Lithuania's AI Race: Companies Decide Today Whether to Be Competitive Tomorrow

Lithuania is at a critical juncture in its adoption of artificial intelligence, with a recent study indicating that 16% of its large and medium-sized companies are actively pursuing AI integration or have clear plans to do so. This proactive approach positions these firms to potentially become market leaders within the next decade.

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We can be proud that in Lithuania, we have flagships where AI is already fully integrated into operations and decision-making.

However, the pace of adoption varies across the Baltic states. Estonia is currently leading the region, with 22% of its large companies having fully integrated AI, testing it, or preparing for its transition. Latvia follows closely with 18% of its companies making similar strides. In contrast, a significant portion of Lithuanian businesses, 52%, are still in the exploratory phase, testing AI tools for specific functions.

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Because it is precisely these companies that have the greatest potential to become market leaders over the next decade.

The author, Leda Iržikevičienė, highlights the transformative impact of AI, likening the lack of an AI assistant in customer service or process automation to refusing a computer in favor of an abacus thirty years ago – a sure path to uncompetitiveness. She shares her personal experience, noting a several-fold increase in her information processing speed since adopting AI tools like "Copilot," "Gemini," "Claude," and "ChatGPT."

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Because in a few years, not having an AI assistant for customer service, for the automation of agent processes, will be the same as refusing to switch to a computer thirty years ago, and stubbornly continuing to calculate everything with a calculator – it will simply be uncompetitive.

While a majority of Lithuanian companies are still in the testing phase, with 33% using AI for basic tasks, the trend is clear: AI is becoming indispensable. The author stresses that failing to embrace AI now will put Lithuanian businesses at a significant disadvantage globally. The study, commissioned by the bank and conducted by the KOG Institute, surveyed large and medium-sized companies across the Baltic states, underscoring the urgent need for businesses to adapt to the rapidly evolving technological landscape.

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I personally cannot imagine how we used to work without AI – my information processing speed has increased several times.