Over half of Irish executives believe AI will not replace staff

Most Irish firms have now dropped the idea that artificial intelligence (AI) will replace some of their workers.

According to new research from PwC, fewer than half of senior Irish executives believe AI can replace their staff.

This figure is down from 70pc from the same PwC survey last year.

It comes after government-backed research this month suggested a third of Irish workers’ jobs are at risk because of AI.

However, a majority of Irish executives surveyed by PwC said that while AI will benefit their business, they have no idea how.

According to the PwC research, 83pc of the executives think AI will have a “positive” or “transformative” impact on their businesses in the next five years.

But only 26pc can actually name any benefit, or “operational efficiency”, coming from the technology.

And just 7pc have implemented AI in their ordinary business operations, the same number as this time last year.

According to the survey, the main Irish company uses for “generative” AI, such as ChatGPT, Anthropic’s Claude or Google Gemini, are cyber-defence (34pc), IT development (22pc), “improving collaboration” (17p ), sales and marketing (12pc) and “enhancing supply chains” (10pc).

The survey of senior Irish executives also shows that nine out of 10 Irish executives believe AI will increase their cyber-security risks, and four out of five think it will heighten other risks such as legal liabilities and reputation risks (79pc), the spread of misinformation (74pc) and “bias towards specific groups of customers or employees” (59pc).

Despite three-quarters of respondents saying that they intend to put in place AI or generative AI governance structures, only 7pc have done so, according to the PwC research. Most companies welcomed the EU’s AI Act, however.

Nearly three-quarters of survey respondents said that generative Al “will not enhance” their organisation’s ability to build trust with shareholders in the next 12 months.

“With the majority of Irish business leaders not having confidence that GenAl (generative AI) will enhance their organisation’s ability to build trust, significant focus on implementing governance structures will be critical,” said Martin Duffy, head of GenAl, PwC Ireland.

“Good governance of Al systems will soon become a legal requirement under the EU Al Act. To realise Al’s value responsibly and securely, organisations must establish robust governance frameworks to be able to measure the benefits.”

Get ahead of the day with the morning headlines at 7.30am and Fionnán Sheahan's exclusive take on the day's news every afternoon, with our free daily newsletter.

OTHER NEWS

1 hour ago

Massive oil spill after tanker containing 1,400,000 tonnes of fuel capsizes

1 hour ago

Asylum seekers stuck in limbo as Cyprus rebuffs calls to act

1 hour ago

487 Ukrainian athletes killed following Russia’s invasion honoured in Parliament Square

1 hour ago

Liverpool transfer news today: Van den Berg DELAY, Slot's COMMITMENT, Huijsen BATTLE

1 hour ago

Gaza strikes kill 121 Palestinians and injures dozens as Netanyahu vows 'total victory'

1 hour ago

Battery firm LG Energy Solution Q2 profit plunges on weak EV demand

1 hour ago

Clyde Drexler's original Dream Team gold medal is up for auction and has a starting bid of $250,000

1 hour ago

Map Shows States Kamala Harris, Donald Trump Are Winning in Polls

1 hour ago

Wedding guest stunned by bizarre details in text message invitation

1 hour ago

‘Obscene’ wealth gap gulf as Aussie billionaires get $120bn richer since start of pandemic

1 hour ago

Self-radicalisation a key threat to Singapore: 7 takeaways from ISD’s annual terrorism report

1 hour ago

Terrorism threat in Singapore elevated since Israel-Hamas conflict: ISD

1 hour ago

‘Most unlikely’ that a guiding hand will no longer be needed to manage sensitive matters: SM Lee

1 hour ago

Soccer-NZ Football seek urgent action from FIFA over drone incident

1 hour ago

Video: Ouch! Kourtney Kardashian can't hide her outrage after baby Tatum mistakes her for Kris Jenner despite 23-year age difference

1 hour ago

Kaizer Chiefs: Nasreddine Nabi's side suffer huge blow over their interest in signing Europe-based Bafana star this summer

1 hour ago

Paris 2024 schedule Day 2: Women's football, rugby sevens, archery and handball

1 hour ago

SA’s racial tensions | Pretoria Girls High staff investigated

1 hour ago

Olympic VAR brought Argentina and Morocco back to play 3 minutes after it overturned a tying goal hours later

1 hour ago

Oregon fire is the largest burning in the US. Thunderstorms and high winds are exacerbating it

1 hour ago

Wind power can be a major source of tax revenue, but officials struggle to get communities on board

1 hour ago

Africa's demand for cooling systems is expanding. But regulating the industry is a struggle

1 hour ago

Israeli Cyber Giant Names Ex-IDF Commander as CEO

1 hour ago

Jennifer Aniston Rips Trump VP Pick J.D. Vance For “Childless Cat Lady” Remarks

1 hour ago

Starmer’s first PMQs was a show of unity – but it won’t last

1 hour ago

4 Reasons Kamala Harris Could Be Good for Your Social Security Check

1 hour ago

'Lifelong Republican' ex-GA lieutenant gov. endorses Kamala Harris

1 hour ago

Video: Kylie Jenner calls Nobu chefs to her $36 million mansion for reality show dinner - but one major topic is totally off-limits

1 hour ago

Video: King's day of pomp and pageantry: Charles dons his royal regalia for state opening of Parliament filled with gold, grandeur and 500 years of tradition - with Queen Camilla by his side

1 hour ago

Video: So what is Kim Kardashian's biological age? Reality star 'livid' by results as family share details of DNA tests… and Kris Jenner is furious too

1 hour ago

Video: Today show host Karl Stefanovic says Brisbane needs to 'get their act together' for the 2032 Olympic Games

1 hour ago

Video: Melbourne dad is allegedly attacked by thief after trying to get back his stolen car

1 hour ago

Video: Shocking decline in looks of 'murderer' Law & Order star as he makes dramatic plea at his latest court appearance

1 hour ago

Kendall Jenner reveals her hopes for the next decade and insists she 'would love' to be a mother

1 hour ago

Poh Ling Yeow: MasterChef judge’s incredible response to ex-husband Jono Bennett moving on with best friend

1 hour ago

3 ASX All Ordinaries shares smashing multi-year highs while the market dives

1 hour ago

Goose Island Announces 2024 Bourbon County Brand Stout Variants

1 hour ago

Band opened for Foo Fighters, but can't make rock pay

1 hour ago

House votes to form task force to investigate shooting at Trump rally, recommend legislative fixes

1 hour ago

CrowdStrike reveals what went wrong — and it's pretty much what we expected