Generative AI is the buzzword of the tech world at the moment. It is not only capturing attention but also high expectations from CEOs aiming for a remarkable return on investment (ROI). While this cutting-edge technology is poised to permeate various sectors, the driving force behind its adoption often comes from CIOs and tech leaders.
According to KPMG’s recent reports, nearly two-thirds of CEOs anticipate a return on their investment within three to five years. A smaller group, comprising less than one-third, expect to see a quicker ROI, within one to three years.
The survey reveals that a substantial 70 per cent of CEOs are channelling significant investments into generative AI, positioning it as their key competitive asset for the future.
While global CEOs remain eager to forge ahead with their investments, about 57 per cent express their concerns about potential risks around ethical dilemmas associated with implementing generative AI.
Implementing generative AI is no walk in the park, but with a strong foundation, tech leaders can navigate the path to success. For organizations that have advanced in the adoption process, the focus shifts to extracting real value from the implementation.
Most of the top leading companies not only in tech but all different niches have a deliberate approach to embracing generative AI. While carefully considering data management and defining clear principles for its use. The focus is on taking responsibility for this technology and emphasizing the importance of fostering strong partnerships within the organization.
The goal is crystal clear – to ensure a solid foundation with the right controls in place from the very beginning. This approach reflects a broader trend among tech leaders working diligently to usher in generative AI and provide their teams with clarity and education.
The bottom line? Generative AI is more than just a fancy tech trend—it’s a strategic investment for CEOs, promising substantial returns. While the journey might not be smooth, those who lay the groundwork and approach it diligently are more likely to reap the rewards in the long run.
So, for anyone, be it a CEO, CIO, or simply someone with an interest in the tech landscape, it’s wise to stay attentive to generative AI, as it is undeniably moulding the future of business.
