Survey indicates enthusiasm for Al as an aid to growth

MORE than half of Westcountry business owners say they believe the adoption of artificial intelligence will be a “key growth driver” in the local economy, according to a new report.

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Fifty-three per cent of the firms questioned for the latest Lloyds' Business Barometer said AI had the potential to transform the South West's growth prospects.

Of those businesses in the region already using AI - half of those questioned - 87% said the technology had increased their productivity and 88% had seen an improvement in profitability.

The Business Barometer surveys 1,200 businesses monthly and is designed to provide early signals of UK economic trends, both regionally and nationwide.