IBM CEO study: 75% of companies believe the organization with the most advanced generative AI wins in the long run

According to IBM’s annual study, CEO decision-making in the age of AI, Act with intention, 3 out of 4 (75%) of participating companies believe that the organization with the most advanced generative artificial intelligence will have a competitive advantage. However, as with any rapidly developing technology, businesses are proving to be unprepared and unsure of how to use it.

“We are at the beginning of a journey to understand the power, scale and capabilities of generative artificial intelligence. Naturally, recent developments in AI have inspired business leaders to reassess the potential of Tech and how it can help drive business growth. Companies must act – and quickly, given the speed with which generative AI could be adopted – to accelerate the digital transformation”, said Cerasela Baiculescu, IBM Romania and Moldova Country Leader, during today’s media discussion, about the future of business with TAKES. The event was hosted by IBM in Bucharest, with its partner, ASEE Solutions Romania.

The main obstacles to the adoption of generative artificial intelligence by companies

The study shows that the main obstacles to the adoption of generative artificial intelligence are the following: data lineage, data security, regulation and compliance. Executives assess the technology’s potential risks or obstacles, such as bias, ethics, and security. More than half (57%) of companies participating in the study are concerned about data security, and 48% fear data bias or accuracy. However, as with any rapidly developing technology, businesses are unprepared and uncertain about how they can use artificial intelligence.

There is also a discrepancy between company leaders and their teams when it comes to AI training. Half (50%) of companies say they already integrate generative AI into products and services, and 43% say they use it for strategic decisions. However, only 29% of executive teams agree they have the in-house expertise to adopt generative AI.

Adrian Năstase, Country Leader, President of the Board of Directors of ASEE Solutions Romania, participating in the discussion, added: “The increased statistics regarding the adoption of artificial intelligence really reflect the reality. Over the past 2 years, interest in AI has grown exponentially. We are on the brink of a revolution. I am convinced that the future will largely belong to this technology and will be part of the lives of each of us.”

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Ayn Rand Centre: 63% of businesses want to adopt artificial intelligence in three years

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Companies say productivity – and the technology to support it – is a priority according to a McKinsey survey. The global adoption of artificial intelligence in large enterprises has doubled from 2017 to date. The impact of AI is already being felt in various industries, as well as workplaces, globally.

“AI is transforming the way HR, IT, procurement, finance, customer service and more do business. We strengthen our supply chains, protect critical enterprise data from cyber attackers, and help deliver better customer experiences across industries. AI is a powerful tool for automating business processes and routine tasks, as well as for achieving sustainability goals,” explained Cerasela Baiculescu, Country Leader IBM Romania and Moldova.

Adrian Năstase, Country Leader, President of the Board of Directors of ASEE Solutions Romania, added: “Ethics is a very important aspect that we have to consider when we talk about AI. I mean how we use this technology to our advantage, to achieve our goals and to provide the business with a lot of benefits. We are investigating internally to find ways to improve productivity with the help of artificial intelligence. I also believe that adaptability to new technologies is the key to future success.”

According to the study, leaders around the world claim that productivity, technological evolution and customer experience are their top priorities for the next three years. “As productivity rises to the top of their agenda, companies are turning to artificial intelligence to become more efficient. In this way, it helps employees to work smarter and with less effort”, says Cerasela Baiculescu, Country Leader, IBM Romania and Moldova.

2 out of 3 companies operate without a clear vision of how to use AI

The need to adopt generative AI as a business and decision-making tool is an important moment—a time when companies need to set their plans clearly and be ready for the use of AI.

However, the study shows that less than 1 in 3 companies have completed an assessment of the potential impact of generative AI on the workforce. What’s more, 2 out of 3 leaders may be acting without a clear vision of how to help your employees adapt to the changes brought about by AI. However, as more adopt AI, the long-term trend is clear: only 1 in 5 companies do not plan to use AI. Accessibility is the main factor encouraging its adoption.