Although 93 % of companies recognize that artificial intelligence (AI) will be crucial for their operations within the next five years, 14 % of respondents admit not to completely understand their benefits and 44 % say that implementing an AI project represents a considerable challenge. Thus it follows from the latest “AI in the company 2024” of UST.
The study also highlights that more than 90 % of large companies ensure that their initiatives are aligned with their strategic business goals. Proof of this is that the budget for artificial intelligence in companies is increasing: 89 % of the companies surveyed consider that increasing investment in this technology is essential to stay competitive in the global market. However, currently, only 5 % of companies dedicate more than half of their technological budget to AI, but this percentage will grow up to 18 % in the next three years.
When implementing AI technological solutions, companies face challenges associated with safety, regulations and lack of qualified personnel. Precisely in this regard, 76 % of large companies warn that they lack qualified personnel to implement and manage these solutions effectively. Specifically, 47 % of the companies indicated the need for data science experts, 43 % mentioned the lack of knowledge in data analysis and 40 % highlighted the need to improve problems in problem solving.
“The talent scarcity causes companies to support, more and more, in external companies to undertake their projects, but more incentives are needed,” says José Salamanca, general director of UST in Spain & Latam. “It is necessary to promote the development of new technologies through tax incentives and subsidies; increase cooperation between private companies, educational institutions and the public sector; and invest in education Stem (science, technology, engineering and mathematics) from basic and higher levels to help reduce the skills gap in the near future, ”adds Juan Fontán, general director of UST in Spain & Latam.
AI in the Spanish company
By putting the magnifying glass in our country, the report indicates that Spanish companies have a vision of the future regarding the potential of AI, especially in the areas of predictive ethics and analytics. However, two great challenges persist: the shortage of qualified workers and the lack of robust governance frames.
93 % of companies see crucial artificial intelligence for their businesses, but 14 % admit not to understand their benefits
One of the most prominent findings in Spain is the emphasis on predictive analytics. 41 % of Spanish respondents consider crucial predictive analytics to mitigate risks and predict failures. This is superior to other countries surveyed, which suggests that Spanish companies prioritize the reduction of uncertainties and the maintenance of operational resilience through predictive knowledge promoted by AI. In fact, 58 % of companies identify knowledge of data as vital to develop commercial strategies.
Another distinctive feature is that Spanish companies are particularly aware of the social responsibilities that AI entails. The survey reveals that 91 % of Spanish organizations agree that having an ethical framework for AI is vital, but only 29 % feel that their existing frameworks are really effective. In addition, in Spain, 53 % of companies are adopting AI to improve efficiency and productivity, which, in turn, helps reduce the consumption of resources and operational waste.
It is also striking that 92 % of Spanish companies indicate that they need external guidance to implement AI effectively, through consulting services, external suppliers or agreements with educational institutions.
Barriers and opportunities
Faced with optimism around the adoption of AI, concerns about security (42 %), the shortage of internal experience (38 %) and regulatory compliance (28 %) are the main barriers to Spanish companies. However, these barriers also represent opportunities for growth and continuous improvement.
The UST report underlines the importance of addressing these challenges proactively to make the most of the AI potential. Companies that overcome these obstacles will be better positioned to lead in an increasingly competitive and technologically advanced market.
