logo
One in three employers believe AI will boost productivity, research finds

One in three employers believe AI will boost productivity, research finds

ITV News15-05-2025

One in three employers believe that artificial intelligence (AI) will increase productivity, according to research.
A survey of more than 1,000 employers found that around one in eight thought AI would give them a competitive edge and would lead to fewer staff.
One in 10 of respondents to the study by the conciliation service Acas said there would be no benefit.
Acas chief executive Niall Mackenzie said: 'Our survey shows optimism amongst some employers about the potential for AI to boost their productivity, decrease costs and increase knowledge.
'Used responsibly, AI has the potential to empower workers and support the delivery of different workplace tasks.
'Businesses should be proactive in having early discussions about AI with staff, trade unions, and other worker representatives to understand the potential implications and ensure its adoption is well-informed.
'A good clear policy will help businesses stay safe, transparent and reassure staff that they are valued.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

The Expense Management Revolution: Why 2025 is the Tipping Point: By Sergiy Fitsak
The Expense Management Revolution: Why 2025 is the Tipping Point: By Sergiy Fitsak

Finextra

timean hour ago

  • Finextra

The Expense Management Revolution: Why 2025 is the Tipping Point: By Sergiy Fitsak

The Expense Management Revolution: Why 2025 is the Tipping Point The corporate expense management landscape is experiencing a seismic shift. What was once a mundane back-office function dominated by spreadsheets and paper receipts has transformed into a strategic weapon for financial optimization. As we advance through 2025, organizations that fail to modernize their expense management systems risk falling behind competitors who are leveraging AI-powered automation and real-time analytics to drive unprecedented efficiency gains. The Market Reality: A $16 Billion Opportunity The global expense management software market is projected to reach $16.48 billion by 2032, growing at a compound annual growth rate of 10%. This explosive growth isn't driven by hype - it's fueled by measurable ROI. Companies implementing modern expense management systems report cost reductions of 30-50% in manual processing, while simultaneously improving compliance rates by up to 70%. But the real transformation isn't just about cost savings. It's about visibility, control, and predictive intelligence that enables CFOs to make strategic decisions rather than reactive ones. Beyond Automation: The AI Advantage While automation handles the mundane tasks of receipt capture and expense categorization, artificial intelligence is revolutionizing how organizations understand and control their spending patterns. AI-powered fraud detection systems are identifying suspicious transactions in real-time, reducing fraud-related losses by up to 50%. Meanwhile, predictive budgeting tools are helping finance teams forecast expenses with greater accuracy than traditional methods. The most sophisticated systems now offer intelligent budget scenario planning, providing "what-if" analyses that help executives navigate uncertain economic conditions. This shift from reactive reporting to proactive planning represents a fundamental evolution in how businesses approach financial management. The Security Imperative As expense management systems handle increasingly sensitive financial data, security has become paramount. Modern platforms are implementing biometric authentication, reducing security breaches by 60% while improving user experience. Blockchain technology is emerging as a game-changer for audit trails, providing immutable records that reduce audit costs by 25% while virtually eliminating the possibility of expense fraud. The rise of virtual cards represents another security evolution. These tokenized payment methods reduce fraud risks while providing unprecedented control over employee spending. Finance teams can now set real-time limits, restrict merchant categories, and automatically reconcile transactions, all without compromising operational efficiency. The Integration Challenge One of the most significant pain points for organizations is the siloed nature of their financial systems. Modern expense management platforms are addressing this through seamless multi-platform integration, connecting with ERP systems, accounting software, and travel management platforms through sophisticated APIs and middleware solutions. This integration capability reduces data entry errors while providing a unified view of organizational spending. The result is not just operational efficiency, but strategic insight that enables better vendor negotiations, more accurate forecasting, and improved budget allocation. Real-Time Visibility: The New Standard The days of month-end expense reports are numbered. Today's executives demand real-time spend analytics that provide instant insights into budget performance and cost control. Cloud-based dashboards now offer live visibility into spending patterns, enabling better budget control and reducing overspending before it impacts financial performance. This real-time capability extends to mobile-first expense management, where employees can capture receipts, submit expenses, and receive approvals instantly. The result is faster reimbursements, improved employee satisfaction, and more accurate financial reporting. The Compliance Evolution Regulatory compliance in expense management has evolved from a checkbox exercise to a strategic advantage. Modern systems use rule-based automation to enforce policies in real-time, automatically flagging violations and ensuring adherence to complex regulatory requirements. This approach not only reduces compliance risks but also frees finance teams to focus on strategic initiatives rather than administrative oversight. The Road Ahead The changes shown above are just beginning. Organizations that embrace these technologies now will establish a competitive advantage that compounds over time. The question isn't whether to modernize but how quickly you can implement systems that turn expense management from a necessary cost center into a strategic asset. For executives looking to navigate this transformation successfully, understanding the full spectrum of available technologies and implementation strategies is crucial. The decisions made today will determine whether your organization leads the expense management revolution or struggles to catch up.

