Rise of the robo-advisor: UK leaders overwhelmingly turning to AI for business mentorship in the absence of human mentors

The research is timely as leaders flock to London for SxSW London this week, and was based on a poll of 300 business leaders in the UK. It also revealed that a significant 90% of business leaders believe there is a mentorship gap in the UK, driving swathes to turn to AI for support. However, despite business leaders' increasing reliance on GenAI tools, the vast majority lack training, and the study uncovers an enormous appetite for greater guidance on leveraging the technology.

The research shows that business leaders are now using AI more frequently than a human for mentorship. In fact, just 16% turn to a person for business advice on a daily basis, which came in at 10% less than those who use GenAI. Reflecting on the human element, a third (32%) said they had only received human mentorship once or twice in total, and a further 26% said they had only received such mentorship a handful of times (three or more).

Beyond the interpersonal implications of these findings, AI is also having an overwhelmingly positive impact on business success. According to respondents, 59% said AI has improved operations, and 35% said it has already helped their business to grow. Looking forward, 62% still see AI as a worthwhile investment, and a significant 82% said it will help them to further accelerate business growth.

Despite the widespread popularity of GenAI use amongst business leaders, a vast majority are still not confident they know how to use it most effectively. Nearly half (47%) of UK business leaders admit that they have taught themselves how to use GenAI but are not confident in their skills.

There is also a clear opportunity to improve AI training in the UK: 70% revealed they have had no training on how to use GenAI tools (all their experience is self-taught), and a significant 89% would like more training to get the most out of AI.

The widespread adoption of GenAI, and the assumption that everyone should already know how to use it, can be a source of embarrassment too; in fact, 38% of people said they would feel embarrassed to admit they don't know how to use it.

While 62% of business leaders use GenAI once a day or more, some barriers to adoption remain. Interestingly, one in four (23%) of respondents cited moral objections, and one in five (20%) said 'environmental concerns' were their biggest concerns for adoption.

'Security concerns' came out as the biggest barrier to GenAI adoption, as cited by 56% of respondents. This is perhaps unsurprising, considering ongoing reports of hallucinations, data harvesting and inaccuracies.

One third of respondents also identified 'costs' as their biggest challenge, whereas 27% said that lack of understanding still holds them back.

Simon Haighton-Williams, CEO at The Adaptavist Group commented: "Evidently, leaders are turning to AI en masse to fill crucial functions, particularly where human mentorship is lacking. But many are doing so without full confidence in their knowledge or without the support to be sure they are leveraging AI effectively.