TECHNOLOGY | AI
APAC could potentially benefit more given the region ’ s willingness to invest in AI , the technology-driven economies , and its vibrant AI start-up ecosystem
You don ’ t need a survey to tell you Gen AI is top of the business agenda . It has been a year since ChatGPT burst onto the scene ( creators OpenAI launched it on 30 November 2022 ) and it quickly transitioned from gimmick to a genie in the bottle for business .
Suddenly , CEOs and CTOs were digging out their cheque books , clamouring to take advantage of the new technology and not get left behind – even if they were not entirely sure what to do with it . A year on , that situation remains , according to the latest EY CEO Outlook Pulse survey .
The quarterly survey of 1,200 global CEOs reflects the difficulties and the urgency that CEOs find themselves acting under when it comes to Gen AI . While more than two-thirds ( 70 %) see the need to act quickly on GenAI to avoid missing out , 68 % say they are being held back due to uncertainty around the pace of change .
Andrea Guerzoni , EY Global Vice Chair – Strategy and Transactions , says CEOs are making bold investments in the technology to future-proof their organisations ,
Andrea Guerzoni , EY Global Vice Chair for Strategy and Transactions
but the “ relentless hype ” around artificial intelligence has clouded their view of the landscape .
“ While CEOs agree their organisations need to act now on GenAI to avoid giving competitors a strategic advantage , they are also acutely aware of the uncertainty around GenAI ,” Guerzoni tells Business Chief .
“ That makes it challenging to develop and implement an effective AI strategy and move organisations up the AI maturity curve .
110 December 2023