According to a new survey by PwC, global CEOs see great potential in generative AI but also acknowledge significant challenges, particularly regarding cybersecurity risks and building trust in the technology.
Executives expect generative AI to improve product quality, employee productivity, and company efficiency in the short and long term, with a subsequent positive impact on profits. However, increased capabilities in the industry may intensify competition.
The societal impact of generative AI remains unclear, with potential workforce shifts, and the need for companies to focus on hiring gen AI-savvy talent and upskilling existing employees. CEOs are advised to be transparent and purpose-driven in their AI-related plans and decisions to build trust among employees and address concerns.
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