GEN AI
Looking ahead , Deloitte ’ s data suggests we ’ re only scratching the surface of Gen AI ’ s potential to reshape industries . Nearly half of firms plan to reinvest any cost savings into pursuing even more ambitious innovation initiatives . And 43 % intend to double down on harnessing AI to streamline operations and processes enterprise-wide .
Organisations must act swiftly and decisively to embed Gen AI into their core business fabric . Those that move slowly , the report warns , risk being leapfrogged by more assertive competitors capitalising on AI to disrupt their markets with new business models , products and services .
“ Business leaders in the UK are becoming bullish about the potential of Gen AI and we can see this being matched by increasing investment in the technology ,” comments Lorraine Barnes , Gen AI lead at Deloitte UK . “ Our research shows that most executives expect AI investment in their organisations to increase over the next fiscal year .
“ As more companies experiment and implement Gen AI , upskilling the workforce becomes essential . The challenge for organisations , however , will be keeping pace with rapid advances in the technology .
“ Many business leaders are also mindful of the risks which Gen AI may present , the biggest being around regulation . Regulations are developing quickly and organisations expect to face a level of uncertainty over their ability to meet them .” technologymagazine . com 123