Many firms are facing challenges in working towards their artificial intelligence (AI) goals due to skills shortages, as revealed by research from Expereo and IDC.
A survey of CIOs on their technology priorities for the upcoming year showed that 37% of UK firms are struggling to retain AI, automation, and data talent, which is impeding their AI plans.
The ongoing talent shortages are forcing firms to compete for the limited talent available, both in retaining existing talent and recruiting new talent.
Expereo CEO Ben Elms emphasized the importance for CIOs to keep up with market innovations and customer expectations, while also adopting AI technology responsibly and effectively.
Despite the growing interest in AI technology, businesses are finding it challenging to find the necessary skills and expertise to harness its full potential.
A lack of AI skills is not only prevalent internally but also extends to external technology partners, with 29% of CIOs noting that their partners are not equipped to support AI implementation.
The government has taken steps to address the AI skills gap, such as funding initiatives for AI talent development and implementing an AI-focused visa scheme.
Another obstacle faced by firms is navigating the impact of AI on business operations, particularly in the context of remote working and employee usage of AI tools.
Concerns around governance and ethics in AI development and use can be alleviated through proper training and skills development, according to the research.
Despite the challenges, CIOs are eager to embrace AI initiatives, with a majority expressing readiness for the AI revolution.
