One in four finance and technology professionals blames senior management for slow adoption of artificial intelligence (AI) and analytics, which is holding them back from progress in digital transformation.

A Censuswide survey of 500 financial and tech professionals for MHR Analytics found that resistance to new technologies among senior staff could mean companies being left behind.

Nearly a quarter said their company’s traditional reliance on manual spreadsheets for business functions was holding them back from taking advantage of widely available technology.

Bernard Marr, an author and AI adviser who wrote a recent report on how companies are tackling the shift from spreadsheets to AI advised firms, said that the most efficient data maturity journey would involve manageable steps rather than huge leaps.

“From better planning and decision making, to smoother operations and automated processes, data analytics fuels business improvements,” he commented. “Yet, for the average business, adopting advanced analytics techniques like AI is never going to be an overnight shift.”

Other barriers to advancing analytics highlighted by the MHR Analytics survey included a perceived lack of skills within organisations, siloed working practices and concerns about data quality, data protection and security.

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