Businesses are optimistic about implementing generative artificial intelligence (Gen AI) to disrupt industries, but they frequently misunderstand the requirements for its successful implementation and deployment, this is as per a global survey conducted by MIT Technology Review Insights.
Many businesses, especially those that already have expertise in deploying AI, lack faith in their IT capabilities, even if they recognise that Gen AI presents a greater opportunity rather than a threat.
In collaboration with Telstra International, the study polled 300 company executives from various industries and geographical areas.
The expectations of industrial disruption, the desire to be a disruptor, the limited use of Gen AI in 2023, and the ambitious goals for expanded adoption in 2024 are some of the key findings.
However, achieving the potential of Gen AI will be hampered by issues with IT, regulations, funding, and a lack of skilled workers.
Businesses need to invest in end-to-end capabilities, handle big datasets efficiently, and ensure ethical and responsible AI use if they want to fully capitalise on the revolutionary potential of Gen AI.
To read the entire research study, visit here.
