FINAL WORD
Europe includes United Kingdom , Ireland , Sweden , Norway , Finland , Denmark ; South West and Eastern Europe is France , Germany , Italy , Benelux , Spain and Poland ; and APAC encompasses Australia , China , Japan , United Arab Emirates , and Saudi Arabia .
Which departments inside organisations are using or planning to use GenAI ?
• Sales : 86 %
• Marketing : 85 %
• IT : 81 %
• Finance : 75 %
• Production : 75 %
Bryan Harris , Executive Vice President and CTO , SAS
The future of business is being reshaped by GenAI . Indeed , the integration of GenAI into business processes , from dynamic profiling in marketing to precision claims insurance , offers unparalleled opportunities for efficiency , personalisation , and strategic foresight . Embracing this technology is essential for staying ahead in a highly uncertain and unpredictable competitive market .
When split into industry segments , the data shows banking and insurance leading other industries in terms of incorporating GenAI into daily business operations across a variety of metrics .
Highlights from those findings are below .
How do specific industries rank in terms of fully implementing GenAI and fully implementing it into regular business processes ?
• Banking : 17 %
• Telcom : 15 %
• Insurance : 11 %
• Life sciences : 11 %
• Professional services : 11 %
• Retail : 10 %
• Public sector : 9 %
• Healthcare : 9 %
• Manufacturing : 7 %
• Energy and utilities : 6 %
Early adopters are finding plenty of obstacles in using and implementing GenAI . Number one on the list of challenges organisations face in putting GenAI to routine use is the lack of a clear GenAI strategy .
Only 9 % of leaders responding to the survey indicate they are extremely familiar with their organisation ’ s adoption of GenAI . Of respondents whose organisations that have fully implemented GenAI , only 25 % say they are extremely familiar with their organisation ’ s GenAI adoption strategy .
Even those decision makers responsible for technology investment decisions are not familiar with AI – including those at organisations that are ahead of the adoption curve .
Nine out of 10 senior technology decision makers overall admit they do not fully understand GenAI and its potential to affect business processes . At 45 %, CIOs lead the way with executives who understand their organisation ’ s AI adoption strategy . But only 36 % of Chief Technology Officers , say they are fully in the know .
Yet despite this understanding gap , most organisations , 75 % say they have set aside budgets to invest in GenAI in the next financial year .
As organisations adopt GenAI , they realise they have insufficient data to fine tune large language models , LLMs . They also realise once they are deep into deployment , they lack the appropriate tools to successfully implement AI . Organisations ’ IT leaders are mostly concerned about data privacy , 76 % and data security , 75 %.
Which industries indicate they already use GenAI daily to some extent ?
• Telcom : 29 %
• Retail : 27 %
• Banking : 23 %
• Professional services : 23 %
• Insurance : 22 %
• Life sciences : 19 %
• Healthcare : 17 %
• Energy and utilities : 17 %
• Manufacturing : 16 %
• Public sector : 13 %
Only a tenth of organisations say they are fully prepared to comply with coming AI regulations . One third of organisations that have fully implemented believe they can comply with regulations . Only 7 % are providing a high level of training on GenAI governance . And only 5 % have a reliable system in place to measure bias and privacy risks in LLMs .
Although there are obstacles , some early adopters have experienced meaningful benefits already : 89 % report improved employee experience and satisfaction ; 82 % say they ’ re saving operational costs ; and 82 % state customer retention is higher . p
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