Over the next five years, the top three technologies that are set to move from the fringes to the business mainstream are Artificial Intelligence (AI), Blockchain and the Internet of Things, according to CBI research. In fact, half of businesses think AI will soon fundamentally transform their sector.
In the CBI’s new report, ‘Disrupting the Future’, the UK business group highlights how firms and the government must pave the way for adoption of cutting-edge technologies, tackling the barriers that businesses are facing: and security must be top of mind at all times.
The CBI is calling on the UK Government to establish a joint commission in early 2018 involving, business, employee representatives, academics and a Minister, to examine the impact of Artificial Intelligence on people and jobs, setting out plans for action that will raise productivity, spread prosperity and open up new paths to economic growth.
Josh Hardie, CBI Deputy Director-General, commented:
“Much is made of new technologies and how they will impact companies in 10 or 20 years, but these are no longer ideas on the fringes and are shifting rapidly into the business mainstream.
“The UK must lead the way in adopting these technologies but we must also prepare for their impacts. That’s why we urge the Government to set up a joint commission on Artificial Intelligence in 2018, involving both business and employee representatives, to better understand the impact on people’s lives, jobs and our future economic growth.
“Artificial Intelligence solves problems. Blockchain changes how businesses exchange value. The Internet of Things unlocks big data. Companies of all sizes, in any sector and across the UK have a golden opportunity to benefit and lift their productivity. “Businesses that invest and innovate tend to grow quicker and get the best out of their workforce.
“But while these technologies are in action now, regulatory hurdles, security concerns and finding people with the right skills, mean that many firms are slow to adopt.”