41% of UK businesses believe AI would make their business models redundant: Microsoft Report

Microsoft has conducted a survey of more than 5,000 business leaders and employees of large enterprises across United Kingdom. The survey focused on Artificial Intelligence and its impact on business. Further, it also solicited opinions of business leaders about the technology.

The outcome of the survey is startling to say the least.

41 percent of business believe that their current business model would stop to exist in next 5 years. And yet, 51 percent of business leaders confessed that they do not have a an AI strategy in place yet.

On the employee front, 45 percent of the employees have concerns that AI would take their job. And still, 51 percent of them said that they are not re-tooling themselves yet, to brace for change.

Some companies, like Barclays are taking Machine Learning as an opportunity and not as a threat. Yet many have yet to embark on a path to embrace the change.

While this could be survey of one leading country’s business people, more or less, it reflects the sentiments of business across the globe.

Concerns coupled with anxiety. Still most of the business are sitting on the fence. Action in suspension. Sometimes due to lack of resources and inertia associated with any change.

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