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Study: Companies optimistic about AI but only 46% are acting on it

Study: Companies optimistic about AI but only 46% are acting on it

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As more companies consider adopting AI into their operations, 83% of businesses decision makers are optimistic about AI. However, only 46% are investing to upskill their employees in AI learning and programs, revealing a vision-action gap.

In fact, only 26% of respondents in Singapore say their company is encouraging personal experimentation and the adoption of AI for work and personal use cases.

Don't miss: Study: 55% of businesses plan to increase their use of AI for social media

However, 66% of employees in marketing and communications roles believe that their departments stand to benefit the most from a greater adoption of AI. For example, 44% believe that AI will bring about improved innovation and creativity.

These were the results of WE Communications’s latest ‘brands in motion’ report which highlighted that 92% of respondents have at least some concerns around the greater adoption of AI in their organisation.

More specifically, issues with quality control are the biggest concern with AI adoption in Singapore (35%) with cybersecurity risks following closely behind (34%). Other concerns include an over-reliance on AI technology (30%) and an existential threat to humanity or society (27%).

Fears of being made redundant with the rise of AI are warranted as the report stated that 48% of job roles and functions may be eliminated in the next two to three years in Singapore due to AI technology. This figure is higher than the global average of 39%.

Apple’s latest short film titled "Crush” for its new iPad Pro recently received flak for hitting a nerve with people’s fears of losing their jobs to AI when the film crushed a tower of everyday and creative items with a hydraulic press. The press then opens to reveal the thinnest iPad it has made and highlight the vast features and capabilities of its new M4 chip.

Building and retaining trust amidst AI adoption

To help mitigate job uncertainty among employees, 29% of business decision-makers actively communicate AI’s benefits within their organisations in Singapore. This includes transparency about how the organisation is using AI or future plans to use AI in different areas within the organisation.

Notably, the figure in Singapore is lower than the global average of 37% who desire transparency with their organisation’s use of AI.

53% also think it’s extremely important that vendors and business partners openly disclose and communicate their use of AI technology in their workplace and operations. Similarly, 50% think it's extremely important their customers do the same even as most recognise the importance of sharing such information.

However, only 22% of respondents in Singapore say that their organisations should be more transparent about its use of AI compared to their vendors.

Interestingly, 48% of respondents have had their human resources or employee experience guidelines updated to include language on AI software, usage and/or ethics compared to 39% in Singapore.

Join us on 12 June 2024 for an exciting experience as Content360 makes its debut in Malaysia! Brace yourself to join the crème de la crème of the content marketing industry hailing from across the region. Immerse yourself in a dynamic atmosphere, and uncover the latest trends with thought leaders and solution providers from the realm of content.

Related articles:
Why half of Malaysian CEOs have yet to adopt Gen AI in their work
Apple crashes with 'Crush' ad for iPad Pro. Creatives explain why

Meta's new gen AI feature will work for ad efficiency, but only if the starting point is right

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