“Effective Implementation of Generative AI in the Corporate World”

Generative AI gets a lot of press, from image-generating tools like Midjourney to Runway to OpenAI’s ChatGPT. To be clear, the execs — who hail from such industries as manufacturing, transportation and industrial goods — still see GenAI as a priority. Eighty-nine percent responding to the BCG poll ranked the tech as a “top-three” IT initiative for their companies in 2024. The results, taken in tandem with responses to a BCG survey late last year, put into sharp relief the high degree of enterprise skepticism surrounding AI-powered generative tools of any kind. “Bad or illegal decision-making” touches on copyright violations — a hot-button topic in GenAI.

According to reports, Generative AI has been making quite the buzz lately, with tools like Midjourney, Runway, and OpenAI’s ChatGPT capturing the attention of many. However, it seems that businesses are not fully convinced of its potential to positively impact their bottom line, as revealed by recent surveys, including Ron Miller’s coverage.

In a recent poll conducted by Boston Consulting Group (BCG), which surveyed over 1,400 C-suite executives, 66% expressed ambivalence or outright dissatisfaction with their organization’s progress on implementing Generative AI. The reasons stated for this lack of progress include a shortage of talent and skills, unclear roadmaps, and a lack of strategy for responsible deployment of GenAI.

It is essential to note that despite these sentiments, the surveyed executives, hailing from industries such as manufacturing, transportation, and industrial goods, still view Generative AI as a top priority. In fact, 89% of respondents ranked it as one of the “top three” IT initiatives for their companies by 2024. However, only about 50% of those surveyed expect GenAI to bring substantial productivity gains of 10% or more to their workforce.

These results, when coupled with responses from a BCG survey conducted late last year involving 2,000 executive decision-makers, highlight the significant skepticism businesses have towards all types of AI-powered generative tools. In last year’s survey, more than 50% stated that they were actively discouraging GenAI adoption, citing concerns about potential negative impacts, such as promoting unethical or illegal decision-making and compromising data security within their organization.

“Bad or illegal decision-making” can also lead to copyright violations, which is a highly contested issue in the world of GenAI.

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Kira Kim

Kira Kim is a science journalist with a background in biology and a passion for environmental issues. She is known for her clear and concise writing, as well as her ability to bring complex scientific concepts to life for a general audience.

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