Half Of Businesses Have No Plans To Use AI

The BCC’s new Digital Revolution Challenge has held its first meeting to discuss ground-breaking research on how businesses are using Artificial Intelligence (AI). 

The survey, by the BCC’s Insight Unit – of more than 700 firms, mostly SMEs, found that: 

• Almost half of all firms (48%) have no plans to use AI technology 
• Customer facing businesses (B2C) are even less likely to use AI, with 58% stating they have no plans to use it 
• One in four respondents (26%) think AI is going to lead to fewer jobs in their sector, with more B2B firms (29%) predicting a negative impact 

Alongside the 48% that have no plans to use AI, the survey found a further 22% were not currently using it but planned to in the future.  

Businesses were also asked what types of AI they are currently using, with chatbots, such as ChatGPT, being the most popular application (18% of all respondents). Other technologies cited included:  

• Machine learning data analysis (6%)
• Speech recognition (6%)        
• Virtual agents for customer service (3%) 
• Robotic process automation (3%)   
• Natural language generation (3%) 
• Deep learning or neural networks (1%)  

The data also showed that companies with more than 50 employees were more likely to be currently investigating the use of AI in their operations than smaller ones, with 24% using chatbots, and only 37% stating they had no plans to use it at all.  

Why firms are, or are not, using AI 

Of the respondents who are currently using AI, common uses cited included coding, data analysis, language translation, content creation, and as a sounding board for ideas. 

By contrast, of the respondents who have no plans to use cited the following barriers: lack of relevance, investment cost, reliability, lack of understanding, and risks around scams or privacy. 

The research also found that 36% of businesses thought it was still too early to predict the impact of AI on jobs, while just one in 8 firms (12%) thought it would lead to an overall net increase in jobs in their sector.  

Responding to the implications of the data, Priya Guha, Chair of the BCC’s Digital Revolution Challenge, said: 

“With AI being considered so central to boosting the UK’s productivity this research on current levels of business engagement is an eye opener.  

“It is certainly a concern that almost half of firms say they do not plan to use AI either now or in the future.  

“But when we consider the economic conditions that businesses have been grappling with since the pandemic, it is no surprise that 51% of firms with fewer than 50 employees aren’t planning to use AI against 37% of larger businesses. 

“The BCC’s Digital Revolution Challenge is clear that the benefits to business from using AI are many. It will lead to efficiency gains, improved decision-making, better customer experiences, enhanced risk management and game-changing innovations.  

“It is essential for competitiveness in the modern business landscape, so we must make sure that every UK company is involved in this journey.  

“Our task now is to pull together a set of clear and pragmatic recommendations, for both Government and UK companies, to make this happen. 

“We have a position of responsibility here, and we must use our influence to improve awareness of the benefits of AI.    

“Improving clarity and certainty amongst businesses on AI will drive confidence to use it effectively. As it stands, it is alarming that a sizeable number of firms think it is irrelevant.” 

We are happy to share with you our new Consumer Psychology Training which will take place on 27th October 2023 in a face-to-face format in Sofia Bulgaria. 

During this half-day training course, you will gain a unique perspective into the buyer-seller dynamics and master practical hacks as well as sophisticated tools to influence consumer behaviour. Change the game by studying the psychological aspects of decision-making, effortlessly develop a thriving customer-oriented ecosystem and move your business to the next level!

This training will be led by our lead marketing expert Lazar Dzamic, a creative strategist and regular speaker at global and regional conferences on topics of digital marketing and brand storytelling. Through working with some of the biggest local and regional clients, Lazar has gained years of practical experience. Now you have the opportunity to learn from his creative, yet very hands on, practical approach.

If you’re interested in getting a better understanding of the customer’s mindset and decision-making process, please email us or fill in our application form to join the training.

Our email: bg_pwcacademy@pwc.com 

Application form here.

More information about the training here. 

On the 26th of September the British Bulgarian Business Association (BBBA) , in collaboration with Deloitte Bulgaria, the French-Bulgarian Chamber of Commerce and Industry and Confindustria Bulgaria, was delighted to host an informative seminar on the topic of “New Tax Regulations and Their Impact on Business”, at the Unicredit Bulbank International Center. 

