UST Finds AI Strategies are Slowing due to Skills Gaps

Despite widespread adoption of AI technologies, many organisations are struggling with skills gaps and a shortage of talent to fully capitalise on the potential of AI.

A recent report by UST has highlighted the significance of AI frameworks in business, as enterprises struggle with the challenge of upskilling their workforce to embrace the technology. The findings reveal that 93% of large companies consider AI integral to their success, yet more than three-quarters are experiencing significant shortages in skilled employees.

As a result, UST finds that AI implementation is slowing down on account of uncertainty - preventing the technology from reaching its full potential in vital business contexts.

AI frameworks viewed as necessary for businesses

UST advises that businesses require strategic guidance to navigate the complex AI landscape, which is increasingly encumbered by intricate regulatory requirements and ethical dilemmas.

the technology's potential to transform critical business operations. Whilst the majority of those surveyed find that AI implementation aligns with their strategic business goals, only 5% currently report that there have been no significant changes in deployment. 

Regarding AI workforces, 80% of those surveyed by UST say that diversity is crucial or very important. However, 32% believe their AI team is lacking diversity, with 70% of those surveyed by UST finding that a lack of diversity within their AI workforce is already leading to biased outcomes. This approach can be catastrophic for businesses, as biased AI can lead to greater levels of mistrust both within the workplace and for customers. 

To mitigate this, AI frameworks are essential for businesses to make good on their strategic goals. This is particularly the case if they define clear ways for AI to be harnessed to help achieve overall business goals.

“Such a framework is essential as it serves as a roadmap for organisations to develop, deploy and manage AI solutions that drive real business value for the business and their customers,” Heather Dawe, Chief Data Scientist, UK and Responsible AI at UST, tells Technology Magazine.

A growing need for AI regulations

The report also highlights the complexity of regulatory challenges, with 91% of respondents acknowledging the need for a responsible AI framework. However, only 39% believe their current approach is effective. 

Regulation is paramount as, according to the report, a lack of strategy can lead to security concerns (40%), a shortage of in-house expertise (33%) and compliance and regulatory challenges (33%). 

Despite organisations recognising the importance of AI in a fast-changing business landscape, there remains the significant challenge of in-house expertise. In fact, 31% of respondents cannot currently upskill their own workforce.

“These findings show that we must accelerate efforts to develop and implement sound AI governance policies to create a future where AI systems fulfil their potential as powerful for the common good,” comments Adnan Masood, Chief Architect, AI & Machine Learning at UST.

Likewise, Heather suggests that businesses can bridge the skills gap by identifying the necessary skills required within a business and provide tailored training programmes. 

“At UST, we are leading the charge with our Gen AI training initiative, which is adaptable and customisable for our 29,000 employees. We cover everything from foundational AI concepts to cutting-edge applications, as well as offer hands-on-learning experience using industry-leading tools and platforms,” she states.

The initiative aims to train approximately 80% of UST's workforce in Gen AI, coinciding with the launch of AlphaAI, a consolidation of UST's AI offerings designed to enhance business agility and streamline operations. 

Krishna Sudheendra, CEO at UST, remarks on the potential of AI, saying: “AI is a groundbreaking technology already accelerating innovation across industry sectors, improving productivity, and redefining what is possible in unimaginable ways. This research comprehensively shows AI's myriad benefits and challenges for businesses.

“By shining a light on the dominant hurdles to effective AI integration, we hope to help enterprises identify the right tactics and facilitate greater adoption of AI.”

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