India, Oct. 15 -- European businesses rely increasingly on artificial intelligence, the latest Eurobarometer survey has found.

The results of the survey was published at the beginning of the European AI Innovation Month that brings together policymakers, industry, public sector, and research together to discuss and showcase how AI is being developed and applied across EU industry sectors.

According to the survey, 42 percent of the European small and medium sized enterprises and mid-cap companies that took part in the survey already use AI and AM - Algorithmic management - most of them in a limited and experimental way. An additional 21 percent plan to do so in the future.

Algorithmic management or automated systems refers to digital syst...