Within the UK, a quarter of businesses said they were already using generative AI - and a further 50% said they intended to invest in AI within two years. 

Significantly for the islands, collaboration is identified as fundamental to business success in the coming 10 years. 83% of business leaders agree that collaboration beyond national borders through international partnerships and networks is key. 

Ms Ayotte said: “As international centres for financial services and commerce, Jersey, Guernsey and the Isle of Man all place a strategic importance on developing cutting edge digital economies. As such, the findings of this latest global report should resonate clearly, particularly given the emphasis business leaders place on cross-border collaboration – an area where the islands all excel. 

“Our customers are increasingly positive about artificial intelligence and the numbers embracing the opportunities it creates looks set to accelerate very quickly.” 

Barry O’Byrne, CEO, Global Commercial Banking at HSBC, added: “The fourth industrial revolution will transform businesses as new technology and ever-increasing levels of automation are integrated into the workplace. What our Digital Horizons report makes clear is that successful businesses will not see a diminished role for human skillsets.  

“To remain competitive, businesses will need to harness new technology to empower teams to perform better, more efficiently and more creatively. This agility will require new ways of thinking and working, and different capabilities.” 

Pictured (top): Aline Ayotte.