There has been a surge in artificial intelligence (AI) activity within Irish companies according to a new business survey.
Two-thirds of firms here said they are either at the testing or partial implementation stages of AI adoption. This is up from less than half in June 2024.
The survey, from PwC, looked at both AI and generative AI (GenAI), which uses generative models to produce text, images, videos, or other forms of information.
The survey results show that while significant preparation is underway, companies remain cautious with just 6% reporting widespread adoption of AI. It also shows significant optimism for the technology with 86% of business leaders believing the overall impact of AI on Ireland’s economy in five years time will be positive.
Businesses continue to be positive about the overall economic impact of GenAI but investment in upskilling is required to harness the opportunity.
The outlook from a jobs perspective also remains positive with three-quarters (75%) of business leaders expecting an increase or no net impact on jobs in Ireland as a result of GenAI, up from 55% in June 2024.
“While organisations are interested in understanding the potential for AI to transform their businesses, their immediate focus is on ensuring that the right guide rails – both organisational and technical – are in place before they move beyond innovation to an adoption at scale mindset,” David Lee, Chief Technology Officer, PwC Ireland said.
Less than half (46%) of business leaders are confident in their organisation’s ability to assess return on investment from their current AI initiatives. A significant majority (71%) expect GenAI will significantly change the way their organisation creates, delivers and captures value in the next three years. However, the current focus continues to be on operational efficiencies and productivity; 74% question whether GenAI will deliver increased revenue. However, there were fears that the technologies could create a cyber threat.
Martin Duffy, Head of GenAI, PwC Ireland, said: “Good governance, grounded in an organisation’s risk appetite, provides clarity and a safe environment for the business to innovate and explore AI uses. The business can then focus on faster adoption of AI without exposing it to unnecessary or unforeseen risks.”