7th August 2023, Kathmandu
Innovative Generative AI Technologies Garner Enthusiasm While Posing Challenges.
A recent report from the Capgemini Research Institute unveils that a substantial 74% of executives are optimistic about the benefits that Generative AI can bring, even as concerns linger. Generative AI, a technology capable of creating content such as chatbots, product designs, and enhancing customer experiences, is poised to revolutionize industries across the globe.
Key Insights from the Report
Japanese Organizations Embrace Generative AI: The report showcases that 38% of Japanese organizations have already established dedicated teams and budgets for Generative AI, with 55% planning to follow suit within the next year. This proactive stance highlights the growing interest in this transformative technology.
Anticipated New Roles and Challenges:
A significant 72% of Japanese executives believe that Generative AI will create new job roles, such as prompt writers, indicating a shift in how businesses interact with AI-generated content. However, only 64% of these executives believe that the benefits outweigh potential risks, underlining the need to address concerns.
Relevance of Generative AI Tools:
Across industries, organizations find Generative AI tools highly relevant. Chatbots for customer service automation and knowledge management are deemed critical by 83% of executives, while 75% consider tools for data design and summarization important.
Driving Revenues and Transformation:
Despite perceived risks like copyright infringement and cybersecurity, 74% of executives firmly believe that the benefits of Generative AI will outweigh concerns. This conviction is bolstered by the potential for a projected 8% sales increase, a 7% cost reduction, and an impressive 9% improvement in customer engagement, satisfaction, and operational efficiency.
Human-Centric Approach to Scaling:
Franck Greverie, Chief Portfolio Officer and Group Executive Board Member at Capgemini emphasizes the need for a human-centric approach to scaling Generative AI. While this technology holds immense potential, fostering trust in the workplace and implementing sustainable guidelines remain critical.
High-Tech Industry Leading Integration:
The high-tech industry stands as a frontrunner in Generative AI integration, with 84% of its executives anticipating a positive overall impact. Around 70% have ongoing Generative AI pilots, showcasing the sector’s forward-looking approach to technological innovation.
New Roles and Upskilling:
The rise of Generative AI is expected to create new roles, such as AI auditors and ethicists. This shift in the job landscape will necessitate significant investment in upskilling and cross-skilling of talent.
Sustainability Imperative:
Approximately 80% of organizations understand the need to implement and scale Generative AI sustainably. However, the report highlights the call for more concrete efforts toward sustainability, with only 8% of organizations planning to train their own models taking steps to mitigate their environmental impact.
As organizations worldwide embrace the transformative power of Generative AI, its potential to drive innovation, improve customer experiences, and reshape industries remains at the forefront. The report underscores the importance of addressing challenges while harnessing the immense possibilities this technology presents.
