The main takeaway from this research is that corporate leaders’ plans to use new technology to disrupt competition may face challenges that many executives underestimate, instead of being the ones to disrupt.
A majority of executives believe that generative AI will disrupt industries in the next five years. Most see this technology as a competitive opportunity rather than a threat, with many hoping to use it to unlock hidden opportunities from their data.
Despite high expectations, only a small percentage of companies went beyond experimenting or limited adoption of generative AI in 2023. However, companies are planning to significantly increase adoption in 2024, especially in customer experience, strategic analysis, and product innovation.
Companies need to address IT deficiencies to successfully deploy generative AI and avoid being disrupted. Non-IT factors like regulatory risks, budgets, competition, culture, and skills also hinder the extensive use of generative AI.
While executives expect generative AI to bring disruption, their ambitions may be at risk due to obstacles that their companies do not fully recognize.
This content was created by Insights, the custom content division of MIT Technology Review, and not by the publication’s editorial team.
