Businesses in the United Kingdom are being held back by unclear regulations. This could be one of the reasons why AI adoption in the region is going slow, according to new research.
In its latest study, Freshworks surveyed over 7,000 senior decision-makers and managers across 12 countries.
Trust in AI Amid Regulatory Uncertainty
Freshworks revealed that 65% of UK business leaders trust AI to add significant value to their operations. However, 35% cite unclear regulations as the main obstacle preventing wider AI integration.
This regulatory uncertainty poses a hurdle to the businesses that intend to use AI. In return, this stifles innovation and the potential benefits that AI could bring to various industries.
The Call for Clearer AI Regulations
UK business leaders are vocal about the need for clearer AI regulations. Freshworks discovered that the average leader in the UK saves over three hours per week using AI tools, with 11% saving more than nine hours, equivalent to an entire workday.
According to TechRadar, despite these time-saving advantages, over 37% of UK leaders have no plans to incorporate AI into their workplaces, primarily due to regulatory ambiguities. This concern is more pronounced among British respondents compared to their international counterparts.
Cautious Approach to AI Integration
Even those exploring AI technologies anticipate a cautious approach, expecting a one to two-year period before seeing business impacts. Indeed, this hesitance highlights the need for more definitive regulatory frameworks to foster confidence in AI adoption.
Concerns Over AI Replacing Human Workers
The report also addresses the ongoing fear that AI could replace human jobs, with nearly 46% of respondents worried about job displacement in their sector. Since this is all about AI, we all know that it's capable of doing what we normally do.
"The AI era is firmly delivering on its promise to free up employees for higher-level work and showcasing compelling returns on AI," Freshworks CPO Prakash Ramamurthy said.
However, 70% of UK leaders would trust AI more if human review of outputs were mandatory, suggesting that AI's role as an assistive tool, rather than a replacement, could alleviate some of these concerns.
Common AI Use Cases
Regarding AI applications, the study revealed that content creation (43%), data analysis (39%), and brainstorming (35%) are the most common uses among UK businesses. These areas highlight where AI can provide immediate value, enhancing productivity and innovation.
The research by Freshworks highlights a critical juncture for UK businesses. While the potential of AI is recognized and trusted by a majority, regulatory uncertainties are no doubt barriers to its wider adoption.
Clearer, more definitive AI regulations are essential to unlock the full potential of AI, ensuring it serves as a valuable tool that complements human work and drives business innovation.
Meanwhile, Geoffrey Hinton and Yoshua Bengio, the "godfathers of AI," claimed that although regulations are here to come, they seem to be insufficient to handle the booming technology in society.
With AI hazards that could threaten the advancement of some technologies, researchers thought that safety frameworks are much needed.
