A recent survey highlights a troubling trend among UK businesses: a potential revenue loss averaging 25% due to the underutilisation of artificial intelligence (AI) technology. Conducted by research firm Vanson Bourne on behalf of Clari, this survey comprised 150 UK firms, revealing significant gaps between the adoption of AI tools and optimal revenue generation.
According to the findings, the revenue leak in question represents billions of pounds across various sectors. Alarmingly, around 31% of respondents reported that their organisations might be annually losing 41% or more of their revenue. In a dramatic reflection of the potential impact, nearly half of those surveyed estimated they could be forfeiting upwards of GBP £40 million each year.
Despite acknowledging the importance of AI in mitigating these losses, actual implementation remains a challenge. Presently, 45% of respondents reported actively using AI tools, while an additional 54% intend to adopt these technologies within the next year. Yet, a staggering 62% admitted they still rely on outdated methods, such as spreadsheets, for collecting and analysing crucial revenue data.
Kathleen Hartigan, Group VP International Revenue at Clari, commented on the survey’s findings, stating, “We were particularly interested in how revenue operations (RevOps) teams are using AI.” RevOps is an evolving framework that aims to unify functions traditionally segregated across sales, marketing, customer service, and support. While nearly half of the surveyed organisations manage a RevOps team, only 15% reported lacking dedicated resources for this vital function.
The understanding that revenue leakages hinder business growth is nearly universal among the respondents. They cited numerous adverse effects, such as sluggish or negative revenue growth (22%), budget cuts (18%), and stagnation in innovation initiatives (15%). Notably, a significant advantage of AI tools identified was their ability to facilitate more reliable sales forecasting, driving 36% of respondents to allocate investments toward these technologies within the year.
Hartigan elaborated on the utility of AI, saying, “A big benefit of using AI is that you can spot where in the pipeline (the revenue process) things are going wrong. Without that information, how do you begin to put things right?”
The survey also uncovered several barriers impeding the creation of effective revenue pipelines. For instance, 29% of respondents pointed to poor programmes as a primary challenge, while 21% expressed uncertainty about where within the pipeline prospects were falling off, leaving them unable to formulate corrective measures. Issues related to inaccurate forecasts and pipeline details—reported by 30% of respondents—compounded the difficulty in closing deals.
Despite these hurdles, the overwhelming consensus (99%) among respondents affirmed the benefits of leveraging AI technologies. Advantages highlighted included enhanced forecasting accuracy (20%), improved decision-making processes (17%), quicker revenue generation timelines (17%), and reduced operational costs (16%).
The survey’s results underscore a growing imperative for UK businesses to adopt sophisticated technologies such as AI to refine their revenue operations. While many organisations have initiated AI tool integration, they must strive to bridge the existing gap between their current strategies and the potential efficiencies AI can deliver.
In a competitive market where every percentage point in revenue counts, the time to act is now. Companies that fail to adapt and fully utilise AI technology risk not only losing potential revenue but also falling behind in innovation and market leadership. Optimising revenue processes with AI is not just a matter of operational efficiency; it is critical for sustaining growth and ensuring long-term success in the digital economy.
