GEN AI s generative AI ( Gen AI ) burst onto the scene in late 2022 , organisations around the world raced to explore the potential of this powerful new technology . Deloitte ’ s newly released State of Generative AI in the Enterprise report for Q1 2024 reveals that the initial novelty phase is rapidly giving way to serious efforts to operationalise and scale Gen AI to drive real business value .
The quarterly report , based on a survey of nearly 2,000 AI leaders across major industries and geographies , provides an in-depth look at the current generative AI landscape and the urgency organisations feel to overcome barriers and capitalise on the technology ’ s immense potential .
“ Business leaders are zeroing in on how Gen AI can help them meet their goals for efficiency and cost savings and many are looking into reinvesting savings in innovation and growth use cases – it is clear getting to scale , accurately measuring progress and selecting the right use cases will be critical factors in achieving value generation ,” said Costi Perricos , Deloitte Global Office of Generative AI Leader . “ Although financial ROI is important , value drivers such as innovation , strategic positioning and competitive differentiation can be even more important .”
AI-savvy firms forge ahead According to the research , organisations with high levels of Gen AI expertise are leading the charge when it comes to scaling adoption across their operations .
“ Business leaders are zeroing in on how Gen AI can help them meet their goals for efficiency and cost savings ”
COSTI PERRICOS GLOBAL OFFICE OF GEN AI LEADER , DELOITTE
A full 73 % of highly skilled AI firms report moving quickly to adopt Gen AI tools and systems across business functions .
This group is doubling down by investing heavily in technology infrastructure and providing their workforces with extensive access to Gen AI capabilities . The most advanced firms understand that unlocking maximum value hinges on seamlessly integrating the technology throughout their processes and empowering employees to leverage it .
Building workforce capabilities Notably , nearly three-quarters of all organisations surveyed plan to alter their talent strategies over the next two years to account for the generative AI revolution . Re-skilling , up-skilling and altering work processes top the list of workforce adjustments , reflecting the massive democratising impact Gen AI will have .
116 June 2024