Marvin OnumonuPublic sector organisations are lagging behind private companies in adopting artificial intelligence (AI), according to research from Access PaySuite.
A survey carried out by Censuswide for Access PaySuite found 58% of public sector bodies are investing in AI, but only 10% have significant strategies in place.
In comparison, 83% of businesses in the private sector are investing in AI, with 45% already running comprehensive strategies.
One in three (33%) public sector respondents said their organisation is planning to invest in AI, but only 14% expect to do so in the next year.
However, 72% of finance and IT leaders in the public sector said they were interested in exploring AI to improve services.
Nearly a quarter of public sector organisations said they did not feel prepared to implement and manage AI.
Giulio Montemagno, managing director at Access PaySuite, said: “While AI adoption is currently lower in the public sector compared to private organisations, our research shows that appetite is real and growing.
“Early programmes, like our own, are already delivering encouraging results, and we’re extremely excited about the transformational potential ahead.
“The opportunity is clear: with the right strategies, AI can help teams work smarter, freeing them to focus on delivering better public services.”
In light of this, Access PaySuite has launched new AI-powered software, Income Management Evo.
The software uses generative AI to help public sector teams retrieve data and insights in plain language, connect payment and income data, and use live dashboards and predictive alerts.
Montemagno added: “The first insights from our early adopter program have shown encouraging signs, with feedback showing that Income Management Evo is already helping authorities see time savings of up to 110 FTE days per year, translating into tens of thousands of pounds in efficiency gains.
“Income Management Evo is the first in a series of AI-powered solutions that we’ll be rolling out over the next few years, in an iterative process that intends to transform public sector payment systems and financial mapping.
“Our solutions will integrate cutting-edge AI into payment systems, helping public sector teams automate the everyday, unlock insights and deliver better outcomes for the citizens they serve.”
