Nearly 90% of business leaders believe generative artificial intelligence is a strategic priority and critical to staying competitive. However, according to a report by HFS Research in collaboration with Tech Mahindra, only 35% are actively implementing generative artificial intelligence, 36% are in the proof-of-concept or pilot phase, and 17% are still in the planning stages.
Based on a survey of 260 business leaders, the study highlights the transformative potential of the AI generation for businesses and offers insights into how companies can move from a visionary “dreamer” mindset to a practical, implementation-focused “doer” mindset.
All leaders surveyed said their companies will introduce and expand the scope of gen AI into their IT programs within the next 12 to 18 months, with 39% saying gen AI will be introduced into more than half of their IT programs in that same time frame.
The report highlighted that adopting a proactive “doer” mindset can move companies beyond the POC phase and pilot projects to enable full production deployment of Gen AI. Compared to companies still in the planning stage, companies adopting this approach are five times more likely to achieve a functional Gen AI deployment, demonstrating tangible benefits.
The report also urged business leaders to grasp the potential of third-generation AI while managing the associated risks, costs and compliance considerations, highlighting the urgent need to be proactively engaged in a rapidly evolving technology environment.
“Gen AI is transforming businesses by automating tasks, enhancing content creation and improving productivity. This report highlights the strategic imperative for enterprises to embrace Gen AI and unlock endless possibilities,” said Mohit Joshi, CEO and Managing Director, Tech Mahindra.
Below are some key insights from the study:
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Currently, roughly one-third of companies have a hands-on “doer” mindset towards next-generation AI adoption, while the rest are still in the planning or “dreamer” stages.
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Nearly two-thirds of Doers are investing in new resources and operational improvements.
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To accelerate the adoption of next-generation AI, it's important to clarify the return on investment, address risks, and prepare the data and talent.
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A hands-on approach to business, cost, and technical expertise and support were ranked as the top three most important attributes when working with Gen AI and AI service providers.
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Visionaries are around 50% more likely to seek a strategic vision from their service provider, while Doers require significant delivery capabilities and a willingness to share risk and reward.
