Business leaders expect benefits from generative AI, but readiness gap looms

Dive Brief:

• Nearly all — 97% — top business chiefs expect generative AI to materially impact their operations as pressure mounts to demonstrate tangible results from AI investments, according to an NTT Data report published Friday.
• Nearly two-thirds of the C-suite expect their investments in the technology to drive significant industry transformation next year, the survey of more than 2,300 business leaders found. Yet, almost half of CISOs said they have felt pressured and overwhelmed by generative AI, significantly higher than their C-suite peers. 
• Despite the enthusiasm overall, most organizations aren’t yet set up for success. Just over 2 in 5 respondents strongly agree existing generative AI tools meet their expectations, and most organizations lack the necessary capabilities to integrate the technology. 

Dive Insight:

All enterprises want the money and resources they poured into generative AI plans to pay off, but some are closer than others. 

There are signs of enterprise progress on generative AI outcomes. Nearly three-quarters of business leaders say they are now very satisfied with existing generative AI efforts, compared to just 41% a year ago, according to the NTT Data report. 

Businesses are most often using the technology to power personalized service recommendations, knowledge management tools, design and development processes and quality control, the report said. 

But pain points persist.

Nearly 90% of C-suite members are concerned about security risks associated with generative AI, according to NTT Data. Other worries include AI’s accuracy, costs, evolving regulatory provisions and ethical implications. 

Still, most IT leaders believe their teams can mitigate the technology’s risks. To help combat the issues, enterprises have upped employee training, focusing on responsible and secure use of the technology.