CEOs Prioritize Generative AI Investments Despite Ethical Concerns
The post CEOs Prioritize Generative AI Investments Despite Ethical Concerns appeared on BitcoinEthereumNews.com. A recent report by professional services firm KPMG has provided insights into the perspective of top-level executives, particularly CEOs, on integrating generative artificial intelligence (AI) into the workplace. The findings reveal that 72% of CEOs in the United States consider deploying generative AI a “top investment priority” despite the prevailing macroeconomic challenges. Various factors, including cost-saving opportunities and improved efficiency, drive this enthusiasm. However, this push for AI adoption is not without concerns, with ethical and regulatory issues topping the list of CEO worries. Differing approaches to AI investment The KPMG report also highlights CEOs’ differing approaches regarding AI investment strategies. While 57% of respondents intend to invest in new AI technology, 43% are focused on upskilling their existing workforce to harness the potential of AI effectively. This divergence in approaches reflects organizations’ diverse strategies to incorporate AI into their operations. Long-term returns on AI investments Many CEOs take a long-term view of their AI investments, expecting to see returns within three to five years. Only 23% express confidence in reaping rewards within a shorter timeframe of one to three years after investing in new technology or upskilling their staff. This longer investment horizon indicates that many CEOs see AI as a transformative technology with the potential for substantial, lasting impacts on their organizations. Fueling the AI appetite Several factors are fueling the growing appetite for generative AI among CEOs. One key driver is the need for cost savings and operational efficiency. Generative AI tools such as ChatGPT and Bard are making their presence known in corporate America, with thousands of employees relying on them to handle mundane and repetitive tasks. These tools streamline operations, freeing up employees to focus on more strategic and creative endeavors. Carl Carande, KPMG Global Head of Advisory, highlights the importance of CEOs harnessing generative…
The post CEOs Prioritize Generative AI Investments Despite Ethical Concerns appeared on BitcoinEthereumNews.com.
A recent report by professional services firm KPMG has provided insights into the perspective of top-level executives, particularly CEOs, on integrating generative artificial intelligence (AI) into the workplace. The findings reveal that 72% of CEOs in the United States consider deploying generative AI a “top investment priority” despite the prevailing macroeconomic challenges. Various factors, including cost-saving opportunities and improved efficiency, drive this enthusiasm. However, this push for AI adoption is not without concerns, with ethical and regulatory issues topping the list of CEO worries. Differing approaches to AI investment The KPMG report also highlights CEOs’ differing approaches regarding AI investment strategies. While 57% of respondents intend to invest in new AI technology, 43% are focused on upskilling their existing workforce to harness the potential of AI effectively. This divergence in approaches reflects organizations’ diverse strategies to incorporate AI into their operations. Long-term returns on AI investments Many CEOs take a long-term view of their AI investments, expecting to see returns within three to five years. Only 23% express confidence in reaping rewards within a shorter timeframe of one to three years after investing in new technology or upskilling their staff. This longer investment horizon indicates that many CEOs see AI as a transformative technology with the potential for substantial, lasting impacts on their organizations. Fueling the AI appetite Several factors are fueling the growing appetite for generative AI among CEOs. One key driver is the need for cost savings and operational efficiency. Generative AI tools such as ChatGPT and Bard are making their presence known in corporate America, with thousands of employees relying on them to handle mundane and repetitive tasks. These tools streamline operations, freeing up employees to focus on more strategic and creative endeavors. Carl Carande, KPMG Global Head of Advisory, highlights the importance of CEOs harnessing generative…
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