07 November 2023
The hottest topic in technology during 2023 has undoubtedly been generative AI. The launch of ChatGPT has heralded debate, excitement and investment, with more to come. The impact of generative AI extends far beyond the media and technology industry – across the business world and society.
Having surveyed mid-market business leaders across the UK, we posed the same questions to our media and tech respondents.
Tech and media businesses more cautious with generative AI
Tech and media businesses are showing more caution than the mid-market in general, with only 26.5% of respondents claiming to be actively using generative AI in one or more areas of their business, compared to 45% in the broader market.
Media businesses are utilising generative AI tools slightly more so than tech businesses, with 25% actively using it compared to 27% in media companies, while tech companies had a marginally higher proportion of respondents still in the experimental phase (50% compared to 48%).
74% of tech and media companies see gen AI as a threat
Many UK Technology companies will be operating at the tip of the spear of AI. Debates over AI safety and ethics will have been held for years and these businesses will have a role to play in an emerging data-driven landscape.
UK set to be a global leader in AI
UK tech boasts strong credentials as a leader in AI, with the sector well positioned to take its place on the global stage. The rewards of being a global leader in this area could be vast for the UK, with huge opportunities for growth and employment if businesses choose it as their base. As AI is deployed and integrated across all industries – a strong UK AI Tech ecosystem can have a halo effect on the economy, as well as giving the UK government credibility in determining frameworks and policies in the debate over the oncoming decades.
'The UK has grounds to argue it leads the rest of the world behind the United States in the field of AI. With a Prime Minister positioned to champion the importance of AI and a growing eco-system, the UK is well positioned to take a place on the global stage.
There will undoubtedly be challenges and progress will be made in close collaboration with international partners. The gap with the United States cannot be closed overnight – but positive steps can be made by UK government by establishing policies that reward business innovation in AI and encourage healthy immigration of world-class talent.'
Ben Bilsland, Partner and Media & Technology Industry Senior Analyst