Many business leaders are unprepared to confidently guide their organisations through the AI era, according to new research from General Assembly, the tech training and talent solutions firm.

In a survey of 393 vice-presidents and directors from UK and US businesses, 58% of executives admitted they had never attended an AI training event, or taken an AI course.

Overall, less than half (42%) reported being very confident in the use of AI tools without compromising company data, while more than a quarter (27%) said they are not very or not at all confident. 

Additionally, 39% said they don’t have the knowledge to make decisions when it comes to hiring vendors that use AI, although confidence in this aspect varies across departments and functions.

For example, although 79% of IT leaders feel equipped to evaluate AI vendors, only 26% of finance and accounting executives feel the same way.

A lack of knowledge is contributing to the problem, with just 16% of companies in the US, and 20% in the UK, regularly offering AI training, and over half of all firms (54%) not offering any training at all. 

Interestingly, 70% of UK executives said they felt confident in their AI knowledge to make decisions, compared to just 59% of those in the US, while UK-based leaders were more likely (53%) than their US counterparts (40%) to have undertaken AI training.

Gaps in AI training and confidence, if left unchecked, could impact companies’ security, privacy, and competitiveness, with General Assembly highlighting that it is vital leaders in both technical and non-technical roles now have AI literacy, to oversee vendor selection, integrate AI tools effectively, and safeguard company data.

Meanwhile, the survey also found that nearly half (46%) of executives reported their company lacks AI usage policies, and 14% admitted they hadn’t familiarised themselves with policies that do exist, with finance and accounting executives the most likely not to have taken the time to do so.

The data shows a striking disparity, as large companies with over 10,000 employees are much more likely to have such policies (81%), while only 26% of small businesses with under 100 employees have them.

The survey also shows that business leaders are recognising AI’s potential to disrupt the workforce, but aren’t convinced that their own jobs might be at stake. 

While only 26% of executives believe AI could replace their roles in the next decade, 79% think it’s likely to replace some of their employees’ jobs, with 16% saying AI could replace half of their workers.

Recommended reading

• AI Skills Gap Leaves Older Workers Behind
• Over Half of UK Businesses Don’t See AI Adoption as a Priority
• AI Skills Gap Puts Public Sector Projects in Jeopardy

“Company leaders need to upskill for the AI era, too,” said Daniele Grassi, CEO of General Assembly.

“Technical and non-technical leaders alike must understand the legal, privacy, and ethical implications of AI use. They need to know how to evaluate AI vendors, how to protect company data, and how to guide their teams on using AI in their work.

“Companies who don’t establish AI usage policies and upskill executives on AI face consequences ranging from data and privacy breaches to competitive disadvantage.”