Peak AI research: UK firms weighed down by decision paralysis

Two-thirds of UK CEOs and other C-suite executives have experienced ‘decision paralysis’, according to research by artificial intelligence company, Peak.

Its Decision Intelligence Report 2021 surveyed 500 participants sitting in both C-suite executive and founding roles in business across the UK, ranging from SMEs to companies turning over more than £25 million annually.

In your day-to-day role, how confident are you that you’re making the right decisions?
— Peak (@Peak_HQ) March 19, 2021

64% of C-suite executives admit that decision making is now more complicated than ever before, with 49% disclosing that it takes too long within their company and that they had recently delayed making a big business decision until it was too late.

54%, meanwhile, regret having made a major business decision.

When asked to identify some of the root causes of decision paralysis in their businesses, 60% of the participants pointed to outdated processes and operations that needed to be unlearned or overhauled.

Richard Potter, Co-founder and CEO at Peak, comments: “Despite businesses having more data at their disposal than ever before, it's clear, from our report that decision making is harder than ever.”

“The last year has been an immensely tough time for business and making the right call at the right time has never been more important. Luckily, we're now in a technological era where AI can help make decisions alongside us.”

He concludes: “We believe that AI can fundamentally change how we make decisions and is uniquely placed to help us make the most of the vast and complex data at our disposal, and make decision paralysis a relic of the past.”