The state of Generative AI in Ireland.

Generative AI is a ground breaking technology, but its economic impact in Ireland depends on the speed and intensity of its responsible adoption. For those who might be new to it, generative AI is a technology capable of producing new content—be it text, images, video, audio, or more—from simple natural language prompts. It operates on the principle of analyzing vast amounts of data to identify patterns and, from these, it generates original content. Think of it as a highly advanced digital assistant that's always ready to offer fresh ideas or solutions to the questions you ask it.

As such, generative AI is a hugely exciting technology that has been adopted very quickly with 55% of people globally reported using GenAI at least once a week. A recent study has concluded that the adoption rate of generative AI has happened more quickly than both PCs and the internet. This is exciting but AI is not without risk and employers everywhere are starting to realise.

What's the state of generative AI in Ireland?

Trinity College Dublin's Business School and Microsoft Ireland recently completed a detailed survey of 400 senior managers from a variety of sectors across Ireland to gauge how well-prepared Irish organizations are AI with some exciting highlights mentioned:

• 49% of organisations are already using generative AI in some form.
• 47% of organisations believe the technology will enhance productivity.
• Those with a generative AI-first policy (company-wide approach) feel there are more benefits, such as productivity increases, from generative AI (71%) compared to firms that prohibit generative AI use.

However, a key takeaway by Trinity College Dublin’s Business School suggests Ireland is at a crossroads, and first mover advantage is now crucial to capitalise on its position as a global technology hub and drive competitiveness through AI innovation. This is particularly prevalent in the fields of technology, science, and media. However, it's also clear that 'shadow AI' is causing issues in Irish organizations and that may well limit Generative AIs progress.

A Shadow AI culture is emerging

A concerning insight from the report is the emergence of a 'shadow AI culture' within some Irish organizations. This refers to the use of publicly available generative AI tools by employees, often without the necessary content safety controls and data protection measures, knowledge of technology departments and indeed sometimes even in direct violation of Irish company policies.

This highlights a growing trend where employees, in their quest for efficiency and innovation, resort to available tools that might not align with organizational standards or regulations. AI implemented without proper governance is a major risk to businesses. There are a tremendous number of industry, national and international regulations which, if they are not followed, can result in significant fines and reputational damage to Irish organizations. Therefore, clear guidelines, guardrails and responsible AI training are essential components of any Irish organizations AI strategy.

Generative AI Frist Mover Advantage

On a more positive note, the Trinity College Dublin's Business School and Microsoft Ireland report highlights the significant advantages for organizations that have taken a proactive stance on generative AI adoption.

These "first movers" have reported substantial benefits, including productivity boosts and enhanced innovation capabilities including significant productivity gains. This underscores the importance of not only adopting AI technologies but doing so in a manner that is strategic and aligned with broader organizational goals.

What are the studies recommendations to Irish Businesses?

The study offers a number of recommendations for Irish organizations looking to derive sustainable value from their investments in generative AI including:

• The importance of addressing the skills gap - give employees the skills and training they need to succeed with AI (technical, change management, responsible AI, etc.)
• Advocating for a strategic approach to AI that encompasses technology, data, and expertise, along with a solid understanding of the business domain
• Effective change management practices.
• Train and educate decision-makers around the issues of data privacy and legal issues related to the use of generative AI.
• The need for a balance between transformative and incremental innovation, suggesting that while immediate benefits are crucial, a long-term visionary approach could redefine an organization's digital future.
• Adopting a visionary approach, and a deeper assessment of the benefits of AI to transform an organisation and shape their digital destiny is required to be very successful.

The Worthwhile Journey Ahead

In conclusion, while Irish organizations are still at the early stages in the generative AI evolution and the path to adopting generative AI comes with challenges, success is within reach. Generative AI is a truly ground breaking technology, but its economic impact depends on the speed and intensity of its adoption.

With thoughtful planning, strategic investment, and a strong focus on education and ethics, organizations in Ireland—and globally—can unlock the vast potential of this technology, gaining a competitive advantage and fostering meaningful innovation. That's a goal worth pursuing for Irish organizations and beyond.

End.

Source: Generative AI in Ireland 2024 - Trends and Insights

Author

Would you like Data Analytics, Artificial Intelligence, Machine Learning or Generative AI advice?

Then book a FREE 30 minute introductory call so my expert team and I can discuss your specific business needs today - click here.

‘The A to Z of Generative AI: A Guide to Leveraging AI for Business‘.

If you love digital technology and generative AI, then you will love my new books ‘The A-Z of Organizational Digital Transformation ‘?and ?‘The A to Z of Generative AI: A Guide to Leveraging AI for Business ‘.? My A-Z of Organizational Digital Transformation is now available on?audible https://ow.ly/YnGl50ReKTb .