Following the seminar, we were pleased to provide an opportunity for networking, accompanied by a relaxing glass of wine. 

We were pleased to welcome our special guest – Ludmila Petkova, Head of the Tax Policy Directorate at the Ministry of Finance, accompanied by experts in her team. In her keynote she stressed on the importance of collaboration between government and business, in order to implement changes in tax and legislation. 

Our seminar was dedicated on addressing imminent changes in Bulgarian legislation that align with EU directives, and we explored the following key topics:

• Introduction of Pillar II initiative in Bulgaria (in line with EU Directive 2022/2523)
• Shell Companies Directive (ATAD3)
• SAF-T introduction and VAT in the Digital Age

Our esteemed speakers, including Georgi Simeonov, Partner in Charge at Deloitte Tax, and Alexander Cherinko, Partner at Deloitte Tax, Vasil Lenkov and Tsvetelina Kemalova shared their expertise and knowledge on these critical topics related to taxation and compliance in Bulgaria. We were pleased to facilitate an engaging and informative discussion that served the interests of our members and the broader business community.

We are delighted to share that we signed a memorandum for cooperation with the International Business Network – BNI Bulgaria. Officializing this long-lasting partnership hereby firmly states the desire and commitment towards supporting our members and stimulating the Bulgarian economy based on principles of business ethics. 

Some of the areas of collaboration cover business development, bilateral relations between Bulgaria and the UK in the fields of trade, business integrity, education etc. and improving the business climate in Bulgaria by supporting the Rule of Law and following ethical business guidelines.

Мore information about BNI Bulgaria here.

We are proud and excited to be recognized with Best RPS Score award among the Accor hotels in Eastern Europe on the Accor Partner Days in Budapest on 6 Sep. Novotel Sofia is recognized for its impeccable service and for delivering fantastic experience to customers.

This is the most objective evaluation of our work and efforts and we want to dedicate it to all our partners and friends.  

We want to thank them for their trust and to promise that we will keep doing our best to make them feel like at home in Novotel Sofia.

Special thanks to the whole team of Novotel Sofia because without them this achievement wouldn’t be possible.

He was the captain of a baseball team. He managed a large part of the Eastern and Central European business of Xerox and Avon Cosmetics. While his professional path is on the rise, he was introduced to mentoring and found inspiration in supporting others to be successful managers and become better as leaders and humans.

Vladimir Borachev, MBA, PCC replaced his very successful corporate career with the profession of a coach. He is accredited by the International Coaching Federation. Currently. Vladimir is among the most successful Bulgarians in this field. Working as a coach gives him freedom and brings him immense satisfaction.

Vladimir has planted 1,300 trees. He travels the world. Enjoys many hobbies – mountaineering, gardening, photography, cars, culinary tourism. He is looking after a cat.

Vladimir Borachev is the author of the book “Journey for Leaders” and is a lecturer in the EMBA program at the American University in Bulgaria.

What does it take to be sustainable? Hear Vladimir’s personal story on October 10 at TEDxVitosha: COUNTDOWN ’23. 

Get your ticket here.

On 19 September we had the pleasure to host our first Meet the Members event after the summer months  in the wonderful atmosphere of Grand Hotel Millennium.

In accordance to our tradition, new members presented themselves in front of the BBBA community. Guests also had the chance hear about new developments from members who have been with us for a while. After the short presentations, our old and new members and friends had the chance to enjoy a productive business networking. We also had the pleasure to give a warm welcome to the new Deputy Ambassador Liz Chapman. 

We would like to express our thanks to all of our guests for joining us and to our gracious host Grand Hotel Millennium and sponsor Atlanea! 

As it was announced at the event, if you book your slot at the upcoming PwC Academy training on Consumer Psychology by 2 October, you will get a 10% discount. Please, add the code BBBA10 as a comment in your registration form or get directly in touch with the PwC Team if you have questions.  

If you would like to join the BBBA Trade Committee please get in touch with our team. 

You may find photos from the event HERE.

