According to a recent survey conducted by the Chartered Management Institute (CMI), managers in the UK are showing growing worry towards AI technologies.
Many leaders have voiced concerns regarding security threats and potential job displacement.
The study comes with the recent pledge at London Tech Week from the Prime Minister Rishi Sunak to make Britain a safe hub. He also announced a global summit in the autumn on the topic.
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The study asked 1000 UK-based managers about AI and businesses.
The study revealed 75% of managers are worried about the security and privacy risks of using AI technology. It also revealed 43% were also concerned that their jobs will be at risk because of AI.
A further question was asked if the managers were prepared for the new AI technologies, 52% said their business wasn’t up to date with the latest advancements in AI and 20% said their business isn’t staying up to date.
When asked if the managers had any training in AI such as ChatGPT and Googles Barb, only 4% said they have received any, with 72% saying employees in the business haven’t had adequate training to work with AI.
Surprisingly, considering AI is currently in the media so much 62% of managers said they are not engaging with current AI tools. Most also said they had never used ChatGPT (62%).
The Chartered Management Institute is urging leaders and managers to enhance their knowledge of new AI technology and encourage their teams to do the same, in order to fully embrace its potential benefits.
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“The greatest risk is not that AI will radically transform work and organisations, it’s that our fears will mean that the UK is likely to miss out on many of the potential benefits. Our survey backs this up and suggests that British workplaces are not ready to take advantage of the new wave of AI. We will pay a big price for this economically.”
“Managers will be responsible for seeing widespread adoption of AI in businesses and organisations across the UK, but their concerns could prevent companies from seizing the opportunity that these new technologies offer. Yes, we need much better regulation of these technologies, but we also need managers to be bolder, educate themselves on these new technologies, and embrace the opportunity they present.
“AI technology has the potential to make managers’ lives easier with the tools able to rapidly analyse data, automate repetitive and mundane tasks, and better track company performance. Companies must train and prepare managers to handle these technologies if the UK is to fund a way out of the economic doldrums.”
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The use and effect of AI technologies on businesses are still unclear but from the study conducted by the CMI, most managers are not fully equipped for this possibly big change in peoples working lives.
As an employer, it’s good to think about exploring the benefits and disadvantages of AI. It would be wise to draw up an AI policy, so employees know what is and isn’t appropriate when using AI technologies.
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AI stands for artificial intelligence and involves a machine performing and understanding different tasks based on its experience. The level of intelligence is more on the level with human intellect where it would be able to reason and think like a human.
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