Job losses due to AI are the top concern among mid-market company IT decision-makers.
According to Node4’s Mid-Market IT Priorities Report 2024, job loss fears are highest among CTOs (37 per cent), followed by heads of IT (29 per cent), IT managers (29 per cent), IT directors (27 per cent) and CIOs (26 per cent).
It's also a common worry across each vertical sector covered within the report, with a substantial number of respondents in mid-market finance (36 per cent), retail (29 per cent), private healthcare (27 per cent), insurance (27 per cent) and transport (25 per cent) organisations feeling the same way.
Thirty per cent of respondents also said that AI represents a top cyber security threat over the next 12 months, while 28 per cent believe the technology could expose their organisation to new cyber security risks, and 25 per cent think AI could accidentally reveal sensitive corporate information.
This is reflected in the fact that respondents said dealing with AI-related threats is their top cyber security priority for the remainder of 2024 and a lack of security is the top barrier to AI adoption.
Node4's research suggests that most mid-market organisations intend to seek help from third parties in addressing their lack of security, as well as other key AI adoption barriers, including poor data availability and data quality. In terms of dealing with a lack of security, most respondents said that they would rely on a mix of cloud providers (50 per cent), retained consultants (40 per cent) and MSPs (34 per cent). A similar proportion said that they would opt for third-party support to deal with a lack of data availability (cloud providers 50 per cent, MSPs 42 per cent and retained consultants 36 per cent) and data quality (cloud provider 57 per cent, MSPs 35 per cent and retained consultants 32 per cent).
"IT decision-makers identified potential job losses and cyber security risks as their two top AI adoption concerns," said Geoff Barlow, product and strategy director at Node4. "At this stage, it's sensible to take stock and understand not only these key issues, but how AI could also enhance your organisation. Our research suggests respondents are doing precisely that—and with great maturity and informed opinion."
He added, "Respondents appear concerned that their organisations can't keep pace with the necessary retraining to mitigate against job losses or evolve for an AI-driven economy. They’re also worried about the rapid rate at which new cyber security threats are emerging. My advice on both counts is to plan and prepare now. We know that great leaps in technology actually create new roles and opportunities. IT leaders should take a proactive stance by educating themselves and their organisation, evaluating the scope, scale and speed of their own AI adoption, putting the right processes in place to facilitate upskilling and engaging the necessary third-party support."