That rises to 88 per cent for organisations reporting high (+25 per cent) 2023 revenue growth and dips to 65 per cent for those reporting low growth (1 to 5 per cent), flat revenue or decline.
The research suggests that while there is broad optimism for AI and genAI, however, the extent to which organisations are prepared for the rapid pace of change varies greatly. Eighty-one per cent say that they are well positioned competitively and have a solid strategy.
However, 41 per cent of respondents are uncertain what their industry will look like in the next three to five years and the same number say that they are struggling to keep pace. While lack of talent is still a concern (40 per cent), it is lack of time (44 per cent) that poses the main challenge, followed by lack of budget (42 per cent).
Respondents see more value in the technology's abilities to streamline processes (34 per cent). However, they also expressed awareness of the challenges to overcome. Sixty eight per cent fear genAI will introduce new security and privacy issues and 72 per cent agreed that their data and IP is too valuable to be placed in a genAI tool where a third party may have access.
More broadly, responses suggest that organisations are working through genAI practicalities as they transition from ideation to implementation. Globally, 58 per cent of respondents describe themselves as being 'early to mid-stage' in their genAI journey. As organisations increase adoption, concern centres around understanding where risks reside and who is responsible for them. Seventy eight per cent agree that the organisation, rather than the machine, the user or the public, is responsible for any AI malfunction or undesired behaviour.
Additionally, the report found that cybersecurity continues to be a pain point for organisations. These concerns appear well-founded, as 70 per cent of respondents say they have been impacted by a security attack in the past 12 months. The global majority 89 per cent are pursuing a zero trust deployment strategy, but when it comes to the UK, the figure drops to 69 per cent. The research also revealed that 54 per cent of respondents agreed that their security operations mainly consist of patch management and security updates. This presents an opportunity for organisations to more widely adopt zero trust.
The top three cited cybersecurity issues included malware, phishing and data breaches. Issues with phishing indicate a broader problem highlighted in the report: employees' role in the threat landscape. For example, 66 per cent of respondents believe that some employees go around IT security guidelines and practices because they delay efficiency and productivity, and 51 per cent say that insider threats are a big concern. This indicates a need to focus on training, as employees are the first line of defence.
The research also reveals modern data infrastructure's critical role as technologies such as genAI gather pace and data volumes increase. Investing in a modern, scalable infrastructure was cited as the number one area of improvement for businesses to accelerate innovation. Most IT decision makers (66 per cent) say that they prefer to build, train or use genAI models on-prem or by taking a hybrid approach. Seventy-three per cent agree that bringing AI to the data creates more value for the organisation because they can control it, the data is fresh, and they have secure access.
Most (78 per cent) respondents recognise that data is the differentiator for AI integration, and their genAI strategy must involve using and protecting that data. However, only 34 per cent currently say that they can turn data into real-time insights to support innovation efforts. This suggests that more data strategy rigour may be required to respond to the demands of genAI and the data it will both need and create. Twenty four per cent also claim that they are ready for the bulk of their data to come from the edge in the next five years.
Steve Young, UK SVP and MD, Dell Technologies, said, "The UK has a long history of leading innovation and is well-placed to conscientiously advance transformative technology. This exciting new wave of disruption and innovation presents massive opportunities for the boldest UK organisations – those with innovation in their DNA. By combining their people's ingenuity with the right technology and processes, these organisations can take smart risks, stay agile."
Dr Sally Eaves, UK senator, WBAF, said, "UK organisations demonstrate an innovation-friendly attitude by prioritising efficiency in their GenAI implementation plans. By automating mundane tasks, AI/genAI can free up the workforce to focus on more creative endeavours and drive bigger, better goals for the business."