Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI, and:
Managing their AI strategy
Making their organization AI-ready
Evaluating the potential value of AI for their business
Balancing opportunity with risk
Most executives surveyed have a positive sentiment toward AI.
54% believe its impact will be greater than or equal to the internet.
59% believe AI’s impact will be greater than or equal to that of smartphones.
57% are excited or optimistic about AI’s potential impact on their business.
Nearly three-quarters of them also recognize the need to make changes to take full advantage of AI.
72% are currently reworking or planning to rework their business strategy or operations.
Yet there’s no consensus on AI adoption strategies and not enough metrics to measure success.
72% say they need better KPIs for their AI implementations.
Corporate leaders are optimistic about AI
59% of corporate functions have AI implementations in-process or have completed AI projects.
34% of corporate functions are planning AI implementations.
Only 20% of corporate leaders say they are well-positioned to leverage AI to their strategic advantage.
Infrastructure, customer expectations and IT support are concerns
The advent of Generative AI has brought strategic challenges to the forefront.
Security and privacy
Ethical and responsible AI use
Lack of IT readiness
Talent development and training
Cultural shifts
As the integration of AI into business processes accelerates, expected financial return on such an investment becomes increasingly significant. But only 19% of the respondents said they have "good enough" metrics and KPIs for their current stage of AI deployments. Without adequate KPIs for AI-enabled operations, proving ROI and getting future buy-in is challenging.
Future of AI
Most executives believe AI will augment and enhance human capabilities, enabling people to focus on higher-value activities that require creativity, empathy, and strategic thinking.
65% of companies think human strategic decision-making and creativity will remain essential to their competitive advantage.
As AI becomes more advanced and part of “business as usual,” the role of humans in the workplace will evolve. 41% of companies expect most of their employees will be using GenAI on a daily basis in three years.
Innovation and revenue growth will be a focus for future AI implementations. 69% of companies are more focused on using AI to spur innovation and increase revenue than on lowering costs and optimizing operations.
Embrace AI initiatives that support organizational priorities and use cases with the potential to enhance value chains and drive business outcomes like revenue growth, cost savings, and improved customer experience.
Create a multidimensional approach to AI adoption that encompasses strategic goals beyond productivity and revenue growth to include quality, reducing risk, improving operational efficiencies and organizational decision making.
Invest not only in the necessary technology and infrastructure, but also on a culture that embraces change, experimentation, and continuous learning.
Capitalize on AI’s capabilities to deliver more personalized, proactive and valuable experiences across the customer journey and differentiate your business from the competition.
Be ready for AI to expand revenue, opportunity and innovation and create new ways for humans to do their current jobs or even create new roles.
