Tag: Adoption

Ireland’s Startups Lead Europe in AI Adoption

Ireland’s startup ecosystem is setting the pace for AI adoption in Europe, according to a new AWS report titled “Unlocking Ireland’s AI Potential 2025”.  The report, based on survey data of 1,000 Irish businesses, highlights how agile Irish startups are rapidly integrating artificial intelligence (AI) into their core operations, with 36% of Irish startups embedding AI at the core of their business model, higher than the 29% European average.

Irish startups are also seeing measurable gains from this adoption, with 94% of Irish businesses reporting a significant increase in revenue thanks to adopting AI, with an average 36% revenue increase directly linked to their use of AI.

“The data in this report aligns closely with our observations in the field – Irish startups are demonstrating a strong commitment to integrating emerging technologies,” said Niamh Gallagher, AWS Country Lead for Ireland. “Many of these companies clearly recognise that AI is becoming increasingly important for maintaining competitiveness, attracting investment, and pursuing global expansion opportunities.”

During the AWS Gen AI Loft Dublin tour, Niamh Gallagher met with Niamh Smyth, Minister for the Department of Enterprise, Trade and Employment with special responsibility for Trade Promotion, Artificial Intelligence and Digital Transformation. The Minister was presented the “Unlocking Ireland’s AI Potential 2025” report and taken through the key findings. During the event, leading Irish startup founders shared how AI is already transforming their industries.

Minister Smyth, praising the role of startups in Ireland’s AI leadership, said “These findings make it clear that startups are central to Ireland’s digital future,” she said. “They’re leveraging AI not only to grow, but to lead the transformation of entire industries—from safety tech to genomics and climate solutions.”

“This report validates our approach to keeping children safe online,” said Rena Maycock, founder of Chirp, a safety-focused tech company. “Using GenAI to enhance our datasets has enabled us to detect and block harmful communications and offer real-time protection for children and families—something that simply wouldn’t be possible with conventional tech alone.”

“At Jentic, we’re building AI-native infrastructure for the agent era, enabling AI agents to dynamically discover, load, and execute the exact tools they need, precisely when they need them,” said Dorothy Creaven, Chief Operating Officer of Jentic. “This report reinforces what we’re seeing every day: Ireland’s startups are not just adopting AI, they’re pushing the boundaries of how AI is applied at scale.”

“The report reflects what we’re seeing on the ground,” added Sean Mullaney, Founder & CEO of Seapoint. “AI isn’t just enhancing finance tools—it’s fundamentally changing how startups manage money, make strategic decisions, and scale. It’s enabling us to build the intelligent financial home we always wished we had.”

Across Ireland, businesses are integrating AI at an accelerating pace, with 45% now using AI, marking a 32% growth in just one year, up from 34% last year. This growth is outpacing the European average, where, overall, 42% of businesses are now consistently using AI at a growth rate of 27%.

The report also found that Irish businesses reported a 25% year-on-year increase in AI investment, exceeding the European average of 22%.

Wide, but shallow adoption: The two-tier economy

Many businesses, particularly large enterprises, are not leveraging the most advanced uses of AI. This risks a two-tier AI economy between startups and large enterprises. The research identifies three distinct stages of AI adoption in Ireland, outlining the gap between businesses that are merely experimenting with AI and those that are fully embedding it into their operations for transformative impact.

Stage 1: First steps

  • Two thirds (66%) of Irish businesses are in the early stages of AI adoption, primarily using publicly available chatbots or basic AI tools for routine tasks (e.g., chatbots, scheduling assistants)
  • Large enterprises are slow to progress beyond basic AI applications with 83% remaining at the most basic stage of AI integration

Stage 2: Transformation

  • The divide between startups and large enterprises becomes pronounced at this stage. Startups continue to set the standard on AI integration—25% are currently at this stage and exploring how they can integrate AI more deeply within their organisations, more than triple that of large businesses (7%).

Stage 3: Strategic Innovation

  • A small proportion of businesses are at this stage and are using AI not just to improve efficiencies, but also as a fundamental pillar of their strategy. 26% of startups have reached stage 3, integrating AI across operations, compared to only 8% of large businesses.
  • (17%) of businesses at this stage are building custom AI systems or apps tailored to their specific needs, and additionally, 17% of businesses report full AI integration, where AI is seamlessly embedded across operations.

