Prospect of artificial Intelligence of limited concern for UK SMEs – Production Engineering Solutions

The majority of the UK's SMEs are largely unconcerned about the prospect of artificial intelligence (AI), with the potential of improved productivity seen as a possible major benefit, according to research from Close Brothers Asset Finance. The results were obtained from the Close Brothers Business Barometer, a quarterly survey that questions over 1,000 UK and RoI SME owners and senior management across a range of sectors and regions. "The potential impact of the rise of artificial intelligence and the so-called fourth industrial revolution have been discussed and debated for some time now," said Neil Davies, CEO, Close Brothers Asset Finance. "What our survey tells is that 65% of firms feel that AI is either going to improve productivity or that it's too far in the future to be worried about. The remaining 35% are more apprehensive, citing ethical concerns and the threat to jobs as their reasons for not being advocates of AI."