Nine out of 10 British businesses want to invest in new technologies

A new study shows nine in 10 British businesses plan to invest in new technology including adaptive AI, sustainable tech, neurotech, applied observability and digital immune systems, in the next 12 months.

The report from software and services company Advanced shows that 70 percent of businesses are either already using or researching ways to bring adaptive AI into their working practices, even though almost 50 percent of business owners are concerned about the risks of doing so.

Almost half of C-Suite respondents say they are concerned about the risks to their business in using AI tools. Moreover, 54 percent of those working in the IT sector say AI presents concerns regarding risk.

When asked about the top barriers to investment in these technologies, 41 percent say they are still attached to traditional or legacy methods. 34 percent suffer from a lack of buy-in from employees, 33 percent lack of confidence in the solutions available and 31 percent say they lack the budget.

Simon Walsh, CEO of Advanced, says, "The UK has often been seen as an earlier adopter of new technology and this research underlines a real hunger for new innovation to drive growth and efficiencies. Surveying over 6,600 UK business, the Advanced Trends Report paints a clear picture of the challenges and opportunities modern tech presents. Everything we now undertake on a day-to-day basis; as a citizen, an employee, a student, a tradesperson, depends in some capacity on technology and with that comes risk. Ensuring our organizations are safe and responsible just as much as innovative, efficient and transformational takes careful planning, monitoring and ongoing evaluation."

The report also shows the progress that many UK businesses have made since the pandemic with the vast majority having undergone significant digital transformation. 85 percent say they are confident or very confident that their current technology infrastructure fully supports their business model.

The full report is available from the Advanced site.

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