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AI is the talk of the town, but businesses are still not ready for it, survey shows

·1 min

Generative AI adoption in business lags behind the hype, with only 9% of surveyed business leaders significantly using the technology, according to a recent survey. Early adopters mainly deployed generative AI for automating repetitive tasks, but plan to expand its usage. However, several barriers hinder rapid adoption, including a lack of IT infrastructure and capabilities, strong governance structures, data privacy concerns, and regulatory compliance. Despite challenges, most business leaders anticipate a significant increase in the deployment of generative AI for various business functions by 2024. The potential benefits of the technology, such as its impact on sales, marketing, operations, and the economy, are widely recognized.