have also downgraded their concerns about the impact of geopolitics on their operations.
The survey, which polled 100 CFOs at top British companies, found that 24% now see AI as a significant contributor to growth, up from just 14% in 2022. That’s a significant uptick in just 12 months.
This newfound enthusiasm for AI is also reflected in the CFOs’ views on the technology’s benefits. A significant majority (71%) now agree that AI will increase productivity, up from 55% last year. Similarly, 64% of CFOs believe AI will improve customer experiences, a jump from 46% in 2022.
On the flip side, the same survey shows that CFOs are becoming less nervous about geopolitics. Just 22% of respondents cited global events as a significant risk, down from 41% a year ago.
# What this means
For businesses, this shift in perspective has important implications. It suggests that companies are becoming more confident in their ability to harness AI to drive growth and improvement. That, in turn, could spur investment in AI-related projects and talent.
But what about the broader implications for the economy and society? As the UK’s top finance leaders become more optimistic about AI, they’re likely to push for increased investment in digital infrastructure and talent. This could have ripple effects throughout the economy, as more companies and industries adopt AI and automation.
# Key numbers
– 24% of UK CFOs now see AI as a significant driver of growth (up from 14% a year ago)
– 71% of CFOs believe AI will increase productivity (up from 55% last year)
– 64% of CFOs think AI will improve customer experiences (up from 46% in 2022)
– 22% of CFOs cite geopolitics as a significant risk (down from 41% a year ago)
# The outlook ahead
As the UK’s CFOs become more bullish on AI, they’ll likely continue to drive investment in the technology. This could have significant implications for the economy and society, as more businesses and industries adopt AI and automation.
