Based on a recent study of over 700 C-Suite level executives globally, BearingPoint has recognised that the UK Media & Entertainment sector shows a cautious but evolving approach to AI adoption, with a balance between skepticism and experimentation. Currently, 60% of organisations are either AI Skeptics or Cautious, while 40% identify as AI Enthusiasts or Experimenters. Encouragingly, 40% of respondents are directly involved in AI-related decision-making, reflecting a higher engagement level than in some other sectors.
UK Media and Entertainment C-Suite's Position and Attitude in Organisation towards AI Transformation
AI adoption is progressing steadily, with 60% of companies actively in the process of adopting AI technologies and 40% just beginning to explore AI initiatives. The most advanced organisations are prioritising AI initiatives that focus on increasing sales and enhancing customer experience. However, the Media & Entertainment sector recognises the need to balance improved customer intimacy and growth with the potential risks to consumer sentiment associated with data privacy (80%), and the ethical use of AI (60%).
Meanwhile, only 20% of respondents state they are fully prepared in terms of data availability and quality which is a cornerstone of any Generative AI initiative. This concern when combined with execution risks due to the talent gap for skilled personnel (60%) and IT integration challenges (50%) reflect a need for further readiness and strategic planning.
Given these implementation concerns, despite the potential benefits, only 10% of companies believe AI will have a transformational impact over the next 5-10 years indicating a cautious outlook on AI's future potential in the sector.
Governance and strategic clarity are additional areas of concern. Moreover, 50% of companies are still determining the best approach to governance and decision-making for AI-driven initiatives. Although 70% of organisations have a dedicated change management team, only 10% have a comprehensive strategy in place for AI adoption.
Overall, while the sector is moving forward with AI adoption, there remains a significant need for comprehensive governance, overcoming ethical and data security challenges, mitigation of implementation risks as well as a step change improvement in data quality and availability to realise AI’s full potential.
Please note all data is rounded to the nearest whole number