Did ChatGPT get the spending review right? Treasury minister gives his verdict
Did ChatGPT get the spending review right? Treasury minister gives his verdict

Sky News

time2 hours ago

  • Sky News

Did ChatGPT get the spending review right? Treasury minister gives his verdict

The chief secretary to the Treasury has called the Sky News-Chat GPT spending review projection "pretty good" and scored it 70%. Darren Jones compared the real spending review, delivered by Rachel Reeves on Wednesday, and the Sky News AI (artificial intelligence) projection last week. Sky News took the Treasury's spring statement, past spending reviews, the 'main estimates' from the Treasury website, and the Institute for Fiscal Studies' projections, and put them into ChatGPT, asking it to calculate the winners and losers in the spending review. This was done 10 days ahead of the review - before several departments had agreed their budgets with the Treasury - on the basis of projections based on those public documents. It also comes amid a big debate kicked off by Sky News about the level of error of AI. The Sky News-AI projection correctly put defence and health as the biggest winners, the Foreign Office as the biggest loser, and identified many departments would lose out in real terms overall. It suggested the education budget would be smaller than it turned out, but correctly highlighted the challenges for departments like the Home Office and environment. Watch what happened with Sky's AI-generated spending review 1:31 Reviewing the exercise, the author of the real spending review told Sky News that this pioneering use of AI was "pretty, pretty good". He added: "I could be out of a job next time in 2027, which to be honest, it's not a bad idea given the process I've just had to go through." The Treasury made a number of accounting changes to so-called "mega projects" which AI could not have anticipated, and changed some of the numbers. 3:43 Asked to give it a score, Mr Jones replied: "I'm going to give it 70%." The spending review includes AI as a tool to save money in various government processes.

Airlines reduce baggage loss by using new tech, report shows
Airlines reduce baggage loss by using new tech, report shows

South Wales Argus

time4 hours ago

  • South Wales Argus

Airlines reduce baggage loss by using new tech, report shows

Aviation technology company Sita said 33.4 million bags were mishandled in 2024, compared with 33.8 million during the previous year. Given the 8.2% increase in passenger numbers, the rate of bags lost fell to 6.3 per 1,000 passengers, down from 6.9 in 2023. This is a 67% drop since 2007. Sita said airports and airlines are handling baggage with 'more precision' by using real-time tracking, AI-powered analytics and self-service systems. The report stated that these advancements are 'no longer experimental, they are becoming standard and they are clearly having an effect'. Sita chief executive David Lavorel said: 'We've seen a radical shift with automation and the widespread use of real-time tracking. 'Passengers now expect their baggage experience to be as easy and transparent as using a rideshare or delivery app. 'It's no longer just about moving bags, it's about delivering a smooth, connected journey. 'Airlines are ready to tap into technology that improves the passenger experience while keeping costs down and being simple to roll out. 'Together with our partners, we're reimagining baggage handling to give passengers full visibility and control from departure to arrival, giving them peace of mind and making travel simpler and better.' Despite the improvement, lost bags cost the aviation industry an estimated five billion US dollars (£4.2 billion) last year from courier returns, customer service, claims handling and lost productivity. Delays remained the most common baggage issue last year, accounting for 74% of mishandling incidents. Of the 33.4 million mishandled bags, some 66% were 'resolved' within 48 hours, the report added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store