UK businesses ‘optimistic about AI’ amid cost control and talent challenges

However, as businesses continue to navigate difficult trading conditions, controlling costs, attracting talent and upskilling the workforce remain key priorities highlights the report.

As businesses face challenges such as an ageing workforce, attrition, and leaner teams, many are turning to AI as a solution to increase the attractiveness of work.

The report shows that 79% of UK respondents trust AI technologies, and 83% agree that AI will enhance their industry, indicating an overall optimism for the technology.

The report also found that AI is shaping business transformation across industries as trust in AI is growing, with over three-fifths (61%) saying they are approaching or have achieved their goal of incorporating AI. Businesses are using AI to increase productivity and automate work, and leaders predict that generative AI will help people make critical design decisions about physical products, buildings, and digital assets in the next few years.

UK businesses identified cost control as the top challenge experienced by over a third (35%) of leaders, followed by environmental sustainability (29%), and attracting, training and retaining talent (28%).

Autodesk says that while UK industries are seeing increased productivity (34%), better reputation (31%) and improved profitability (30%) when investing in technology, a number of barriers prevent businesses from investing at the levels they would like. In fact, 39% of respondents said that cost was a barrier and 37% felt a lack of knowledge or technical skills to implement digital solutions was holding them back.

“It’s encouraging to see a level of optimism once again in the UK industry despite the obvious challenges we have faced, and despite a continued level of uncertainty ahead. As we navigate these waters, it’s unsurprising that cost and talent management issues remain front of mind,” said Asif Moghal Director, D&M Market and Industry Development at Autodesk.

“Adopting technologies that speed up product development agility, innovation, collaboration, operational efficiency and throughput can have a direct impact of managing costs as well as increasing the value-add potential for the UK. Whilst we still have a talent gap, digital technologies will enable the amazing people in our industry to achieve even more by augmenting their existing talents,” he continued.

Download the 2024 State of Design & Make Report here