Acceptance of AI will deepen further
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Many people are concerned about the impact of generative AI. Business leaders are similarly concerned. But they also believe the benefits far outweigh the downsides. Will the details involved in AI implementation, let alone organizational politics, dampen such optimism?
The attitudes of 1,000 executives towards this disruptive force were tracked in a new Capgemini Labs report based on a survey conducted in April 2023. Nearly three in four, 74%, believe the benefits brought by generative AI outweigh their concerns. A similar amount is likely to boost earnings, he said.
Still, the report’s authors report that it is recognized that “organizations are hitting roadblocks” before revenues can flow in. “The lack of clarity, potential for bias, and lack of comprehensiveness in the data underlying pre-trained models poses legal and reputational risks to organizations,” they warn. Further stumbling blocks are concerns about piracy, AI “hallucinations,” and “even custom-built internal models can leak data.”
One of the biggest concerns about generative AI is that it could replace people in the workplace. Management does not see it that way. Rather, we are bullish about how AI can improve employee performance and workplace flow. “Generative AI has the potential to transform jobs,” said the report’s authors. Most executives (70%) see this as a way to broaden the reach of their knowledge workers, “giving them the freedom to explore more strategic aspects of their jobs.” increase.
New roles are also emerging. 69% of executives believe new roles will converge around generative AI, such as AI auditors and AI ethicists. Similarly, 68% believe that integrating technology into the workforce will require significant investment in upskilling and cross-skilling people. “Employee roles will shift from ideation and creation to review and refinement as generative AI will begin to provide project concepts and early designs, according to 69% of companies.”
Management feels that customers could benefit as well. More than 7 in 10 expect AI to make the customer experience more interactive and engaging, or to improve customer service through automated and personalized support.
Management is even more bullish on its outlook for the next three years. They calculate that this will increase sales by 8% and reduce costs by 7%. In addition to this, the surveyee responded that he could expect a 9% improvement in both customer engagement and satisfaction and operational efficiency.
Indeed, optimism abounds. I’m not even worried about the impact of AI on business models. A majority of executives (67%) do not believe generative AI will significantly disrupt their business models. Still, the report’s authors advise stepping into the AI realm with open eyes. “Also, deployments need to take a human-centric approach, incorporate human oversight and user feedback, and train employees. We recommend that you develop a set of guidelines for building trust in your system.”
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