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Tech
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Survey
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3 minute read

Generative AI remains a powerful changemaker

Recently, Deloitte surveyed 2,000 business and technology leaders who are actively implementing and scaling Generative AI. Their findings provide both inspiration and valuable insights for every CIO looking to leverage this powerful technology to scale initiatives, build trust, and nurture a thriving workforce.

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key takeaways
1.

Generative AI is leading to major changes in talent strategies. Three out of four organisations are expecting major adjustments within the next two years.

2.

Building trust within every organisation is crucial. This means ensuring high-quality data inputs, reliable outputs, and clear strategic goals.

3.

Companies are reinvesting their savings from Generative AI back into their businesses. Specifically, 45% are focusing on innovation, while 43% are enhancing operations.

The excitement around Generative AI began to build in late 2022 with the launch of OpenAI’s ChatGPT. Since then, we have entered a new technological era, witnessing an unprecedented pace of development in AI models and hardware. To understand this landscape, Deloitte surveyed 2,000 business and technology leaders about their experiences scaling Generative AI, building trust, and developing their workforce.

For a comprehensive understanding, explore the full report here. If you seek a quick overview, here are some key findings:

Upskill and reskill

AI is not here to replace humans. As companies integrate AI into their daily operations, there is a growing demand for individuals who can develop and implement AI technologies. This shift requires a specific skill set to effectively use AI in the workplace.

With a shortage of tech talent, many organisations are focusing on upskilling and reskilling their existing workforce. This trend aligns with AI’s evolving value landscape, where there is an increasing importance placed on both technology-centred skills, such as data analysis and prompt engineering, and human-centred skills like critical thinking and creativity. As a result, 75% of leaders expect to find new roles within their organisations to accommodate changes driven by AI.

Build trust

Despite reassurances that AI will not take our jobs, the rapid deployment of AI has raised concerns. According to Deloitte’s report, 60% of organisations are balancing the fast integration of Generative AI with the need for risk management. This highlights the importance of establishing robust processes for building trust in their strategies.

The lack of trust can significantly hinder the widespread adoption of Generative AI. Many organisations report that trust issues regarding the quality and reliability of AI outputs are major obstacles. To address this, it is crucial to focus on transparency and improve the explainability of AI systems. This means providing clearer insights into how AI generates outputs, the data used, and the reasoning behind its decisions. By enhancing understanding, organisations can alleviate employee concerns and foster acceptance of the technology.

Reinvest savings from excellence in Generative AI

A skilled and trustworthy workforce can achieve remarkable results. Many companies are already reaping the rewards of adopting Generative AI. Instead of distributing greater bonuses, they are reinvesting these savings back into their organisations.

Nearly half of the surveyed organisations (45%) are investing their savings from Generative AI into innovation initiatives. This commitment underscores their dedication to fostering new ideas, products, and services that drive future growth. By focusing on innovation, companies aim to harness the creative potential of Generative AI to enhance existing offerings and explore new market opportunities, such as research and development (R&D) and adopting cutting-edge technologies.

In addition to innovation, 43% of organisations are directing savings towards operational improvements, recognising the efficiency gains that Generative AI can deliver. By reinvesting in operational processes, companies aim to streamline workflows, boost productivity, reduce costs, and enhance overall performance. This may involve automating tasks, optimising procedures, or improving customer service through AI-driven insights.

Interested in exploring more tech trends? Discover what other tech leaders are currently working with here.