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.