“This report highlights the remarkable pace of innovation in today’s startup ecosystem,” said Tricia Troth, General Manager, Startups UK & Ireland at AWS. “We’re seeing startups move beyond AI experimentation to implement practical, strategic applications. The data shows how founders are increasingly focused on integrating AI into their long-term growth and scaling strategies.”

Read the report in full HERE

Irish Firms Embrace Responsible AI: Adoption of Guidelines Doubles in 12 Months

In the last 12 months, there has been a notable jump in the number of financial services firms in Ireland implementing guidelines to ensure the responsible use of Artificial Intelligence (AI). New research reveals that twice as many compliance experts as last year now report that their firm has adopted such measures.

This is according to the results of a new survey by Ireland’s professional body for compliance professionals, the Compliance Institute, which polled 144 compliance experts working primarily in Irish financial services organisations nationwide.

The survey, which examined trends around AI, found that this year, 16pc of compliance professionals said that an AI governance framework (an infrastructure with clear guidelines and standards to ensure that AI technologies are used responsibly) was in place in their organisation – up from 7pc in 2024

However, the Compliance Institute survey also found that there has been a fall in the take-up of AI tools in the financial services sector over the last year, with the number of compliance professionals saying their organisation is actively trialling and/ or using AI tools falling from almost four in ten (37pc) in 2024 to just over one in four (26pc) in 2025. This suggests a more cautious approach towards the use of AI within organisations.

Commenting on the survey findings, Michael Kavanagh, CEO of the Compliance Institute said:

“AI is a rapidly evolving technology that has advanced at a pace few anticipated. While there are many benefits, including its ability to detect illnesses and diseases as well as weather patterns and extreme storms, its fast-growing capabilities and increasingly widespread use have raised concerns – such as privacy and misinformation issues, the potential of the technology to lead to job displacement, or even the risk of AI-altered images and videos disrupting the democratic process. While many believe AI should be embraced for the benefits it delivers, it is important too that AI is used in a safe and transparent way, and that the use and adoption of the technology is overseen so that harmful outcomes are prevented.

The increase in the number of financial services firms that have put guidelines in place to ensure AI is used responsibly in their organisation shows that there is a strong awareness in the sector of the risks of AI and a determination to ensure the technology is used responsibly.”

Groundbreaking Legislation

The Compliance Institute survey also found that three times as many compliance experts as last year are aware of the groundbreaking piece of legislation that aims to tackle the risks of AI and ensure AI is used safely and transparently – the EU Artificial Intelligence Act.

Almost one in four (23pc) compliance professionals are familiar with the legislation today compared to only 7pc in 2024. However overall, awareness of the rules is still low with just over two-thirds (67pc) of compliance experts having either limited or no knowledge of the new legislation. The poll found there has been a substantial decrease in the number of experts with limited knowledge of the new rules – down from 58pc in 2024 to 29pc in 2023. However, almost three in ten (28pc) said they were not familiar with the legislation.

Mr Kavanagh added:

“It is important that there is strong regulation of AI and this is why the new EU AI Act is so important. This regulation should ensure that AI systems are designed, developed and deployed in an ethical and trustworthy manner and that the fundamental rights, health and safety of the individual are protected while promoting responsible innovation.

While our survey shows there’s been a notable increase in familiarity with the AI Act over the last year, it is worrying that only one in four (23pc) are familiar with the legislation and that almost three in ten are not. The reasons for this lack of familiarity could simply because many compliance experts work in smaller organisations or in a specialist area that doesn’t deal with AI.  All the same, given that the AI Act entered into force on August 1, 2024 and will for the most part be fully applicable across the EU on August 2, 2026, it is important that all compliance experts get up to speed with these new rules. Non-compliance with the Act’s provisions could result in hefty fines ranging from €7.5m to €35m depending on the severity of the infringement and the company’s size.”

