New research by PwC suggests a shift in the belief that AI will replace staff among Irish senior executives, with many now optimistic about its positive impact on businesses in the next five years. However, concerns about cybersecurity risks and legal liabilities persist, prompting a call for the implementation of AI governance frameworks.
Fewer than half of senior executives in Ireland now believe that artificial intelligence (AI) will replace their staff, according to new research by PwC. The percentage has dropped from 70% last year to under 50% this year. This shift in viewpoint comes after government-backed research indicated that a third of Irish jobs could be at risk due to AI.
Despite the skepticism about AI replacing staff, 83% of Irish executives anticipate that AI will have a positive or transformative impact on their businesses within five years. However, only 26% could identify specific benefits from AI, and merely 7% have incorporated AI into their daily operations, unchanged from last year.
Generative AI tools like ChatGPT, Anthropic’s Claude, and Google Gemini are primarily used by Irish companies for cyber-defense (34%), IT development (22%), improving collaboration (17%), sales and marketing (12%), and enhancing supply chains (10%).
The research highlights significant concerns among Irish executives. Nine out of ten believe AI will increase cyber-security risks, while four out of five anticipate heightened legal liabilities, reputation risks, the spread of misinformation, and bias toward specific groups.
Though three-quarters of executives plan to implement AI governance structures, only 7% have done so. Most companies support the EU’s AI Act. Nearly three-quarters feel that generative AI will not enhance trust with shareholders in the next year.
Martin Duffy, head of Generative AI at PwC Ireland, emphasized the importance of establishing governance frameworks to realize AI’s value responsibly and securely, noting that good governance will soon become a legal requirement under the EU AI Act.
