Belfast-based software company Kainos reported a 17 per cent increase in annual sales to £431 million and pre-tax profit of £67 million.

Chief executive Brendan Mooney said the company plans to recruit another 200 graduates in the coming months after hiring 130 last year.

The firm grew its total workforce from 2,800 to 3,200 over the past year, including around 120 staff added through the acquisition of a Canadian firm.

Mooney expressed scepticism that large organisations would widely adopt AI to create and deploy their own software at scale.

Kainos reported revenues from AI and data projects rose 11 per cent to £46 million, representing about 20 per cent of its Digital Services division.

The company said it intends to double the size of its Responsible AI team to assist organisations with the design and deployment of AI applications.

Mooney noted that moving AI projects from pilot stage to full production remains complex due to requirements for security, compliance and system integration.