- New flagship report shows 91% of South West businesses report improved efficiency from AI adoption
- Trust and human expertise remain critical to building confidence in AI-enabled services, according to NatWest research.
- Through the NatWest Accelerator, the bank will deliver 5,000 AI learning and adoption engagements over the next year across the UK
Businesses across the South West are already turning artificial intelligence into growth according to new research from NatWest, but trust could take it further.
The findings, published in NatWest's flagship AI Adoption Report, show the South West is benefiting from AI adoption, with businesses particularly highlighting improvements in efficiency and innovation.
Across the region, 91% of businesses using AI report increased efficiency, while 73% report greater innovation, making productivity the standout benefit of adoption.
The findings reflect the strengths of a regional economy built on innovative SMEs, advanced engineering, technology, clean tech, life sciences, professional services and a growing ecosystem of entrepreneurs and scale-ups. AI has the potential to help businesses work more efficiently, bring new products and services to market faster, and strengthen their competitiveness.
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.
Faye Long, Chair of the South West Board at NatWest, said:
"Businesses across the South West are already seeing AI deliver real results, helping them work more efficiently, innovate faster and create more capacity for growth.
"For a region that's home to world-leading strengths in areas such as advanced engineering, technology, clean tech and life sciences, the opportunity is significant. But the biggest prize still lies ahead. While many businesses are experimenting with AI, relatively few have embedded it across their operations.
"That's why we're helping businesses move beyond experimentation and towards impact. Through the NatWest Accelerator, we're providing practical support, expert guidance and access to networks that can help businesses adopt AI with confidence and unlock long-term growth."
Through the NatWest Accelerator, NatWest is helping businesses across the South West 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 Brighton and Oxford, and a commitment to deliver 5,000 AI learning and adoption engagements over the next year, including in the South West.
Key findings for the South West
- 91% of South West businesses report increased efficiency from AI adoption.
- 73% of South West businesses report increased innovation.
- 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 nationally 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.
