AI 'could rocket UK firms' revenues to $18 billion by 2021'

Automation will create more than 17,000 jobs in UK businesses, according to IDC

AI will increase global business revenues by $1.1 trillion (860 billion) in the next four years, while UK companies will see their revenues increase by 900% up to $18 billion (14 billion), as they realise the benefits artificial intelligence tools have on the entire organisation.

These are the findings of a study by IDC (commissioned by Salesforce), which highlighted that AI will end up creating more than 17,200 new roles by 2021, rather than reducing job availability as feared by some. The research firm also explained up to two million jobs worldwide loosely related to AI will be generated and although they won't be specifically created to help implement AI tech, they will crossover into the sector.

Advertisement - Article continues below

Salesforce explained rather than automation replacing human employees as is commonly thought, it will actually provide bigger opportunities, boosting workforce productivity by allowing businesses to automate simple tasks, while humans can concentrate on innovation.

Some of the applications contributing towards increased revenues include predictive sales lead scoring and service chatbots to personalise marketing campaigns, making experiences more relevant, that will result in greater sales.

"AI is impacting all sectors of the economy and every business. For the CRM marketthe fastest-growing category in enterprise softwarethe impact of AI will be profound, ushering in new levels of productivity for employees and empowering companies to drive even better experiences for their customers," said Keith Block, vice chairman, president and COO, Salesforce.

Advertisement
Advertisement - Article continues below

"For companies embracing AI, it's critical that they create new workforce development programs to ensure employees are prepared for this next wave of innovation."

Featured Resources

Successful digital transformations are future ready - now

Research findings identify key ingredients to complete your transformation journey

Download now

Cyber security for accountants

3 ways to protect yourself and your clients online

Download now

The future of database administrators in the era of the autonomous database

Autonomous databases are here. So who needs database administrators anymore?

Download now

The IT expert’s guide to AI and content management

Your guide to the biggest opportunities for IT teams when it comes to AI and content management

Download now
Advertisement

Most Popular

Visit/mobile/mobile-phones/355239/microsofts-patent-design-reveals-a-mobile-device-with-a-third-screen
Mobile Phones

Microsoft patents a mobile device with a third screen

6 Apr 2020
Visit/security/cyber-security/355271/microsoft-gobbles-up-corpcom-domain-to-keep-it-from-hackers
cyber security

Microsoft gobbles up corp.com domain to keep it from hackers

8 Apr 2020
Visit/software/video-conferencing/355257/taiwan-first-country-to-ban-zoom-amid-security-concerns
video conferencing

Taiwan becomes first country to ban Zoom amid security concerns

8 Apr 2020