UK businesses race to embed AI into enterprise workflows, EXL study finds

Core Insights - A significant majority of UK businesses (86%) have altered their operating models to integrate AI, with 39% completely redesigning their workflows [1][5] - Companies anticipate that 50% of their processes will incorporate AI within the next year [1] - The survey highlights the rapid growth of enterprise GenAI implementations but also identifies challenges such as data quality issues and talent shortages [2][5] Group 1: AI Integration and Investment - 88% of surveyed executives consider scaling AI initiatives very or extremely important for the upcoming year [5] - The average investment in AI per company is £23.2 million, yet barriers such as budget constraints and data privacy concerns remain prevalent [5] - Nearly 70% of companies report insufficient data accessibility, efficiency, quality, consistency, and transparency for effective AI deployment [5] Group 2: Sector-Specific Insights - The banking and finance sector leads in AI capability development, with 18% of organizations classified as leaders in AI implementation [5] - Retailers show the highest inclination to increase GenAI investments significantly at 42%, followed by utilities (30%), banking and finance (24%), and insurers (9%) [5] - Organizations are prioritizing AI governance and improving data quality and accessibility, both ranked at 42% [5]