Other headline findings to emerge from the Compliance Institute survey include:

  • Almost seven in ten (67pc) compliance professionals say their organisation is not adopting AI tech “so far” – an increase on the 60pc who said this was the case when a similar survey was conducted in 2024.
  • While numbers were small, more than twice as many compliance professionals as last year believe that their organisation will not be using AI tools in the near future (7pc versus 3pc).
  • The percentage of organisations actively developing AI frameworks has fallen from 24pc in 2024 to 17pc in 2025.
  • The number of organisations planning to develop AI frameworks remains stable (40pc in 2025 versus 39pc in 2024).
  • The percentage of organisations that have no plans to implement AI governance frameworks has largely remained the same over the last year (27pc in 2025 versus 30pc in 2024).

Mr Kavanagh concluded:

“The findings of our survey reflect a growing awareness and action on the governance of AI across the financial services sector, though progress is still in its early stages for many organisations.”

Dell Technologies Accelerates AI Innovation and Strengthens Cybersecurity Strategies for Microsoft Customers

Dell Technologies has announced new AI innovations to help Dell and Microsoft customers simplify AI adoption, accelerate deployment, and manage demanding workloads in multicloud environments. These advancements also aim to strengthen cybersecurity and data protection for joint customers.

Accelerating AI adoption and performance

Dell’s new AI offerings include the expansion of the Dell AI Factory with solutions developed in collaboration with Microsoft. One notable addition is the Dell APEX file storage for Microsoft Azure, a Dell managed service designed for superior AI workload performance, scalability and data services. This service promises easier deployment and management making it ideal for multicloud environments.

Additionally, Dell has introduced several services to aid organisations in adopting AI and creating custom AI solutions. These services include Accelerator Services for Copilot+ PCs, Services for Microsoft Copilot Studio and Azure AI Studio, and Implementation Services for Microsoft Azure AI Service. These offerings are intended to enhance productivity and support new business opportunities through AI application development.

Comprehensive data protection and security

On the cybersecurity front, Dell has also unveiled the Dell APEX Protection Services for Microsoft Azure, which provided Dell managed AI-powered cloud data protection and cyber resilience. This service aims to improve operational efficiency, enhance data protection with advanced data reduction capabilities and offer robust cyber recovery options.

Moreover, Dell has introduced new security services tailored for Microsoft environments. These services include advisory services for cybersecurity maturity model certification (CCMC) for Microsoft and Managed Detection and Response with Microsoft, helping customers align their cybersecurity posture and focus on core business activities while Dell experts monitor and respond to threats 24/7.

Arthur Lewis, President, Infrastructure Solutions Group, Dell Technologies said “Organisations modernising their IT strategies to support emerging workloads, like AI, need solutions that help them innovate faster, control costs and protect data across multicloud environments. Our storage software, data protection and services advancements help customers in Microsoft environments accelerate their transformation efforts quickly and securely.”

Aung Oo, VP of Azure Storage, Microsoft said “Our customers are looking for ways to modernise their IT infrastructure and adopt hybrid cloud services safely and securely. “Dell Technologies is enabling their customers to bring their existing knowledge, trusted platforms, and enterprise data to Azure to speed the adoption of critical technologies including Azure AI Services.”

Dell Technologies innovation highlight company’s commitment to helping businesses modernise their IT infrastructure while securely and efficiently adopting advanced AI solutions. With enhanced collaboration with Microsoft, Dell is providing the tools and services businesses need to thrive in today’s digital-first, multicloud world.

Availability

  • Dell-managed Dell APEX File Storage for Microsoft Azure will be available in public preview beginning in the first half of 2025.
  • Accelerator Services for Copilot+ PCs are available now.
  • Services for Microsoft Copilot Studio are available now.
  • Services for Microsoft Azure AI Studio are available now.
  • Implementation Services for Microsoft Azure AI Service are available now.
  • Dell APEX Protection Services for Microsoft Azure will be available beginning in the first half of 2025.
  • Advisory Services for Cybersecurity Maturity Model Certification (CMMC) for Microsoft are available now.
  • Managed Detection and Response with Microsoft services are available now.

CEOs forecast increase in revenues, profits and deal making in 2024, as AI adoption moves up the agenda

CEOs around the globe are optimistic about their ability to drive revenue growth and profitability in 2024 despite global economic challenges, according to the latest EY CEO Outlook Pulse survey.

