Seventy-seven percent of CxOs believe AI will give their companies competitive advantage, but 91% of companies will determine that they don't have enough data to achieve a level of precision needed for trust, according to a Constellation Research and Dialpad survey.
The survey is based on responses from more than 1,000 senior executives in the US, Canada, UK, Australia and New Zealand about their AI initiatives.
Key takeaways from the survey include:
- 77% of leaders believe AI will give them competitive advantage.
- 75% of respondents believe AI will have a significant impact on their roles in the next three years.
- 54% are concerned about AI regulation.
- 38% are moderately to extremely concerned about AI.
- 72% of CxOs plan to reskill workers for AI.
- 69% of respondents are already using AI at work.
- 33% of executives say their companies are using two AI solutions, 15% have three and 9.5% using four or more.
The survey also focused on early adopters who are applying AI to analytics, automating work, content creation, forecasting and insights. These CxOs are betting that the Return on Transformation Investments (RTI) with AI will come from efficiency, revenue and growth, compliance and risk and proactive monitoring.
- Why digital, business transformation projects need new approaches to returns
- Data leaders bullish on generative AI, but multiple challenges remain, says Informatica
- Hitachi Vantara Exchange New York: 10 takeaways on generative AI, transformation, data management
- GenAI trickledown economics: Where the enterprise stands today
While security, data leakage, hallucinations with generative AI and cost are key concerns for CxOs, high quality and high-volume data has emerged as a more long-term concern. Ninety-one percent of companies will determine they don't have enough data to achieve a level of precision they trust. For now, however, 66.5% of CxOs believe their team is getting enough data to power AI efforts.
Related: Middle managers and genAI | Why you'll need a chief AI officer | Enterprise generative AI use cases, applications about to surge | CEOs aim genAI at efficiency, automation, says Fortune/Deloitte survey