Welsh businesses are already seeing significant benefits from artificial intelligence, according to new research from NatWest Cymru, with four in five firms using AI reporting improved efficiency.
The bank’s new AI Adoption Report found that among Welsh businesses already using AI, 80% report improved efficiency, 73% report increased innovation and 59% report revenue growth. The findings highlight the growing role AI is playing in helping businesses improve productivity and support growth across Wales.
Across the UK, 44% of businesses already use AI and a further 41% expect to adopt it within five years. However, only 6% of current users have reached the most advanced stage of adoption, where AI is fundamentally transforming how the business operates. The research also highlights a growing gap between larger and smaller firms, with businesses employing more than 100 people almost twice as likely to be using AI as smaller businesses.
The report suggests trust will play a critical role in determining how quickly AI adoption accelerates. Across the UK, customers remain positive about the potential of AI, but want reassurance around how it is used. Almost eight in ten (79%) say access to a real person remains important, while 76% want transparency about when AI is being used and 75% want a better understanding of how their data is handled.
Robert Begbie, CEO, Commercial & Institutional Banking at NatWest, said:
“AI has the potential to be a powerful driver of growth, but the businesses that succeed will be those that use it to deliver better customer outcomes while building trust through transparency and human accountability.
“There is a real risk of an AI adoption divide emerging, particularly for smaller businesses with less access to skills, investment and specialist expertise. As both a major adopter of AI and the UK’s leading business bank, NatWest has a role to play in helping more businesses turn AI’s potential into growth.”
Siwan Rees, Manager for NatWest Cymru Accelerator, said:
“The research shows businesses across Wales are already seeing real benefits from AI in improving efficiency, driving innovation and supporting growth.
“The opportunity now is to help more businesses move from experimentation to implementation. By building skills, confidence and access to support, we can help ensure businesses across Wales are well placed to benefit from the opportunities AI presents.”
To help businesses build AI capability, NatWest is expanding its support through a package of initiatives including enhanced AI training for relationship managers, 5,000 AI learning and adoption engagements through the NatWest Accelerator over the next 12 months, specialist support delivered with Google Cloud, and a new AI Adoption Programme in partnership with Lancaster University.
AI, robotics and the future of Welsh business
As part of the report launch, NatWest Cymru hosted a roundtable discussion earlier this week at its Cardiff Accelerator Hub bringing together business leaders, academics and industry organisations to explore how AI, robotics and automation can help drive productivity and growth across Wales.
Chaired by Jacqui Murray, Director of the High Value Manufacturing Catapult in South Wales, the discussion focused on innovation, skills and the practical steps Welsh businesses can take to adopt new technologies. Bringing together leaders from business, academia and industry, it explored how Wales can maximise the opportunities offered by emerging technologies.
The roundtable forms part of NatWest Cymru’s wider commitment to supporting innovation-led growth across Wales and helping businesses adopt new technologies with confidence. Insights from the discussion will help inform future activity through the NatWest Accelerator and wider support available to Welsh businesses.
Welsh business spotlight
Welsh technology company Academii is using artificial intelligence and virtual reality to transform workforce training.
Supported by the NatWest Accelerator, Academii has accessed coaching, expertise and business networks to help scale its growth. Its platform creates immersive and personalised learning experiences for frontline workers, adapting training in real time and helping organisations improve training outcomes, productivity and learner engagement.
The technology is currently being used by Scottish and Southern Electricity Networks (SSEN), allowing employees to practise complex operational scenarios in virtual environments before carrying them out on live infrastructure. The approach is helping build workforce skills, confidence and productivity while supporting safer working practices.
