A recent survey by the Barclays Business Prosperity Index states that British businesses invested an average of £236,000 in artificial intelligence (AI) over the past year. Large companies, with over 250 employees, spend an average of around £400,000 on AI and emerging technologies. Medium firms spent £225,500, while small companies invested £125,250. The survey went on to report that 68% of those approached, which included 1,000 decision-makers, have plans to increase their AI budgets next year. Matt Hammerstein, chief executive of Barclays UK corporate banking, said: “Our research suggests that AI is becoming a key tool to drive innovation, encourage investment and upskilling to lift productivity and build confidence in the UK as a global business hub.”

BFS Comment:

If you are considering taking on more AI technology within your business but finance for it is a problem then contact us. Either e-mail enquiries@bufinserv.co.uk or complete the enquiry form on our web ste www.bufinserv.co.uk and request a Free consultation to discuss your options.