Nine Of Ten Enterprise Leaders Consider Gen AI A Strategic Priority: Report
The report also urged enterprise leaders to grasp gen AI's potential while managing associated risks, costs and compliance considerations.
Almost 90% of enterprise leaders consider generative artificial intelligence a strategic priority and essential for staying competitive. However, only 35% are actively implementing gen AI, 36% are working on proof-of-concept or pilot stage, while 17% are still in the planning stages, according to a report by HFS Research in collaboration with Tech Mahindra.
The survey-based study of 260 enterprise leaders underscored the transformative potential of gen AI for businesses and offers insights on how enterprises can shift from a visionary “dreamer” mindset to a practical, implementation-focused “doer” mindset.
Every leader surveyed stated that gen AI would be deployed within their IT programmes within the next 12-18 months and that its application will be widespread, with 39% saying it will be in more than half of their IT programmes in the same timeframe.
The report emphasised that adopting a proactive "doer" mindset can drive enterprises beyond POC stages and pilot projects, enabling full operational deployment of gen AI. Compared to those still in planning stages, enterprises embracing this approach are five times more likely to achieve functional gen AI deployment, showcasing tangible benefits.
The report also urged enterprise leaders to grasp gen AI's potential while managing associated risks, costs and compliance considerations. It stressed the urgency of proactive engagement in a rapidly evolving technological landscape.
"Gen AI is transforming businesses by automating tasks, enhancing content creation and boosting productivity. This report underscores the strategic imperative for businesses to embrace gen AI and unlock limitless possibilities,” said Mohit Joshi, chief executive officer and managing director, Tech Mahindra.
Below are some key insights from the study:
About a third of businesses currently possess a practical “doer” mindset for gen AI adoption, while the rest are still in the planning or “dreamer” stages.
Close to two-thirds of “doers” are investing in new sources of value and operational improvements.
Accelerating adoption of gen AI will come down to clarity on return on investment, addressing risk, and getting data and people prepared.
A practical approach to business value, cost and technical expertise and support were ranked as the top three most important attributes when engaging with gen AI and AI service providers.
“Dreamers” are nearly 50% more likely to seek a strategic vision from service providers, while doers demand critical delivery capabilities and a willingness to share risks and rewards.
