MARKET TRENDS

The Rise of AI in Flanders: Key Findings from the 2023 AI Barometer Report

AI’s Impact on Competitiveness with Efficiency, Cost Reduction, and Quality Improvement.

27/05/2024

Courtesy: Dall-e 3

Artificial Intelligence (AI) is rapidly evolving, and Flemish companies are making significant progress in adopting this transformative technology. The latest AI Barometer report, commissioned by the Department of Economy, Science, and Innovation (EWI) of the Flemish government and conducted by ECOOM-STORE at Ghent University, provides a comprehensive overview of the adoption and use of AI among Flemish businesses in 2023. This blog article explores into the key findings of the report and what they mean for the future of AI in the region.

Key Highlights from the AI Barometer Report

The 2023 AI Barometer report reveals some notable trends and developments in AI adoption among Flemish companies. Here are the key highlights that underscore the growing significance of AI in the business landscape.

1. Significant Growth in AI Adoption

In 2023, 32.1% of Flemish companies reported using at least one AI technology, up from 25.5% in 2022 (image 01). This substantial increase reflects the growing awareness and integration capabilities driven by advancements in AI technologies like ChatGPT. The surge in AI adoption is not just a numerical growth but indicates a deeper penetration of AI across various business functions.

Image 01: AI Adoption in Flanders Soars: From 25.5% in 2022 to 32.1% in 2023

2. Leading AI Technologies

Among the AI technologies, Natural Language Generation (NLG) has emerged as the most widely adopted, with a 14% adoption rate (image 02). This technology, which includes the generation of written or spoken text, is followed closely by Text Analysis (13.7%) and Process Automation (13.5%). These technologies are being increasingly integrated into business processes to enhance efficiency and productivity.

Image 02: Natural Language Generation: The Leading AI Tool with 14% Adoption

3. Persistent Challenges

Despite the impressive adoption rates, many companies face significant hurdles:

  • Lack of Relevant Skills: A considerable number of companies struggle with a shortage of internal expertise in AI.
  • Identification of Applications: Envisioning potential applications of AI within their operations remains a challenge for many businesses.

Detailed Insights

Beyond the key highlights, the AI Barometer report offers a deeper understanding of the challenges and opportunities associated with AI adoption. The following detailed insights shed light on the specific areas where companies are both excelling and encountering obstacles.

1. Barriers to Adoption

The report identifies several key barriers to AI adoption:

  • Perceived Limited Utility: Many companies still perceive AI as having limited applicability to their operations.
  • Understanding AI’s Potential: There is a widespread difficulty in understanding how AI can be practically applied within different business contexts.
  • Skill Gaps: The lack of necessary skills is a significant impediment, highlighting the need for more targeted AI training and education programs.

2. Sector-specific Adoption

The adoption rates vary significantly across different sectors. The ICT and financial sectors lead the way with high adoption rates, particularly in applications such as customer service and data analysis. These sectors are leveraging AI to enhance their service offerings and improve operational efficiencies.

3. Impact on Competitiveness

Companies that have embraced AI report notable improvements in their competitive edge. Key benefits include:

  • Cost Reduction: AI technologies have enabled businesses to reduce costs significantly.
  • Enhanced Quality: The quality of products and services has seen a marked improvement due to AI integration.
  • Operational Efficiency: Overall operational efficiency has improved, giving companies a stronger market position.

Final Thoughts

The AI Barometer report clearly indicates that AI is becoming an integral part of the business ecosystem in Flanders. The growth in adoption rates and the positive impact on competitiveness underscore the transformative potential of AI. However, to fully realize this potential, businesses need to address the persistent challenges related to skills and application identification.

For businesses looking to stay ahead in this digital era, investing in AI technology and building internal capabilities are crucial steps. The insights from the AI Barometer report provide a valuable guide for companies aiming to leverage AI for their business success.

Get in touch with us to explore how our AI solutions can drive your business forward. Get inspired by our use cases: Upskilling 2,000+ Managers in Digital Technologies & Fostering a Culture of AI-driven Innovation in the Financial Sector (Image 03).

Image 03: Effixis Use Cases: Upskilling 2,000+ Managers in Digital Technologies and Promoting AI Innovation in Finance.

Let’s work together to navigate the complexities of AI and unlock new opportunities for growth and innovation.

Authors

Mariély Dias

Marketing Specialist

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