Are Irish companies ready for artificial intelligence?

How prepared are Irish businesses for the onslaught of artificial intelligence (AI)? And how do they feel about the technology? It depends on who you ask.

A recent survey from Accenture painted a largely positive view of generative AI and the possibilities for businesses, offering companies the chance to boost innovation and take advantage of what the new technology has to offer.

Although it has got off to a rocky start, it seems as if many workers are willing to embrace the possibilities of chatbots and other new technologies, such as spatial computing.

Aviva re-entering the Irish health insurance market: ‘this can only be good news for all consumers’

Listen | 44:04

But the truth is that the new technology also injects a note of uncertainty. A recent survey from Dell showed that 71 per cent of businesses in Ireland have a strategy in place to harness the power of AI, leaving almost 30 per cent who are less certain.

Is there an alternative to banning children from social media?

---

O’Connell Street landmark with full planning for boutique hotel seeks €9m

---

As more of us live longer, we need to change not only how we age, but how we think about age.

---

While 92 per cent think generative AI tools can be used responsibly by organisations, almost half of organisations said they were struggling to keep up with the developing technologies. More than half, 56 per cent, are unsure about what their respective industries will look like in the coming five years.

Part of the issue lies in the same old problem: getting the right staff with the necessary skills. Dell’s study said 43 per cent of companies found a lack of talent a barrier to innovation, while a third said a lack of budget was holding them back, and almost a third blamed outdated technology.

There are some answers, however, with almost 60 per cent of organisations focusing on training employees to use the new technologies.

However, both studies agree on the potential offered by the new technology. Companies have been using automation and machine learning for several years, helping to make their processes more efficient. But the new generation of AI will help supercharge things, with almost half saying it could improve IT security, and 42 per cent citing productivity gains as a key benefit.

It remains up to each organisation to properly implement the technology, if they want to get the most out of it. Ignoring it is no longer an option.

• Sign up for Business push alerts and have the best news, analysis and comment delivered directly to your phone
• Find The Irish Times on WhatsApp and stay up to date
• Our Inside Business podcast is published weekly - Find the latest episode here