More than two thirds of Northern Ireland business chiefs have concerns over the potential ethical challenges of using artificial intelligence.
But two thirds said that understanding and implementing Gen AI is a “top investment priority”.
That’s according to the latest KPMG CEO Outlook Survey of business bosses here.
Looking towards grow, some 90% expect their workforces to increase over the next three years.
Against this backdrop a majority of 87% of business chiefs in Northern Ireland are clear on how Gen AI will benefit their organisation and create a competitive advantage.
“This year’s KPMG CEO Outlook Survey reveals a relatively buoyant mood among Northern Ireland’s leaders, with prospects for growth in the coming years strong,” Johnny Hanna, partner-in-charge of KPMG in Northern Ireland, said.
“With an appetite and understanding of emerging technologies such as Gen AI also apparent, chief executives have proved they are able to adapt to the changing environment they face with ease.
“These attributes, when combined with the unique offering of dual market to both EU and GB markets under the Windsor Framework and the potential to reduce corporation tax on a par with the Republic, build a compelling case. They set the scene for a future of prosperity and provide the conditions for the Northern Ireland economy to make good on our chief executives’ positive forecasts
Commenting on the survey findings, KPMG in Northern Ireland AI director Alan Lavery, said: “Northern Ireland chief executives have been quick to grasp the benefits of Gen AI and are making it a key business priority.
“That bodes well for the future of the Northern Ireland economy as the benefits which the technology can bring are significant. However, the report also uncovered a number of concerns around the adoption of the technology which will need guidance to navigate in the coming years.
“When it comes to adapting the workforce, it’s pleasing to see that 50% of CEOs in Northern Ireland are investing in upskilling, a higher figure than the 41% reported globally. This shows the importance with which leaders here place on Gen AI as a an embedded part of their business in the future.”