Capgemini Institute’s report found that despite risks, 74 percent of executives believe the benefits of generative AI outweigh the concerns
Capgemini Research Institute’s latest report found that despite apparent risks, such as copyright infringement or cybersecurity, nearly three-quarters (74 percent) of executives believe the benefits posed by generative AI outweigh the associated concerns.
According to Capgemini Research Institute’s latest report, ‘Harnessing the value of generative AI: Top use cases across industries’, which examines the transformative force of genAI for innovation across enterprises, 70 percent of executives also believe the technology will enable organizations to widen the scope of knowledge workers’ role.
In addition, the research, which surveyed 1,000 organizations interested in exploring generative AI across 13 countries, including US, Europe and Asia Pacific, found that nearly all executives (96 percent) recognize that generative AI is a key topic in the boardroom, with the majority confirming their leadership teams are strong advocates.
Generative AI as an opportunity to drive revenues
While 21 percent of the surveyed shared they anticipate a disruption in their industries, 40 percent of organizations across industries have already established teams and budgets for the technology, with a further 49 percent contemplating doing so within 12 months.
When it comes to the detailed view, organizations believe that the most relevant generative AI-based platforms or tools for their industries are chatbots for automating customer service and improving knowledge management (83 percent) and designing, as well as collecting or summarizing data (75 percent).
Anticipated benefits of generative AI within three years
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Following the successful implementation of genAI, within three years’ time, executives foresee a range of benefits, including an eight percent increase in sales and a seven percent decrease in costs. Alongside this, those surveyed indicate that they could expect to see a nine percent improvement in both customer engagement and satisfaction, along with operational efficiency.
Franck Greverie, chief portfolio officer and group executive board member at Capgemini, said: “Generative AI is a transformational force for innovation in organizations, accelerating industry-specific use cases to create value, and it’s no surprise that it’s already at the top of the agenda of virtually every large organization.
“While generative AI can enable numerous benefits for businesses and employees alike, adopting a human-centric approach while scaling the technology and implementing necessary guidelines will be key to fostering trust in the workplace. As businesses accelerate their generative AI journeys, they must prioritize implementing it sustainably across the organization.”
The high-tech industry is leading the way in generative AI integration
When it comes to projections for its future, executives in the high-tech industry are the ones most convinced (84 percent) that the overall impact of generative AI will be positive. Nearly 70 percent of executives in this industry also say their organizations have generative AI pilots underway while 18 percent state that they have already implemented generative AI across some locations or business functions. The top two use cases are 3D modeling for detailed shapes and predictive maintenance.
In addition, the majority (67 percent) of executives across sectors see the most potential for generative AI in the IT function – particularly true within the high-tech sector which holds the largest percentage of executives (86 percent) saying their organization is using or planning to use genAI in IT. Other areas where executives see generative AI driving value are sales (54 percent) and marketing and communications (48 percent).
The rise of generative AI will create new roles and will require investment in upskilling
According to 69 percent of businesses, generative AI will begin to provide concepts and initial designs for projects, so employees’ roles will shift away from ideation and creation to review and refinement. This sentiment was also echoed by consumers, with 70 percent saying that they believe generative AI will make them more efficient at work, free them from routine tasks and enable them to explore more strategic aspects of their job.
The research also reveals that 69 percent of executives believe genAI will lead to the emergence of new roles such as AI auditors and AI ethicists. With the introduction of new generative AI-based roles, 68 percent of executives believe the integration of the technology into workforce will require significant investment in upskilling and cross-skilling of talent.
