Last year workers using artificial intelligence data were three times more likely to have had a promotion and pay raise compared with workers dragging their feet on AI adoption.
What does this mean for business leaders looking to harness the power of AI and how to best support their team to maximise investment in this technology and deliver growth?
The starting point is to ensure that whatever you build with AI rests on firm foundations. Businesses must be ready for AI before they can use it. That means understanding their data assets; this includes high-value and sensitive data, the quality of this, and who has access to and control over it.
It is not simply about ensuring that the AI applications and tools are clean and good quality – which is a prerequisite for building value.
Building the right foundations for AI adoption and readiness
It’s also imperative to put in place human guardrails to ensure AI doesn’t do more harm than good. You don’t want AI making autonomous decisions or accessing data without appropriate controls or things could go very badly wrong.
Being clear about the specific results you want and the new ways of working you envisage – across people, processes and technology – is essential to ensuring the best investments are made.
To keep control and identify valuable use cases, organisations need to appoint key individuals to be responsible for the systems and data. It’s a technology transformation that can’t simply be a job for the IT director.
Choosing the right AI strategy for your business
Should you build your own internal AI structures, which may give you more control, or rely on existing proprietary platforms? The answer depends on your business’ circumstances; there is no one-size-fits-all solution.
With guardrails in place, organisations can encourage innovation and experimentation while remaining cautious. Providers’ business models and pricing continue to evolve as the industry seeks profitability amid massive investments in data centres, servers and chip technology.
We are seeing many organisations experimenting with AI. Setting clear goals from the outset is the best way of helping you find the right route ahead
Setting clear goals to maximise AI return on investment
To support businesses looking to harness the opportunity of AI, S&W is helping them take a considered, planned approach to achieve an effective return on investment in AI.
Businesses aiming high need clear goals, and they must be explicit about them and share them with stakeholders.
Graeme Miller, S&W’s managing partner for Scotland, says: “We are seeing many organisations experimenting with AI. Just like other kinds of investments in your business, setting clear goals from the outset is the best way of helping you find the right route ahead.”
S&W has provided proactive business and tax advice to SMEs, family businesses, and entrepreneurs for over 25 years.
With extensive knowledge and previous experience as a business owner, Miller guides entrepreneurial founders and business owners through the lifecycle, from start-up to exit and beyond.
“Success is built on trust. When clients contact us, they seek valued advice on a range of financial issues they have to deal with. It’s the expert opinion and knowledge of the adviser which builds long-term relationships.”
S&W supporting businesses through growth and transformation
With Scottish offices in Edinburgh, Stirling and Kirkcaldy, S&W brings local support and world-class expertise, working with businesses across industries to transform operations, enhance efficiency and empower better decisions.
From AI to audits, S&W helps individuals and organisations with complex needs, offering comprehensive services across tax, accounting, consultancy, corporate finance, and business outsourcing. Discover how we can help you across every stage of business and every season of life.
FAQs
Q: How can businesses prepare for AI adoption?
A: AI readiness starts with strong data foundations, clear ownership, quality controls and defined business objectives.
Q: Why are AI governance and human oversight important?
A: AI guardrails, data controls and human accountability help businesses manage risk while encouraging responsible innovation.
Q: Should businesses build or buy AI solutions?
A: The right AI strategy depends on each organisation’s data, objectives, resources and need for control.
Q: How can businesses maximise ROI from AI investment?
A: AI investment should be tied to clear business objectives, measurable outcomes and new ways of working across people, processes and technology.
Q: How is S&W supporting Scottish businesses with AI and growth?
A: S&W combines local Scottish expertise with tax, accounting, consultancy, corporate finance and outsourcing services to support business growth and transformation.
S&W is a proud sponsor of The Sunday Times Scotland Fast 50. The Sunday Times Scotland Fast 50 was created this year to celebrate 50 privately owned, Scotland-based companies achieving exceptional growth at scale and speed. Start your conversation today with Graeme Miller at swgroup.com
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