Recent advances in artificial intelligence have the potential to revolutionize the way businesses operate. But how is this trend being perceived and implemented in the corporate world? To shed light on this question, global professional services firm KPMG conducted a survey on Generative AI, exploring its perception, strategic intent, application, and impacts.
Global Adoption of Generative AI
KPMG’s recent survey indicates a growing trend towards the adoption of Generative AI in businesses around the globe. 75% of respondents believe that Generative AI will have a substantial impact on their business within the next three years, while 90% regard AI as vital for their digital transformation strategy.
Harnessing AI to Drive Business Value
Many organizations have begun to leverage the transformative power of Generative AI. For instance, 36% of surveyed businesses are using AI to generate new insights, 34% to automate decision-making, and 30% to deliver personalized experiences for their customers.
Overcoming Challenges and Risks in AI Implementation
Despite the enthusiasm for Generative AI, businesses also acknowledge the risks and challenges. Security and data privacy concerns top the list, followed by ethical considerations and the challenge of explaining AI decisions. But with strategic planning and careful risk management, companies can mitigate these risks and tap into the immense potential of AI.
A Bright Future for Generative AI
The findings of KPMG’s survey underscore the potential of Generative AI to reshape business landscapes. As more organizations understand and harness the power of AI, it’s likely that we’ll witness a surge in innovation and new business models.
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