Three years after the launch of ChatGPT – the chatbot that heralded the arrival of large language models and generative artificial intelligence – Irish firms lag behind US peers when it comes to integrating the technology into their business models.
Fewer than one in 10 Irish businesses say they have broadly adopted the technology. The remainder say their adoption is limited or that they are exploring the use of AI agents – applications that can autonomously carry out tasks.
More than half of Irish business leaders say they believe AI will deliver a significant competitive advantage in the year ahead and 30 per cent believe it could fundamentally change how they do business. The US figures are 73 per cent and 50 per cent respectively.
A more conservative business culture this side of the Atlantic is clearly part of the equation, with only 7 per cent of Irish businesses saying they had high trust in the new technology to carry out complex tasks, such as financial transactions.
RM Block
PWC, the consultants who carried out the study, see lower levels of adoption and trust here as a “pivotal opportunity” for Irish companies that embrace AI more enthusiastically.
The case for caution is supported by the reality that AI has yet to prove itself by the measure that matters most – the bottom line. The survey found that a little over half of Irish firms had seen “measurable productivity gains” from using AI agents and only 38 per cent said it translated into cost-savings.
A separate report from consultancy McKinsey found that while two-thirds of organisations globally are exploring AI, only 40 per cent of them reported an improvement in earnings.
Evangelists will argue that more AI more quickly is the route to enhanced profits. The “build it and they will come” model chimes with the breakneck expansion pursued by the major AI players, who will spend over €300 billion this year. It is early days for what claims to be a paradigm shifting technology. For business it may be a case where the tortoise does better than the hare.
