Business leaders are increasingly adopting generative AI (artificial intelligence) within their organizations, according to a recent study conducted by IT solutions integrator Insight Enterprises and research company The Harris Poll. The study revealed that 72% of Fortune 500 companies’ leaders plan to incorporate generative AI within the next three years to enhance employee productivity. However, concerns about the implementation of these technologies persist, with approximately half of the respondents expressing reservations. The primary concerns cited were quality and control, as well as safety and security risks.
The study also found that 90% of business leaders anticipate that adopting generative AI will impact specific organizational roles. Among the roles leaders thought would be most affected were data analysts and data scientists, followed by software developers and testers, and professionals in financial operations and communications roles.
Generative AI has the ability to assess millions of datasets and find patterns better than humans, making it highly effective in various fields such as research data analysis and software development. Business leaders recognize the potential of generative AI to enhance employee productivity and customer service. Two-thirds of the leaders surveyed believe that generative AI can improve customer service, with 44% specifically interested in providing personalized customer experiences through this technology.
The study also revealed that approximately half of the business leaders anticipate the use of generative AI in research and development, while others expect it to automate software development. Matt Jackson, global CTO of Insight, stated that generative AI and large language models (LLMs) will revolutionize business interactions and decision-making. These technologies have virtually limitless potential use cases, leading to a fundamental shift in the nature of work.
Despite the optimism surrounding generative AI, concerns about workforce displacement persist. Over a quarter of professionals expressed concerns about losing their jobs due to the implementation of generative AI. Budgetary constraints, compliance with legal and regulatory requirements, and human error were also cited as specific concerns.
Jackson emphasized the importance of careful consideration by business decision-makers on how to efficiently leverage generative AI. He highlighted the need for establishing robust governance and developing secure and customized solutions across the entire enterprise. Businesses must create policy frameworks that get reviewed on an ongoing basis to ensure that teammates understand the benefits, limitations, and drawbacks of generative AI.
The study, conducted among 405 U.S. respondents occupying full-time director-level positions or higher at companies with over 1,000 employees, sheds light on the growing adoption of generative AI in businesses. It provides valuable insights into the concerns and expectations of business leaders regarding the implementation of this technology.
