Latvian Companies are Using Artificial Intelligence More Widely, with Nearly Half Reporting Time Savings
Artificial intelligence (AI) technologies have increasingly become an everyday work tool for Latvian companies over the past year. Forty-seven percent of medium-sized and large companies in Latvia report that they already use AI for basic tasks or within specific tools, while a further 20% use it in particular business departments. At the same time, nearly one-third (27%) of companies have not yet seen measurable benefits from AI or automation solutions, according to a survey of entrepreneurs conducted by OP Corporate Bank.*
AI is becoming increasingly integrated in the day-to-day operations of Latvian companies, gradually evolving from a support tool for individual functions into a more widely used technology across various business processes. In 2025, only 27% of surveyed Latvian companies reported using AI in their operations at all.** At that time, AI was most commonly used in marketing, data analysis and reporting, customer service, and sales. Today, however, nearly half of companies (47%) already use AI solutions for basic tasks. The second most common use case is the integration of AI solutions into specific business departments (20%), while some companies (15%) are still testing different AI solutions.
“Implementing artificial intelligence is not only a technology issue. It is also about organisational culture and skills development. We, too, are gradually integrating AI solutions into our daily operations, developing agents, and looking for opportunities to review processes in order to create greater value for customers and employees. At the same time, we are investing in employee competencies by building a network of AI ambassadors and organising initiatives that encourage practical learning and experimentation,” says Elmārs Prikšāns, General Manager of OP Corporate Bank plc Latvian Branch.
For Latvian companies, the most common benefit of AI and automation solutions is time savings, with nearly half (49%) reporting this as a measurable benefit over the past year. Meanwhile, 22% of companies state that AI and automation have helped increase productivity, while 15% report reduced costs. One in ten companies has also observed improvements in decision-making processes, greater process reliability and fewer errors, as well as improvements in work quality or customer experience.
“Our experience confirms the survey findings. The most immediate benefit is time savings, but in the long term, the greatest potential lies in the opportunity to review and improve processes, work more efficiently, and make higher-quality decisions. At the same time, secure, responsible, and regulation-compliant use of AI is becoming increasingly important in the financial sector,” notes E. Prikšāns.
AI Usage Patterns and Benefits Differ Across the Baltics
The trend of integrating AI into daily business operations is similar across the Baltic states, although both the ways it is used and the benefits observed by companies differ. In Latvia, 47% of companies use AI solutions for basic tasks, compared with 39% in Estonia and 33% in Lithuania. Meanwhile, the use of AI in specific business departments is at a similar level across all three countries. Notably, nearly one-third (32%) of companies in Lithuania are currently focusing more on legacy systems rather than AI. In Latvia, 12% of companies identify this as a priority, while in Estonia the figure is 8%.
Across the Baltics, time savings stand out as the most significant benefit of AI and automation. This is reported by 49% of companies in Latvia, 73% in Lithuania, and 78% in Estonia. Other reported benefits vary. For example, companies in Lithuania more frequently highlight improved work process efficiency (62%), productivity (53%), and cost savings (51%), while companies in Estonia most often point to improvements in decision-making processes (44%). In Latvia, 27% of companies have not yet observed measurable benefits, compared with 10% in Lithuania and 15% in Estonia, indicating that businesses are still exploring the full potential of these technologies.
* The survey was commissioned by OP Corporate Bank and conducted by the market research and communications science institute KOG Institute for Marketing and Communications Sciences in April 2026, surveying more than 300 representatives of medium-sized and large companies across the Baltics.
** The survey was commissioned by OP Corporate Bank and conducted by the market research company Rait in February 2025, surveying more than 300 representatives of companies from various industries across the Baltics.
About OP Corporate Bank plc Latvia Branch
OP Corporate Bank plc is the central bank of OP Pohjola, Finland’s largest financial services provider. It started operations in Latvia in 2012 and is currently one of the leading banks in Latvia by the volume of loans granted to medium-sized and large corporates. OP Corporate Bank plc Latvia Branch provides financial services to leading companies in Latvia and plays a significant role in the long-term development of both the country and the wider region.