Generative AI: The state of the market—where is the impact?

You can’t open a newsfeed without seeing articles about generative AI—ChatGPT, Google Bard, and other LLMs are everywhere, and they’re often positioned as a must-have. But exactly how and where will enterprises leverage this fascinating new technology?

To answer these questions and more, the IBM Institute for Business Value surveyed and interviewed C-suite executives about their plans to adopt generative AI, the benefits they expect, and the barriers holding them back.

Executives are eager to capitalize on generative AI, with more than 6 in 10 planning to pilot or operate in some way by 2024.

We found that organizations are typically implementing generative AI by three different priorities:
 

• Secure (64%)
• Engage (63%)
• Innovate (50%)

And they are quite serious about reaping benefits. 56% expect AI to improve their content quality, 51% expect to gain competitive advantage, and 51% expect to scale employee expertise, among many other aspirations.

But are enterprises ready to make the leap?

Almost 3 out of 4 CEOs believe their teams have the generative AI capabilities they need. But only 3 in 10 of their C-suite teams agree.

Intrigued by what’s to come? Download the data story to see how and where organizations plan to adopt the technology, expected benefits, and their three focus areas—complete with actions to excel.