The world has already witnessed the threat of GenAI to a great extent in recent months. Most of the AI-enabled cybercrimes target global corporations and government organizations. While the threat of GenAI lurks, business leaders remain focused on investing and strategic partnerships with leading AI companies across the world.
So will the threat of GenAI really stop investment in 2024? Or will AI advocates continue to push for investment regardless of the risks?
This report revealed this.
57 percent Thirty percent of US board leaders believe generative AI is the biggest threat to their business. In the UK, 49% rank it as a major priority, alongside cyber. But despite their hesitation towards generative AI, half of board leaders express serious concerns about a lack of innovation in their business.
“57% of US respondents see AI as a direct threat to their business, higher than any other major country. Are US companies more sensitive to this very real issue than their European counterparts? If so, there's a lot of work to be done to put in place the systems, processes and talent to address the issue,” said John Altieri, associate director of technology at Investigo. “Technology leaders need to ensure that colleagues across their organisations fully understand the importance of generative AI and how it will impact their business.”
The findings of this study are: Technology and the Boardroom The report was commissioned by Investigo through independent polling agency Censuswide and explores the biggest talent challenges facing 700 tech and non-tech C-level executives across the US, UK, Germany and the Netherlands.
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The report also highlights that 75% of US companies are prioritizing the hiring of AI experts to leverage advancements in AI technology in the business world, with one in five companies highlighting AI skills as a top focus area to mitigate risks.
Despite obvious concerns, two-thirds of board leaders believe the U.S. government is doing a good job handling the rise of AI.
Robert Woodhouse, director of technology at Investigo, commented: “Unless the head of technology has a seat at the board and is viewed as important to the company's success as the CFO or CMO, organisations will not be able to address the myriad technology threats currently facing their businesses, optimise costs or innovate more effectively.”
In fact, 16% of U.S. companies have no technology leaders on their boards of directors or executive committees.
Sustainability is another key focus area for executives, with 82% of executives in the US prioritizing sustainability as part of their technology strategy, compared to 73% in European markets.
Meanwhile, when it comes to building a diverse workforce, 48% of U.S. companies feel they are lagging behind in terms of diversity, compared with 38% of respondents overall.
In terms of working patterns, the US is moving to the office much faster than other markets, with 64% expecting to work in the office five days a week, compared to 37% in the UK and 48% overall.
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