About 80% of Russian companies use artificial intelligence (AI) technologies. That’s what the not-for-profit Russian Association for Electronic Communications (RAEC) found in its most recent study conducted in partnership with the Higher School of Economics and Microsoft.

Four focal sectors were picked for the study, including heavy industry (mechanical engineering and mineral extraction), telecom, finance, and logistics.

A reported 100 experts in AI were polled, and representatives of the picked sectors interviewed.

An estimated 58% of the polled specialists and industry experts believe that AI tech works best in optimizing business processes.

Other advantages include the development of new products and services, an increase in labor productivity, a boost in the quality of products and services, an improvement of customer service, and the customers’ higher satisfaction.

An estimated 48% of the polled believe that risks associated with AI project implementation (lack of skilled staff and proper hardware) are the key hindrances that get in the way of businesses using AI tech.

Other major snags include an unfavorable cost-benefit ratio (advantages appear to be not that high as previously expected), security issues, personnel problems (including employees’ unwillingness to master new tech skills), and financial risks.

An estimated 63% of the polled think that the development and introduction of AI technologies must be regulated by the government.