Yorkshire firms think AI can boost local economic growth, finds new Lloyds survey
Most Yorkshire firms believe AI can drive regional economic growth, a new survey has suggested.
The Lloyds’ Business Barometer interviewed 1,200 companies across the country, including 82 in Yorkshire.
Of those questioned, 58 per cent of Yorkshire businesses believe greater AI adoption will be a major driver of local economic growth.
Of the 56 per cent of the region’s businesses currently using the technology, 85 per cent say it has increased their productivity, and the same proportion say it has improved their profitability.
Martyn Kendrick, regional director for Yorkshire at Lloyds, said: "Yorkshire’s businesses are viewing AI as a key driver of local economic growth – a perspective likely shaped by their own positive experiences. Among companies already using AI, the vast majority report gains in both productivity and profitability.
“To broaden these benefits, it will be essential to foster the sharing of knowledge and practical insights. This collaborative approach will help more firms begin using AI effectively and unlock its full potential."