The EY quarterly survey of 1,200 global CEOs on their prospects, challenges and opportunities, shows they are bullish on business performance for 2024 with a significant majority expecting an increase in revenue growth (64%) and profitability (63%).

Furthermore, 41% of Global CEOs, say they will be prioritising widespread adoption of AI technologies to drive efficiencies and improve business performance, while three in four (76%) agree the technology will have little impact on revenue growth at this time, viewing it as a strategic necessity rather than an immediate driver of revenues.

The optimism for success comes despite acknowledgement of a continued challenging macroeconomic environment with three-quarters (76%) of CEOs surveyed expecting the global economy to continue to endure low or no growth and over half (57%) forecasting an increase in the cost of business.

Graham Reid, Head of Tax & Law and Clients & Markets at EY Ireland, says:

“Even though CEOs are expecting slower growth in the global economy, this hasn’t dampened their confidence. Mirroring trends that we are seeing here in Ireland CEOs globally are seeking opportunities to drive efficiencies, transform their business for growth and to harness the potential of Artificial Intelligence. While Ireland’s economy has not been immune to global macroeconomic trends over recent years, businesses here – whether indigenous or multinational – have handled this uncertain trading environment remarkably well and are now looking ahead with increasing confidence to the future.”

 

Lift-off for deals market in 2024

CEOs are anticipating a deals market bounce-back with eight in 10 (79%) respondents predicting an uptick in mergers and acquisitions (M&A) megadeals above US$10bn. Thirty-six percent of respondents are also actively pursuing M&A transactions over the next 12 months and a further 29% are seeking divestments. The US maintained its position as the most attractive target region in terms of M&A activity followed by Japan, the United Kingdom, China and India. Manufacturing was identified as the top sector for M&A deals closely followed by ‘banking and capital markets’, ‘insurance’, ‘consumer products’ and ‘mobility’ rounding up the top five.

This quarter, the survey also captured the perspectives of 300 private equity (PE) leaders across more than 20 countries, regarding their investment and portfolio management outlook. Mirroring CEO sentiment, the majority of surveyed PE leaders (71%) also predict an uptick in megadeals. Seventy percent of surveyed PE leaders predict an increase in corporate divestment or carve out activity in 2024, signifying a more buoyant deals market than seen in the previous year.

Graham Reid says, “Many CEOs globally are revisiting their business transformation plans, scanning for smart investments and laying the groundwork for potential alliances as the M&A market now begins to show signs of recovery.”

Transformation plans speed up, with a focus on efficiencies 

Underpinning the rise in CEO confidence is a rush toward strategic transformation, 58% of CEOs surveyed are accelerating their business transformation agendas – a significant leap, almost tripling from 21% in July 2023. In stark contrast, only 5% now report having no transformation plans, a fall from 37% in July 2023. Nevertheless, despite the bullish sentiment, CEOs are demonstrating pragmatism in their approach to business transformation. Primary focus areas include efficiency enhancements and cost management strategies.

Graham Reid says, “If 2023 was the year of transition as organisations grappled with a series of crises, 2024 is shaping up to be the year of action. With an acceptance that the costs of doing business are unlikely to fall to pre-pandemic levels, we’re seeing a shift in how CEOs approach business transformation, balancing optimism with pragmatism and focusing on efficiency and cost management.”

Geopolitical risks take centre stage in bumper year for elections

With over half of the world’s population going to the voting booth over the next 12 months, CEOs are acutely aware of geopolitical risks and the potential business impact. Over three-quarters of those surveyed (78%) are worried about the potential rise of populist movements to increase geopolitical uncertainty and create business challenges. Seventy-six percent of respondents were also concerned about the political misuse of AI in major 2024 elections.

While many CEOs feel confident about their organisation’s ability to integrate geopolitical turbulence into their decision-making, nearly half (48%) of respondents believe there is room for improvement in their defined and active processes for managing geopolitical risks. In fact, 98% of CEOs and PE leaders surveyed are having to make alterations to their investment plans including exiting certain businesses (32% of CEO respondents and 38% of PE respondents) or delaying a planned investment (42% of CEO respondents and 32% of PE respondents).

