2 days ago
Only 5% of business leaders have skills to harness AI
Only 5% of business leaders say they have skills to fully harness potential of AI and other digital innovation, according to new research by the Irish Management Institute.
While 42% of leaders admitted to lacking knowledge and expertise to strengthen cyber controls.
The 'IMI Leadership Barometer' surveyed 459 senior leaders in Ireland from private, public and semi-state organisations.
The study found that these capabilities will be need to be addressed as a matter of priority, as cyber threats accelerate and evolve in the AI era.
One in three business leaders who answered the survey say they are confident in leading their organisation through a period of elevated economic volatility and disruption.
8% said they're not confident about their capacity to successfully navigate an environment of elevated economic and geopolitical volatility.
The study also found that 45% of decision makers reported gaps in financial leadership capabilities, including managing investments and maximising growth.
Commenting on the release of the IMI Barometer, Shane O'Sullivan, CEO of the IMI described the Leadership Barometer as providing "a timely insight into the capabilities of Irish business leaders to respond to these challenges and seize new opportunities for growth."
"Despite the complexity of this environment, it's clear from our findings that many leaders are navigating this evolving landscape with resilience and a measured degree of confidence," said Mr O'Sullivan.
However he acknowleged the weaknesses in current leadership capabilities in the findings including areas such as AI and financial skills,
"Addressing these gaps will be crucial to ensuring leaders are equipped with the key capabilities to navigate the change ahead and drive the future growth and competitiveness of business in Ireland," he said
