Accenture research finds three in five Irish execs will have fully scaled up Gen AI in the next 6-12 months

New research from Accenture in Ireland has shown that 73% of Irish executives say they will increase their spend on Generative AI (Gen AI) this year and 64% say they will have fully scaled up Gen AI, enterprise-wide, in the next 6-12 months.

Accenture’s latest Pulse of Change Index reveals that Irish executives are feeling optimistic about the future, with 80% of Irish organisations now expecting faster revenue growth versus three months ago (compared to 77% globally). In addition, 65% of Irish executives are either ‘confident’ or ‘extremely confident’ that they will achieve their expected return on investment from Gen AI spend this year, following a period of experimentation in 2023.

Encouragingly, responsible AI is a priority for all those surveyed, with Irish organisations at varying stages of designing and implementing data and AI principles. However, just 14% of organisations have progressed from designing or initiating the scaling up of a responsible data and AI model to fully integrating one into their enterprise.

Despite overall positive feeling around emerging technologies and their potential to support Irish businesses, the research indicates that there is also work to be done to improve understanding, adoption, and trust amongst users.

—  Three in five (59%) Irish executives say they have limited experience using Gen AI tools (41% globally).
—  82% of Irish executives believe that they need Gen AI training (76% globally).
—  82% of Irish executives said that their organisation needs to make significant adjustments to its reskilling strategy given the emergence of Gen AI (82% globally).

Further findings from Accenture’s latest Pulse of Change survey revealed:

Developing digital core (51%), e.g., cloud, data, AI, platforms, security and ESG-related initiatives (53%), are areas of investment which Irish executives will prioritise this year, alongside 49% who said they will prioritise their talent (e.g., attracting, retaining, skilling, employee experience).

69% of Irish executives expect the greatest productivity increase due to generative AI investment in 2024 to come from IT/technology, and 36% expect it to come from customer service.

The Pulse of Change research is made up of a quarterly global survey conducted online in native languages for over 2,800 C-Suite executives across a broad range of geographies and industries. As part of this, 100 Irish executives were surveyed. The data was collected between February and March 2024.

Denis Hannigan, Data & AI practice lead, Accenture in Ireland, commented: “While Irish organisations are at varying stages of generative AI adoption, one thing is clear: adopting the technology remains a priority investment, and an area where Irish companies continue to spend in order to meet their growth objectives. Encouragingly, our findings also show that Irish businesses are confident they’ll achieve their expected return on their investment.

“In our experience, which includes extensive sessions with clients at our Gen AI Studio in Dublin, Irish organisations are not yet seeing the full transformation potential or the challenges across digital infrastructure, skilling, and responsible scaling, which could impede the success of these investments. This is highlighted in the research findings, as businesses don’t appear to have sufficient plans in these areas.

“Ultimately, there is no one-size-fits-all approach, but experimenting and adopting early will lead to competitive advantage as the technology develops.”
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