Eighty-five per cent of UK businesses are planning to invest in artificial intelligence (AI) by 2020, according to Deloitte.
Deloitte research of over 51 UK companies, valued at a combined £229bn, found that over half of respondents plan to invest over £10m in AI over the next three years - with 30 per cent saying they will have invested £10m by the time 2017 draws to a close.
Paul Thompson, UK digital transformation leader at Deloitte, said: AI will have a profound impact on the future of work.
"Our view is that human and machine intelligence complement each other, and that AI should not simply be seen as a substitute.
"Humans working with AI will achieve better outcomes than AI alone, and UK businesses need to get this careful balance right."
Despite the signs of high investment, 22 per cent of organisations said they had not yet invested any money in AI, with only one third saying they expect to invest more than £1m in 2017.
Deloitte said these figures are an indication that organisations are choosing to pilot AI and test its effectiveness, rather than skip straight to large deployments.
Looking to the future, Deloitte said that 77 per cent of leaders expect AI to disrupt their industries, but only eight per cent expect AI to directly replace human activity in their businesses.
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