SMEs don’t want to use AI – it’s not safe enough for them

Key Takeaways:

– 43% of UK SMBs do not plan to integrate AI into their business within the next year due to concerns about the safety of the technology.
– Only 17% of SMBs think that current regulations relating to AI are adequate.
– 76% of SMBs think that the UK government should introduce more regulations for AI.
– The UK is holding its first global AI safety summit to discuss how to regulate powerful AI tools.
– SMEs demand responsible development of AI and the implementation of safeguards.
– The DMA supports government proposals to regulate AI more, but cautions against a strict regulation-first approach that could stifle innovation.
– 28% of SMEs believe that AI could help improve training and development, while only 15% think it would boost the UK economy.
– Consumers are worried about AI leading to job loss, privacy and information concerns, societal detriment, and national security.
– 66% of consumers believe that UK regulatory bodies can keep pace with AI development.

TechRadar:

It seems that nearly half (43%) of all UK SMBs do not plan to integrate AI into their business within the next year, citing the safety of the technology as a concern.

A report from the Data & Marketing Association (DMA), found that only 17% thought that current regulations relating to AI were adequate enough, and a massive three quarters (76%) thought that the UK government should introduce more.

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AI Eclipse TLDR:

A recent report from the Data & Marketing Association (DMA) reveals that 43% of small and medium-sized businesses (SMBs) in the UK have no plans to integrate artificial intelligence (AI) into their operations in the next year. The main concern cited by these businesses is the safety of the technology. The report also found that only 17% of SMBs believe that current AI regulations are sufficient, and 76% believe that the UK government should introduce more regulations.

In response to these concerns, the UK is set to hold its first global AI safety summit, where tech leaders, experts, and government officials will discuss how to regulate AI tools effectively. The report highlights the strong demand from SMBs for responsible AI development and the implementation of safeguards. Rachel Aldighieri, the managing director of DMA, believes that building ethical frameworks based on values such as accountability, transparency, and public safety and trust will instill confidence in businesses to use AI and drive innovation.

While DMA supports the government’s proposals to regulate AI further, Aldighieri also cautions against a stringent regulation-first approach, as it may hinder innovation and create mistrust among businesses. Instead, she suggests that industry leaders and regulators should provide more direction, support, and structure to help businesses use AI effectively and responsibly.

Regarding the benefits of AI, 28% of SMBs believe that it could improve training and development, while only 15% think it will boost the UK economy. The DMA suggests that the government should contribute more to upskilling and education within businesses to fully realize the potential of AI technology.

Consumers, on the other hand, have concerns about AI taking jobs (37%), privacy and information security (34%), societal detriment (27%), and national security (24%). However, many consumers express confidence (66%) in the ability of UK regulatory bodies to keep pace with AI technology’s development.