The research, which is based on a survey of more than 300 UK executives, found that while 92% expect AI to change their industries, only 16% felt prepared for AI adoption.

More than one-third ( 36%) said they have established AI committees and 33% have appointed a dedicated leader for AI strategy, according to Qualtrics, while 38% are increasing investments with existing technology vendors to upgrade their AI features. 

Qualtrics said that ChatGPT was being used by 83% of businesses surveyed, and 81% were using Microsoft Copilot.

Assuming that AI improves experience tools, Qualtrics said that 58% of UK leaders expect it to lead to increased revenue and 53% expect it to cut costs. Separately, 48% anticipate higher overall efficiency from AI tools.

Improving the customer experience remains a significant or critical priority for 66% of UK executives, said Qualtrics, specifically for improving customer support ( 46%), helping create more personalised interactions ( 39%) and better understanding and empathising with customers ( 36%).

Isabelle Zdatny, head of thought leadership at the Qualtrics XM Institute, said: “AI presents a billion-dollar opportunity to transform customer experiences. However, without decisive leadership and the right support in implementing AI, organisations risk being left behind.

“By understanding how AI can make connections more human, and then empowering teams with training and appointing AI stewards, businesses can turn this moment of rapid technological change into long-term competitive advantage.”