New research from Alteryx, called “Defining the Enterprise of the Future,” is based on a series of questions posed to 2,800 global IT decision-makers. The research shows the pivotal role AI innovation and regulation play in shaping the future of enterprises. 

A substantial 63% of UK business leaders expressed their intent to increase investments in advanced tech, and eight in ten said AI is already impacting their organisational capabilities.

AI’s influence permeates all sectors and business functions, says the report, drawing unique ethical considerations. Data privacy (45%), transparency (38%), and data governance (40%) are flagged as significant concerns, leading to a shift in the perception of regulation. A notable 88% of UK business leaders advocate for sector-specific regulations and standards for AI.

“Regulation will play a key role in the successful implementation of AI and will be just as much of a priority as innovation is for leaders,” said Jason Janicke, senior vice president EMEA at Alteryx.

Nearly 87% believe that such policies would aid responsible AI implementation, while 44% expressed concerns about potential legal and ethical consequences in the absence of an ethical AI framework.

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Despite these concerns, AI continues to fundamentally reshape the skill sets required for the future of enterprises. Nearly one third (32%) see the increasing volume and variety of data as a major threat.

Employee profiles are also shifting, according to the report. Nearly three quarters (74%) of business leaders value multi-skilled employees over those specialised in a single area. 

In addition to hard skills like AI and ML, financial analysis, and data analysis, there is a rising demand for soft skills such as digital literacy, team leadership, and communication. Notably, 61% also believe that creativity is the top skill humans will provide in a world shaped by AI.