New flagship report shows 83% of businesses in both London and the South East report improved efficiency from AI adoption
The NatWest research highlights trust, transparency and human oversight as critical drivers of successful AI adoption.
Through the NatWest Accelerator, the bank will deliver 5,000 AI learning and adoption engagements over the next year across the UK
Businesses across London and the South East are already turning artificial intelligence into growth according to new research from NatWest, but trust could take it further.
In London, 83% of businesses using AI report greater efficiency and 81% report stronger innovation, while around seven in ten say AI is contributing to higher revenue and profitability.
In the South East, 83% report efficiency gains, 75% increased innovation and around two-thirds say AI is supporting stronger commercial performance.
The results reflect the strengths of a regional economy built on sectors such as financial services, professional services, technology, life sciences and other knowledge-intensive industries, where AI has the potential to improve productivity, enhance customer experiences and accelerate innovation.
However, the research shows the biggest opportunity is still ahead. While AI adoption is becoming increasingly widespread, just 6% of current business users nationally have reached the stage where AI is transforming how their organisation operates, highlighting significant untapped potential for future growth.
The report also suggests that technology alone will not determine which businesses succeed. Trust is increasingly seen as a competitive advantage for businesses, as public customers highlight demand for greater transparency and human accountability in the AI era. 81% of NatWest.
Retail customers surveyed say the ability to reach a real person when needed is the most important trust factor, while 77% value reliability, human oversight and transparency around data use.
The findings suggest that businesses that retain human judgement, communicate openly about the use of AI and prioritise customer confidence will be best placed to realise the technology's full potential.
Catherine van Weenen, Chair of the London and South East Board at NatWest, said:
"London and the South East are already seeing the benefits of AI, with businesses reporting stronger productivity, innovation and growth. For a region with strengths in sectors such as professional services, financial services and technology, the opportunity is significant.
"But the report also shows there is much more potential to unlock. While many businesses are experimenting with AI, relatively few have embedded it across their operations.
"Realising that opportunity will require people to remain at the heart of how AI is adopted. Trust matters. Businesses want the benefits of AI, but they also want human expertise, oversight and transparency. That's why NatWest is helping businesses build the skills, confidence and connections they need to turn AI's potential into long-term growth for London and the South East."
Through the NatWest Accelerator, the bank is helping businesses across London and the South East make the most of AI through practical training, expert support, access to finance and the power of its regional innovation network. That includes support through the NatWest
Accelerator, partnerships with universities including Oxford and Brighton, and a commitment to deliver 5,000 AI learning and adoption engagements over the next year.
The findings suggest the greatest benefits will come from organisations that combine the speed and efficiency of AI with the trust and personal relationships customers continue to value.
Key findings for London and the South East
- 83% of London businesses report increased efficiency from AI adoption.
- 81% of London businesses report increased innovation as a result of AI adoption.
- Around seven in ten London businesses report higher revenue and profitability linked to AI adoption.
- 83% of South East businesses report increased efficiency from AI adoption.
- 75% of South East businesses report increased innovation.
- Around two-thirds of South East businesses report higher revenue and profitability linked to AI adoption.
- Across the UK, 44% of businesses already use AI, with a further 41% planning to adopt it within five years.
- Just 6% of current AI users have reached the most advanced stage, where AI is transforming how their organisation operates.
- 81% of NatWest customers say the ability to reach a real person when needed is the most important trust factor.
- NatWest will deliver 5,000 AI learning and adoption engagements over the next 12 months to help businesses move from experimentation to impact.
