How to unlock the potential of AI with responsible research and innovation

Last month, Google released a research report that was a call to action to ensure the gap between AI research and innovation doesn’t widen in the U.K. The impact of that widening gap? Missed opportunities for businesses and a boost to the economy.

This report brings to light a key point we strongly support and have been talking about in the industry and to clients. In fact, our collaboration with techUK last year underscored that GenAI alone could contribute up to £120 billion annually to the UK economy over the next decade. This immense potential has businesses racing to unlock its benefits in customer service, fraud detection and operational efficiency.

However, our own research showed a ‘confidence gap’ within U.K. organisations: 85% of business leaders believe GenAI will positively impact their company, yet only 30% of employees share this view. Google’s research also uncovered that some employees have never used GenAI tools in their jobs and AI adoption was being held back by a lack of training courses and having official workplace guidance.

Ultimately, the time to act is now. Leaders need to look at how to adopt AI and integrate its adoption into specific business objectives to drive that potential. To ensure true success, AI requires a balanced approach that prioritises responsible research and innovation.

Many businesses may ask what responsible implementation looks like? In our work with techUK we created five actionable insights businesses can apply when adopting AI.

1. Prioritising Data Quality: The effectiveness of AI is heavily dependent on the quality of the data it processes. Ensuring that data is accurate, complete, and clean is crucial to avoid inaccuracies and biases in AI outputs.

2. Continuous Appraisal and Adaptation: Businesses should regularly evaluate their AI adoption to ensure it delivers the desired value. This involves setting up robust measurement processes but also staying up to date with the latest advancements and capabilities.

3. Educate and Train Employees: Providing comprehensive training and continuous learning opportunities for employees is essential. This helps dispel misconceptions about AI and equips staff with the skills needed to use these tools responsibly and effectively.

4. Encourage Responsible Experimentation: Creating an environment that fosters creativity and experimentation with AI can lead to innovative solutions and greater employee engagement. However, this should be done within a framework of clear policies and safety guardrails.

5. Collaboration Across the Ecosystem: Businesses cannot drive the adoption of AI within the U.K. alone. Collaboration across the industry is needed, especially to address regulatory, security, and data quality within AI adoption. The UK Government also plays a crucial role in this journey by investing in digital infrastructure, promoting data accessibility, supporting talent, and fostering responsible deployment.

Ultimately, the need to bridge the gap between AI research and innovation is a top priority. The immense potential of AI presents a unique opportunity for businesses to enhance customer service, fraud detection, and operational efficiency, all of which can significantly to the economy. However, to unlock the full benefits of AI and drive long-term success, leaders must align AI with broader business objectives, proactively tackle the challenges and drive collaboration across the ecosystem.