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### CEOs Embrace a “Wait and See” Approach Amid Conceptual AI Excitement

A new report from Boston Consulting Group found that nine out of ten executives are holding off on …

Gary Shapiro, the Chief Executive Officer of the Consumer Technology Association, has shared insights on the impact of artificial intelligence on The Claman Countdown.

Despite the buzz surrounding the potential enhancements that advanced artificial intelligence tools like ChatGPT could bring to various industries, a significant number of business leaders are hesitant to fully embrace these new technologies.

Recent findings from the Boston Consulting Group (BCG) reveal that 90% of managers are opting for a cautious “wait and see” approach, either postponing the exploration of GenAI or conducting limited trial runs.

Business executives disclosed to BCG that they are either entirely postponing the integration of GenAI or sporadically dabbling in its usage.

Nevertheless, although there seems to be notable resistance towards implementing GenAI, the research also indicates a growing acceptance of the technology. Since July 2023, where over half of the respondents expressed disapproval of such tools, 95% now acknowledge and permit the use of AI and GenAI in their workplaces.

However, only a mere 6% of the surveyed companies claimed to have successfully trained more than a quarter of their workforce on GenAI tools.

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So, what does this signify?

Vlad Lukic, the global leader of BCG’s Tech & Digital Advantage practice, remarked, “Most CEOs are biding their time for GenAI to move beyond the current hype, as they lack teams equipped with the necessary expertise to drive this transformative change, as well as the appropriate guardrails for managing its deployment.”

Lukic further explained to FOX Business, “Simultaneously, they are deciphering solution roadmaps from various software vendors to differentiate reality from exaggeration.” Consequently, executives might continue investing more resources in honing their proficiency with this technology.

As per the study encompassing 1,406 professionals worldwide, corporate leaders are gearing up to escalate their investments in AI this year.

Among the respondents, individuals from the Middle East exhibited the highest inclination (93%) to amplify their companies’ AI or GenAI investments in 2024, followed by 86% of Europeans.

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In addition, 85% of participants from the Asia-Pacific region, as well as 85% of North American respondents, 82% from Africa, and 75% from South America expressed similar intentions to follow suit.

Moreover, there was a notable trend observed concerning public software acquisitions.

According to a recent investigation by the Boston Consulting Group, a significant majority of managers are also opting to defer the implementation of GenAI in their organizations, choosing instead to “wait and observe.”

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Last modified: January 12, 2024
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