With generative AI making it doable to chop down on workloads throughout departments, CEOs are turning their consideration to maximizing productiveness in 2023, as many imagine that the aggressive benefit right this moment will rely upon who has essentially the most superior generative AI. Though there are nonetheless critical considerations in regards to the younger tech—together with information bias, safety, accuracy, and accountable use—new large-scale analysis from IBM’s Institute for Enterprise Worth discovered that just about half of CEOs surveyed determine this potential for productiveness as their highest enterprise precedence, up from sixth place in 2022.
The brand new world examine, CEO Choice-Making within the Age of AI, Act with Intention, primarily based on a survey with analysis companion Oxford Economics that included 3,000 CEOs worldwide, additionally affirms that leaders acknowledge know-how modernization is vital to attaining their productiveness targets, rating it as second highest precedence. But, executives are additionally weighing potential dangers or limitations of the know-how—greater than half (57 p.c) of CEOs surveyed are involved about information safety, and almost half (48 p.c) fear about bias or information accuracy.
Non-CEO execs aren’t as certain about taking the AI plunge
Half (50 p.c) of CEOs surveyed report they’re already integrating generative AI into services, and 43 p.c say they’re utilizing generative AI to tell strategic selections. But, simply 29 p.c of their govt groups agree they’ve the in-house experience to undertake generative AI—solely 30 p.c of non-CEO senior executives surveyed say that their group is able to undertake generative AI responsibly.
“Generative AI can cut back the limitations to AI adoption and half of CEOs interviewed are actively exploring it to drive a brand new wave of productiveness, effectivity and high quality of service throughout industries,” mentioned Jesus Mantas, world managing companion at IBM Consulting, in a information launch. “CEOs have to assess their firm necessities round information privateness, mental property safety, safety, algorithmic accountability and governance with a view to plan their deployment of rising use circumstances of generative AI at scale.”
Key findings embrace:
CEOs are more and more trying towards operational, know-how and information leaders as strategic resolution makers
Extra information gathered throughout the survey signifies the next:
- When requested which C-Suite members will take advantage of essential selections over the following three years, CEO respondents determine COOs (62 p.c) and CFOs (52 p.c).
- The affect of know-how leaders on resolution making is rising—38 p.c of surveyed CEOs level to CIOs (up from 19 p.c a 12 months in the past), adopted by Chief Know-how or Chief Digital Officer (30 p.c) as making essentially the most essential selections of their group.
CEOs point out they’re able to undertake generative AI, however different executives have reservations
- Three out of 4 (75 p.c) CEOs surveyed imagine the group with essentially the most superior generative AI can have aggressive benefit.
- Half (50 p.c) of CEOs report they’re already integrating generative AI into services; 43 p.c say they’re utilizing generative AI to tell strategic selections, with 36 p.c utilizing the know-how for operational selections.
- Whereas 69 p.c of CEO respondents see broad advantages of generative AI throughout their group, simply 29 p.c of their govt groups agree they’ve the in-house experience to undertake generative AI.
- Solely 30 p.c of non-CEO senior executives surveyed say that their group is able to undertake generative AI responsibly.
Generative AI is fueling workforce adjustments, however broader assessments of its influence on the workforce are lagging
- About 43 p.c of surveyed CEOs say they’ve decreased or redeployed their workforce attributable to generative AI, with a further 28 p.c indicating they plan to take action within the subsequent 12 months.
- On the similar time, 46 p.c of CEOs surveyed have employed extra employees due to generative AI, with 26 p.c saying they’ve plans for extra hiring forward.
- But, fewer than one in three CEOs (28 p.c) surveyed have assessed the potential influence of generative AI on their workforces, and 36 p.c say they plan to take action within the subsequent 12 months.
Shifting CEO priorities:
Obtain the total report right here.
The IBM Institute for Enterprise Worth, in cooperation with Oxford Economics, interviewed 3,000 CEOs from over 30 nations and 24 industries as a part of the twenty eighth version of the IBM C-Suite Research sequence. These conversations centered on executives’ views on management and enterprise; their altering roles and obligations; and CEO resolution making right this moment, together with key challenges and alternatives, their use of know-how, information and metrics, and their visions for the longer term.
