Martyn Kendrick – Scotland director at Bank of Scotland Commercial Banking

More than half (52%) of Scotland’s businesses believe greater AI adoption will be a major driver of local economic growth.

Of the 61% of businesses already using AI, eight in ten (81%) have seen it increase their productivity, while 79% say it has improved their profitability. Firms are most commonly using off-the-shelf AI platforms to improve their efficiency (59%), analyse data and make better-informed decisions (31%) and automate some of their processes (31%).

Looking ahead, 39% of Scottish firms plan to invest more in AI in the next year, with more than a third (34%) of non-adopters planning to use it for the first time. Meanwhile one in five (20%) plan to create new AI-specific roles.

Firms said the biggest drivers of future AI investments are driving further, or new, increases in profitability (48%) and productivity (48%). Companies also said that understanding AI and its benefits (50%) and having inspiration from peers (15%) would help facilitate even more investment.

The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide.

Martyn Kendrick, Scotland director at Bank of Scotland Commercial Banking, said: “This data highlights the significant potential of AI to boost business performance and drive broader economic growth across Scotland.

“Scottish firms say they plan to invest more in the technology, and that they could go even further if they had a better understanding of exactly how it could benefit them and see it in action among their peers. This highlights the critical role that sharing knowledge and best practice will have in helping spread, and increase, the benefits AI offers.”