Genpact’s has released a novel report, released alongside its HFS survey of over 550 senior executives across 12 countries and 8 industries, titled “Two-Year Countdown to GenAI AI: How Companies Increase GenAI Adoption and Avoid the Productivity Trap” The report presents a two-year window to realize the benefits of generative AI before unfavorable competitive conditions arise.
Here are some highlights from the report:
- The role of Gen AI in creating value – Investment in Gen AI technology is expected to grow by 27% over the next 12 months. With 61% of leaders currently allocating just 10% of their technology budgets to AI initiatives, what does the future hold?
- Opportunities for improvement in adoption: Only 5% of enterprises have achieved mature GenAI initiatives, signaling room for growth.
- 35% of leaders prioritize productivity and efficiency in terms of key business benefits, but may be overlooking employee engagement: The highest rated challenges or threats if the market puts too much emphasis on productivity include employee dissatisfaction/burnout/decreased morale (44%), followed by organizational reputation and stakeholder trust (38%).