Graham Reid says, “The influence of the political world on the corporate world is as strong as ever, but this year we’re seeing another risk emerge – the rise of AI in political campaigning and the potential for its misuse. CEOs are well aware of the need to integrate geopolitical turbulence in their strategic plans. But with many still unsure about their AI risk management processes, now is the time to revisit and refine strategies to help them navigate the business landscape that continues to be volatile and unpredictable.”

To read the full report, please visit: ey.com/CEOOutlook.

Main Insights from Institutional Crypto Adoption

In the ever-evolving landscape of cryptocurrencies, one notable phenomenon that has gained significant momentum is the increasing involvement of institutional players. Once perceived as a speculative and risky asset class, cryptocurrencies are now attracting the attention of traditional financial institutions, hedge funds, pension funds, and even central banks. This shift in perception and growing interest among institutional investors has had profound implications for the crypto market, and it continues to shape the future of finance.

The rise of institutional crypto adoption signifies a pivotal moment in the maturation of the digital asset space. As more significant, established entities enter the market. They bring substantial capital, expertise, and influence. Their participation not only provides a vote of confidence in the potential of cryptocurrencies but also introduces new dynamics that influence market trends, volatility, and regulatory considerations.

Growing Interest among Institutions

In recent years, there has been a remarkable transformation in the perception of cryptocurrencies among institutional players. Once regarded with skepticism and caution, cryptocurrencies are now captivating the attention of traditional financial institutions, asset managers, and corporations. The growing interest among institutions in the crypto market marks a significant shift in the industry’s landscape and holds the potential to redefine the global financial ecosystem.

As institutions begin to recognize the unique opportunities offered by cryptocurrencies, they are devoting considerable resources to research, education, and strategic planning. We are witnessing increasing reports, whitepapers, and analyses released by leading an institutional crypto exchange that delves into the intricacies of the crypto market and its potential implications for the broader financial landscape.

However, despite the growing enthusiasm, institutional adoption of cryptocurrencies has challenges and concerns. Regulatory uncertainties, security, custodial solutions, risk management strategies, and integrating crypto assets into existing institutional frameworks are among the obstacles that must be navigated.

The growing interest among institutions in the crypto market indicates the industry’s maturation and acceptance as a legitimate asset class. As this trend continues to unfold, the interaction between traditional finance and the crypto space will likely shape the future of investment and financial systems worldwide. The path ahead is exciting and challenging, with the potential to redefine how institutions approach investments and pave the way for the broader adoption of cryptocurrencies.

Challenges and Concerns

Despite the growing interest and adoption of cryptocurrencies by institutional players, the industry has its fair share of challenges and concerns. These obstacles, which are both regulatory and operational in nature, pose significant hurdles for institutions looking to embrace the crypto market fully. As they navigate these complexities, a deeper understanding of these challenges is essential for informed decision-making and the successful integration of cryptocurrencies into institutional frameworks. The main challenges and concerns include:

  • Regulatory Uncertainty and Compliance Issues. The regulatory landscape surrounding cryptocurrencies remains highly fragmented and varies significantly from one jurisdiction to another. 
  • Security and Custodial Solutions. The complexity of managing private keys securely poses a significant challenge for crypto institutional investors, necessitating the adoption of sophisticated security protocols.
  • Volatility and Risk Management Strategies. Institutions must develop effective risk management strategies to mitigate the impact of price fluctuations and prevent potential losses, especially in highly volatile periods.
  • Market Manipulation and Lack of Transparency. Organizations must exercise caution and due diligence in selecting reputable institutional crypto exchanges and trading platforms to avoid potential exposure to fraudulent schemes or unfair practices.
  • Institutional Adaptation to Digital Asset Infrastructure. The integration of cryptocurrencies into existing institutional infrastructure poses technological challenges. 
  • Lack of Institutional-Grade Financial Products. While the crypto market has seen the emergence of various financial products, such as Bitcoin futures and exchange-traded funds (ETFs), a comprehensive range of institutional-grade financial products is still limited. 
  • Reputation and Perceived Risk. Cryptocurrencies have been associated with illicit activities and concerns over money laundering and terrorist financing. 