Below is the list of companies that got presented: 

• Grand Hotel Millennium, Grand Hotel Sofia, King’s Valley Medical Hotel and Spa 
• Advance Valuations
• Amplify Analytix
• Atlanea
• Bullcharge
• Droxic
• Figure Finance
• Hope and Homes
• ITA Group 
• Protiviti
• PwC Academy 
• Sciant
• Smartity
• TechLex

After the unquestionable success of the workshop, which we organized jointly with Komarevski, Dimitrov & Partners Law Firm in the beginning of this summer, two more extended editions will follow – this time in the city of Sofia. In the summer of 2011, we will present two new editions of the book, one in Varna and the other in Sofia. We will be holding two more events in Varna and Plovdiv.

Finding the right people is a key challenge for businesses in all sectors. However, retaining them and ensuring that employers invest in their employees’ skills is even more challenging.

Our workshop “Retaining, engaging and developing teams: legal options, innovative practices and workable solutions” aims to provide practical advice and first-hand expertise to HR managers seeking to meet the new demands of the labor market.

Book your place for 20.10.2023 (Friday) in Varna or for 10.11.2023 (Friday) in Plovdiv.

During the event, you will learn more about:

• The most proven financial and time-effective practices for training people
• Optimizing HR strategy with employer data
• Discovering and managing team member drivers and motivators
• The latest requirements for legally providing benefits and bonuses to and using them as a retention mechanism
• The legal options available to employers to protect their investment in training and career development

The workshop is suitable for managers and experts in human capital development and management, people managers, business owners, and others whose activities are related to people management.

The training will run from 9:30 am to 5:00 pm and attendance is limited to 40 participants.

390 BGN (excluding VAT)

For a second participant from the same company, a 10% discount on the participation fee is provided.

EARLY BIRD (Registration until 25 September) – 320 BGN (excluding VAT).

Speakers:

Maria Stoeva, Director of Assert International Bulgaria and Sales and Business Development Director of Manpower Bulgaria

Galina Stoilova, Business Psychology Consultant at Assert International Bulgaria

Atty. Mileslava Bogdanova, Specialist in Employment Law and Senior Associate at KDP (Komarevski Dimitrov & Partners)

More information about the workshop, speakers, and online registration form can be found here.

Reacting to the latest inflation data from the ONS, David Bharier, Head of Research at the British Chambers of Commerce, said:  

“Today’s CPI rate of 6.7%, while proving stubborn, shows that inflation is continuing to gradually ease off. Producer price inflation (PPI) fell by 2.3%. This should give the Bank of England pause for thought with the interest rate decision tomorrow. 

 “Inflation remains the top concern for businesses across our surveys, and firms will be concerned that fuel prices are the largest contributor to the CPI rate today. But the rising interest rate has also been a growing problem for many over the last year.

“Recent research by the BCC’s Insight Unit found that 46% of companies said current interest rates are having a negative impact, as costs for borrowing and mortgages go up. Smaller firms and those in the consumer facing sector are disproportionately impacted.

“The BCC’s latest economic forecast expects growth for the next two years will remain subdued. Businesses will now be worried that any further rises in the interest rate could could diminish consumer demand and make investment even harder.” 

PwC’s Academy’s New Managers Programme starts on 9 October 2023. The programme aims to provide anyone who is new to the management role with the most essential skills needed when leading people. The course is designed and delivered by Mr. Tim Kemp – a Learning and Development specialist with over 30 years of practical experience. Over the years Tim has been the reactive force behind a range of learning simulations, podcasts, and web seminars all over the world. 

The programme consists of 3 modules covering topics like the critical role and abilities of the manager, the impact we have on managing others, and the link between individual performance and business contribution. 

The training will be held in 6 live-online sessions:

Module 1: Focus on Self – the critical role and abilities of the manager

Date: 09 and 13 October 2023

Time: 10:00-13:30 EET

Module 2: Focus on Others – the impact we have on managing others

Date: 06-07 November 2023

Time: 10:00-13:30 EET

Module 3: Focus on Business – from effectiveness to shaping trends in people management

Date:  28-29 November 2023

Time: 10:00-13:30 EET

Do not miss the chance to give your management career a head start by learning from a leading expert and network with colleagues from different companies and industries! 

Register here

More information here.