Top company CEOs are in agreement—today’s leaders in artificial intelligence (AI) will be tomorrow’s industry leaders.
Key Details
- AI has taken off in the last six months, and a recent IBM study found that 75% of global CEOs believe today’s AI leaders will have a competitive advantage in the future.
- Businesses that have stayed ahead in new technology and research have always edged ahead of the competition, but generative AI opened up a new world of possibilities.
- Companies have invested in cloud computing, machine learning, and data collection. However, ChatGPT offers an intuitive, easy way for CEOs to access information.
- Even though CEOs are interested in advancing AI, their teams are less excited. Only around 30% of team members think their company is ready to embrace AI, Fortune reports.
Why it’s news
Company leaders are ready to embrace AI, but their teams are less prepared. Only around 30% of team members think their company is ready to transition to AI usage, and just 29% think they have the skill set to use AI.
“There’s a significant disconnect between what the CEO says and what their team says,” IBM’s Jesus Mantas says.
CEOs are excited and ready to embrace the new technology and its benefits, but their staff is more cautious. AI still has many limitations, notably its propensity to “hallucinate” or make up data. AI works by predicting the most likely answer based on the data it has been trained with. If an AI does not know the answer, it will hallucinate rather than say it does not have that information, Fortune reports.
Even with the limitations of AI, its benefits are tempting. When used correctly, AI has the potential to dramatically improve productivity—something most CEOs are excited about.
Questions also remain about how AI usage will affect employment. CEOs are fairly divided on this issue. Around 46% have hired more workers because of generative AI, while 43% have reduced their headcounts, Fortune reports. In the next year, 26% expect to hire more employees, and 28% think they will hire less.