Despite these challenges, the growing interest among institutions in cryptocurrencies signals a willingness to explore the potential benefits of this disruptive asset class. As the industry matures, many of these concerns will likely be addressed through regulatory advancements, improved infrastructure, and institutional best practices. As institutions understand the risks and rewards associated with cryptocurrencies, they are better positioned to navigate the path toward successful and responsible institutional adoption of crypto.

Impact on the Crypto Market

The growing involvement of institutional players in the crypto market has profoundly impacted various aspects of the industry. Institutions’ participation has contributed to positive developments and new challenges as they bring substantial capital, expertise, and credibility. The impact on the crypto market can be observed in the following ways:

  • Price Volatility and Market Correlations. Institutional investors’ entry into the market has helped reduce the extreme price volatility traditionally associated with cryptocurrencies. As more institutional money flows into the market, price fluctuations stabilize. However, during heightened market uncertainty or macroeconomic events, institutional investors may also exacerbate short-term price swings due to large-scale buying or selling.
  • Increased Liquidity and Market Maturity. The influx of institutional capital has significantly increased the overall liquidity of the crypto market. With more substantial trading volumes, cryptocurrencies have become more liquid assets, allowing for smoother and more efficient transactions. This liquidity has also enhanced the market’s maturity and credibility, making it more attractive to more investors.
  • Integration with Traditional Financial Systems. As more financial institutions provide cryptocurrency-related services, such as custody, institutional crypto trading, and investment products, the lines between traditional finance and the crypto space continue to blur. This integration fosters a more seamless flow of capital and creates new investment opportunities.
  • Diversification of Investment Strategies. Institutional adoption has led to the diversification of investment strategies within the crypto market. Institutional investors tend to conduct thorough research and implement a more systematic approach to their investments. 
  • Impact on Retail Investors and Mass Adoption. Institutional players’ involvement has a significant influence on retail investors’ behavior. When well-known institutions publicly endorse or invest in cryptocurrencies, it can boost retail confidence and increase retail participation. 
  • Regulatory Attention and Clarity. Institutional interest in cryptocurrencies has drawn more regulatory attention. Regulators increasingly focus on addressing potential risks associated with institutional involvement, such as market manipulation, fraud, and investor protection. 
  • Infrastructure Development. The influx of institutional investors has accelerated the development of crypto-related infrastructure. This includes the growth of specialized custodial services, institutional-grade trading platforms, and regulatory-compliant financial products tailored to meet institutional requirements. 
  • Long-term Investment Perspectives. Institutions are more likely to hold their investments over extended periods, reducing speculative short-term institutional crypto trading platforms and potentially fostering a more stable and sustainable growth trajectory for the crypto market.

Despite these positive impacts, institutional involvement also introduces new challenges, such as increased scrutiny, potential market manipulation concerns, and a greater need for compliance with regulations. As the crypto market continues to evolve, the interplay between institutional players and the broader crypto ecosystem will shape its future trajectory and contribute to the ongoing transformation of the global financial landscape.

Future Outlook

The trend of institutional players allocating funds to cryptocurrencies will likely continue, driven by the potential for diversification, higher returns, and growing confidence in the asset class. As regulatory frameworks become more transparent and favorable, institutions may feel more comfortable increasing their exposure to digital assets.

The demand for secure and institutional-grade custodial solutions will lead to further advancements in security measures. Custodial services will evolve to meet the stringent requirements of institutions, reducing security concerns and encouraging more significant investments.

Education and research initiatives by financial institutions and organizations will likely expand, aiming to bridge the knowledge gap and provide comprehensive insights into the crypto market’s complexities and potential benefits.

Institutions will likely continue engaging with regulators to provide feedback and insights on regulatory developments. This collaboration will be essential to foster an environment encouraging responsible institutional participation in the crypto market.

Overall, the outlook for institutional crypto adoption appears promising, with institutions expected to play an increasingly vital role in shaping the industry’s growth and direction. As the regulatory landscape becomes more defined and the infrastructure supporting digital assets continues to improve, institutional players will have more opportunities to integrate cryptocurrencies into their investment strategies and contribute to the ongoing transformation of the global financial landscape.