Despite Barriers, CEOs See Unmatched Potential in Generative AI

More executives are looking into artificial intelligence, with many seeing the potential to boost productivity. According to a recent Deloitte/Fortune survey, CEOs are increasingly recognizing the potential of generative AI in reshaping the future of work.  

Over half, or 55%, of the surveyed CEOs are currently evaluating and experimenting with generative AI. A majority 79% believe that this technology will enhance efficiency, and 52% see it as a tool for growth opportunities. However, only 37% reported that they have started implementing generative AI in their operations. 

This growing interest in generative AI comes amidst a backdrop of various challenges, ranging from geopolitical uncertainties to economic fluctuations. While the surveyed CEOs are keen on leveraging this emerging technology, they are also cautiously managing the associated risks. 

The respondents have identified several implementation challenges, including a lack of workforce skills, security and risk concerns, technological immaturity, and the absence of compelling use cases that showcase the technology’s value. 

Interestingly, while cloud computing sees a robust adoption rate with 81% of CEOs claiming their organizations are fully integrated, only 13% have adopted generative AI at scale. Among those embracing generative AI, security, compliance, and risk a reported to be primary concerns. 

Notably, 83% of CEOs believe their organizations are well-equipped to realign workforce skills and training.  

While the future remains uncertain on many fronts, the trend toward embracing generative AI and its implications for the workforce is undeniable. As organizations continue to adapt and evolve, the role of generative AI in shaping the workforce will only become more pronounced.