Executives recognise the transformative power of generative AI
A recent report published by the Capgemini Research Institute titled “Harnessing the value of generative AI: Top use cases across industries” has unveiled an overwhelming belief among executives that generative AI will revolutionize organizations and widen the scope of knowledge workers’ roles. The research indicates that 70 per cent of executives anticipate generative AI to enable new possibilities for employees, while 96 per cent recognize its significance as a boardroom topic, with strong support from leadership.
The report highlights that, despite concerns related to copyright infringement and cybersecurity, 74 per cent of executives consider the benefits of generative AI to outweigh the associated risks. As a result, 40 per cent of organizations have already established dedicated teams and budgets for implementing generative AI, with an additional 49 per cent planning to follow suit within the next 12 months. These figures demonstrate the growing interest and commitment toward harnessing the potential of this cutting-edge technology across industries.
According to the research, executives perceive chatbots as the most relevant generative AI tool for their industries, particularly in automating customer service and enhancing knowledge management (83 per cent), as well as designing, collecting, or summarizing data (75 per cent). Furthermore, most executives (78 per cent) believe that generative AI will improve the efficiency and accessibility of product and service design, while making customer experiences more interactive (71 per cent) and improving customer service through automated and personalized support (67 per cent).
Looking ahead, executives foresee a wide range of benefits arising from the integration of generative AI within the next three years. They anticipate an 8 per cent increase in sales, a 7 per cent decrease in costs, and significant improvements in customer engagement, satisfaction, and operational efficiency, all driven by successful implementation of generative AI.
Franck Greverie, Chief Portfolio Officer, and Group Executive Board Member at Capgemini, remarked, “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. As businesses accelerate their generative AI journeys, they must prioritize implementing it sustainably across the organization, while adopting a human-centric approach and implementing necessary guidelines to foster trust in the workplace.”
The report also sheds light on the high-tech industry’s pioneering role in generative AI integration, with 84 per cent of executives in this sector expressing confidence in its positive impact. Almost 70 per cent of high-tech industry executives confirm that their organizations have ongoing generative AI pilot projects, while 18 per cent have already implemented the technology in some locations or business functions. The top two use cases cited in the industry are 3D modelling for detailed shapes and predictive maintenance.
Across various sectors, executives identify the IT function as having the most potential for generative AI (67 per cent), with the high-tech sector leading the charge at 86 per cent in terms of current or planned generative AI use in IT. Sales (54 per cent) and marketing and communications (48 per cent) are also viewed as areas where generative AI can drive significant value.
As generative AI becomes more prevalent, the research indicates that it will give rise to new roles such as AI auditors and AI ethicists, according to 69 per cent of executives. Furthermore, 68 per cent believe that integrating generative AI into the workforce will require substantial investment in upskilling and cross-skilling talent.
While nearly 80 per cent of organizations understand the importance of implementing and scaling generative AI sustainably, the report reveals that only half of those planning to train their own models have taken concrete steps to mitigate the technology’s environmental impact. This finding emphasizes the need for increased efforts toward sustainability in generative AI initiatives.
With executives worldwide recognizing the transformative potential of generative AI, businesses are poised to unlock new avenues for innovation, reshape job roles, and invest in upskilling their workforce. As organizations navigate the opportunities and challenges of this emerging technology, it is evident that a human-centric approach and sustainable implementation will be essential in realizing its full potential.