New research suggests that UK organizations are ahead of EU competitors in AI implementation, with a key factor being confidence in regulatory compliance.
Almost a quarter of UK CEOs told AI company Daikatu there is an official roadmap for AI implementation over the next year. It’s twice the world average and almost five times the German average.
Also, 10 CEOs in France and a third of Germany said they canceled AI projects due to regulatory uncertainty, but only one in five CEOs said the same.
Florian Douetteau, CEO and co-founder of Dataiku, said the contrasting regulatory environment on both sides of the UK channel allows UK companies to leverage AI ‘Boom’.
“The market research in our report suggests that reduced regulatory uncertainty gives UK companies clarity of action. Even as AI evolves at an unforgiving pace, it will accelerate innovation and adoption,” Douetteau said.
“We’ve seen first-hand how, working with corporate customers, CEOs are confident in their compliance and governance control, they can move faster, be smarter and fully leverage the possibilities of AI.”
Hesitancy to AI regulations is a global issue, the study says, with eight 10 CEOs worried that EU AI law could delay organizations’ adoption.
The legislation aims to bring about a general regulatory and legal framework for AI, ensuring that the development and deployment of AI in the EU is implemented responsibly.
However, there is plenty of room for confusion and uncertainty, and the latest draft of the General AI Code of Practice has been published recently and may have been set for more changes before it comes into effect in May.
“EU AI law raises more questions than answers, and in the process we have seen companies within our jurisdiction become increasingly cautious about AI programs,” said Jacob Beswick, senior director of AI governance at Dataiku and former UK assistant director of AI adoption and regulation.
“Heavy EU regulations mean that there are more restrictions on what can be put into the market and what can be put into place than the UK, making the UK an attractive market for AI innovators.”
Companies are still conscious of AI governance
The CEO acknowledged that AI is an important competitive differentiator, but organizations often lack the governance, planning, and oversight needed to successfully execute projects.
While 10 CEOs worldwide say they are confident in their company’s AI governance framework, or their ability to set rules regarding data access and privacy, only one third of these explains they are extremely confident.
Overall, over a third of CEOs say AI projects have been delayed due to regulatory uncertainty, with 32% canceling or abandoning them altogether.
But Beswick said that regulatory considerations could slow down the implementation of AI, but people without stricter guidelines must ensure that they are creating AI products with risk awareness in mind, “as they can do it, so rather than simply doing so.”
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