CEOs Eager to Place Big Bets on AI in 2024 Despite Uncertainty
CEOs worldwide are eager to make big investments in generative AI in 2024 to stay competitive, but face challenges around uncertainty and integrating AI initiatives.
Summary
- 99% of CEOs surveyed plan to invest significantly in generative AI soon.
- 68% feel held back by uncertainty around AI and have struggled to act quickly.
- 92% have made some progress on key AI use cases in the past year, but over 80% say more work is needed to finalize integration.
- Most CEOs think it will take 3-5 years for AI to redefine their business, operations, and drive growth.
- M&A appetite is at a 9-year low as CEOs focus more on organic AI investments than acquisitions.
- Identifying credible AI partners and targets has become harder with many companies now claiming AI expertise.
- CEOs recognize the huge potential of AI to drive productivity and transform sectors, but some still grapple with how to proceed.