Two Charts Reveal Why So Many Enterprises are Rushing to Adopt Generative AI
There’s a lot of enthusiasm for generative AI in the business world. Recent surveys show the motivations behind generative AI adoption and what is driving CEO’s to act.
According to an IBM survey this year, two-thirds of corporate board members and investors are urging CEOs to adopt generative AI. About half of customers are adding to the chorus calling for adoption, according to the report. With no major dissent from the key stakeholders, CEOs have no reason to dissent from the shared goal. As a result, businesses have begun incorporating generative AI into their enterprise technology budgets.
CEOs are Even More Bullish
It is not that CEOs are reluctant or simply reacting to pressure. A McKinsey survey of CEOs found that 69% believe generative AI will have broad benefits across their organization. The strong interest from board members, investors, customers, and stakeholders offers CEOs greater license to pursue generative AI investments. And that is exactly what they are doing.
What it Means
With so many stakeholders in agreement, generative AI is on a path to rapid adoption. It may be a central pillar for business technology before long. The key hurdles will be showing tangible business benefits while addressing risks related to incorrect responses and data security.
Companies are adopting a range of large language models and related applications for content creation, customer service, internal research, and more. This approach means startups and other developers will likely have access to plenty of investment capital for now, with a lot of openness to invest in the technology as long as enthusiasm among enterprises remains strong.