KPMG put out results from a GenAI survey recently and it made this thought I’ve had bubbling in my mind for a while boil over: Does leadership even know what it is or are they just saying this because they don’t want to seem out of touch?
Some key points from the KPMG survey, as key-pointed by KPMG:
- 97% of leaders are investing in GenAI over the next 12 months, with 43% of leaders saying their organizations plan to invest $100 million or more.
- 51% of leaders are currently measuring GenAI-related ROI through productivity gains, followed by employee satisfaction (48%) and revenue generated (47%).
- Many organizations have already or are planning to provide mandatory GenAI skills training for both employees (75%) and leaders (77%) in the next 12 months.
- 54% of leaders expect new business models to support their growth strategies in the next 12 months, followed by new product and revenue streams (46%), productivity (39%) and profitability (31%).
“We’re entering the next phase of GenAI, moving from pilots to transformational programs,” said Steve Chase, KPMG’s Vice Chair of AI & Digital Innovation. “Early experimentation has proven the potential of GenAI, sparking a readiness for greater investments that will deliver enterprise-wide productivity gains, reshape business models and create new revenue streams. Our experience at KPMG and with our clients has underscored that the readiness of your workforce will ultimately dictate success with GenAI, and this will be truer than ever as we enter this next phase.”
Remember when blockchain was the hot new technology and all the C-suite execs surveyed were overwhelmingly enthusiastic about its adoption and potential for transformation? Yeah.
Related: OpenAI CEO Sam Altman said on a podcast that GPT-4 sucks.
Also related: AI’s Dirty Secret: Poor People in the Developing World Are Doing Most of the Work
