UK business needs to 'get serious' about Artificial Intelligence, Microsoft report claims - News for the Oil and Gas Sector

Businesses in the UK need to move beyond tinkering with artificial intelligence (AI) and get on with seriously harnessing the technology at scale to compete on the global stage, a report by Microsoft has said. The tech giant has found that organisations already using AI at scale are performing better than those which are not, by making them more productive, showing higher profitability and producing better business outcomes. But it warned that there is a clear and widening gap between companies using it fully and those still in the early testing phase or simply not implementing it at all. It fears firms being cautious because of the current political uncertainty could miss out, with the retail sector among the weakest adopter surveyed, while financial services have ramped up their approach to AI. Some 43% of the finance-related companies who participated in the study said they used AI for more automation this year, compared with 28% the year before.