Generative AI isn’t a home run in the enterprise

Key Points:

  • The majority of C-suite executives are ambivalent or dissatisfied with their organization’s progress on GenAI, citing talent shortages and unclear deployment strategies as key concerns.
  • Despite recognizing GenAI as a priority, executives have reservations about its potential to bring substantial productivity gains to their companies’ workforces.
  • A significant number of decision-makers are discouraging GenAI adoption due to concerns about bad or illegal decision-making, data security compromises, and copyright violations.

Summary:

Generative AI, while receiving significant attention in the press, is facing skepticism from businesses about its potential impact on their bottom lines. A Boston Consulting Group (BCG) poll revealed that 66% of C-suite executives expressed ambivalence or dissatisfaction with their organization’s progress on GenAI. Executives cited talent and skills shortages, unclear roadmaps, and a lack of strategy for responsible GenAI deployment as major obstacles. Despite acknowledging GenAI as a priority, with 89% ranking it as a top-three IT initiative for 2024, only about half of the respondents expect substantial productivity gains from GenAI.

 

The high degree of enterprise skepticism surrounding AI-powered generative tools is evident, as over 50% of decision-makers in a previous BCG survey expressed concerns over bad or illegal decision-making and compromising data security. This skepticism is amplified by worries about copyright violations, reflecting a wider apprehension towards adopting GenAI in business settings.

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