49% large Finnish companies mull to replace tasks with AI

About 49 per cent of the large Finnish companies are planning to replace some work tasks with Artificial Intelligence (AI), according to a survey conducted by OP Financial Group.

The results of OP's Corporate Pulse survey, however, showed that 26 per cent of the respondents disagreed with this, said an official press release on Tuesday.

Half of large Finnish companies report that artificial intelligence plays a critical role in the success of the company.

When utilising artificial intelligence, it is important for companies to ensure that its use does not include discriminatory practices against employees.

According to the survey, the most typical work tasks that can be replaced by artificial intelligence can be found in reporting, data processing, customer service and communication.

There are numerous examples of these application areas around the world and in Finland as well. For example, Amazon offers its customers better product recommendations using machine learning models, and Morgan Stanley utilises an AI assistant to leverage in-house data and research data.

"Artificial intelligence is changing our operating environment at an accelerating pace and the opportunities it brings to companies are very extensive. Half of the respondent companies reported that artificial intelligence will play a critical role in the future success of the company. This highlights the huge importance of artificial intelligence for companies", said Katja Keitaanniemi, Chief Executive Officer of OP Corporate Bank.

Opportunities provided by artificial intelligence will also have a major effect on the Finnish economy, in addition to companies.

A total of 37 per cent of the respondents of OP Corporate Pulse opined that Finland is currently an internationally attractive target for artificial intelligence projects.

"Putting Finland on the map as a good target country for artificial intelligence projects requires investment from companies in research and development, as well as the willingness to take action and lead the change. It is extremely important to make the most of the opportunities provided by artificial intelligence, so that Finnish companies will succeed in international competition", said Keitaanniemi.

The fair and responsible use of artificial intelligence is a highly topical theme in companies on a wide front. The topic may also raise concerns among employees.

A total of 100 Finnish companies with a turnover of at least 100 million euros responded to OP’s Corporate Pulse survey, which was conducted by Taloustutkimus Oy.

The survey was conducted by phone in April–May 2024.