BDO Corporate Finance is set up locally at the Corporate Department reconnaissance I examined how local economic actors relate to AI, what are the main application areas, and what are the main factors limiting the use of AI. The survey results revealed this
Although AI offers great opportunities, adoption of the technology is often limited by lack of resources, insufficient data quality, and lack of expertise.
Based on the results of the survey, the consulting company's first study on artificial intelligence was completed, which is based on questionnaire research. 100 people participated in the research, a third of whom work in large companies, while two-thirds of them work in the small and medium-sized companies sector. Owners, senior and middle managers as well as employees also participated in the survey, so it was possible to evaluate AI-related experiences in the local corporate sector from several perspectives.
Based on the results, it can be said that individual feelings towards AI are determined by the position it holds. Although the vast majority of respondents are positive about the rise of AI, it is still interesting that, essentially, there is more curiosity at the top of the corporate hierarchy, and more negative sentiment about AI at the bottom. The likely reason for this is that while owners and senior managers primarily see efficiency and profitability improvements in AI, there is a higher percentage of employees who fear losing their jobs. For this reason, it is recommended that managers develop tailored communications to target groups within the organization regarding AI.
The survey also revealed that responding local companies today mainly use AI solutions in marketing and sales, but practically all areas of the company already have AI experiences. Those companies that were able to report measurable results primarily indicated improvements in productivity without cost reductions. From this we can conclude that the productivity improvement that occurred as a result of the application of artificial intelligence did not usually come at the expense of jobs.
Benefits achieved as a percentage of respondents. Source: BDO CF Survey
The survey also addressed the factors that inhibit the spread of AI: It can be said that the maximum use of AI in the corporate sector today is primarily the lack of skilled labor. The majority of participants stated that they do not have the appropriate competency in AI, or that there is not enough capacity for it within the organization. In addition, weak company processes and insufficient quality data were also cited as limiting factors in the survey.
Limits of use of artificial intelligence by percentage of respondents. Source: BDO CF Survey
Overall, data analysis maturity for the local corporate sector is very sparse. It seems that those companies that already have experience in this field have been able to improve efficiency through the use of artificial intelligence and thus become more competitive. Business managers who plan to engage in AI development should focus on three things:
- Sufficient foundations: Based on the survey, it seems that processes and data themselves are one of the main barriers to the application of AI today, which must be overcome.
- Data-Driven Culture: New technology can play an important role in creating a data-oriented organizational culture.
- Expectations: Based on the survey, it appears that companies that already have the experience to implement AI applications will be the first to go. However, this can also be started “on a small scale” for companies that do not yet have experience with AI. This does not require huge developments in information technology. It is worth identifying projects (so-called pilots) that can be implemented within a few weeks and collecting crumbs of success little by little. Through this approach, risks (resources and applicability) can also be reduced.
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