Contents - EY European AI Barometer 2024 | EY

From challenges to opportunities: How EY and AI work hand in hand

Introduction

1. The AI revolution

2. Adoption

3. Benefits

4. Impact on workforce

5. Capability building

6. Future of AI technology

7. Use cases

Study design

Contacts

From challenges to opportunities: How EY and AI work hand in hand

Introduction

In a world shaped by relentless technological progress, companies that fail to evolve could disappear from the map. Artificial intelligence (AI) is sweeping through the business landscape with fierce intensity – reshaping industries and economies at an unprecedented pace. As AI advances to the forefront of technological innovation, some brace themselves for the inevitable challenges a step change of this magnitude will bring, while others fervently seek to unlock the immense opportunities it promises.

Irrespective of AI technology’s many facets and manifestations, one thing is certain: it will fundamentally redefine the way we work, the way we live and the way we interact. Businesses need to give careful consideration to some bedrock questions: should they embrace AI without reservation or proceed with caution? What pitfalls and paybacks can they expect? How will AI impact the world of work? And what regulatory frameworks do companies need to observe and how?

Nobody can lay claim to having all the answers in this rapidly evolving new reality. But since the inception of the AI revolution, our EY teams have stepped up to the challenge and have been helping clients chart their course for successful transformation, pinpointing where they can best invest their resources to extract value from AI for their respective businesses – and creating a better working world for all stakeholders in the process.

This report seeks to share our experience with, and shed light on, the multifaceted impact of AI in its many manifestations, examining how managers and non-executive employees view the challenges and opportunities ahead. We deep-dive into different sectors to understand the latest approaches to harnessing the power of AI, with a particular focus on Europe, while maintaining a global perspective. Our overarching goal is to unlock AI’s potential to create positive impact in our economies and our communities, advocating for a responsible, people-centered approach that prioritizes value creation for everybody.