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Companies are heating up on AI

April 24, 2024

Generative Artificial Intelligence has “invaded the corporate agenda at a speed unmatched by any previous technology”, a new Fortune survey in collaboration with Deloitte reveals. According to the poll, the majority of respondents are already implementing it to automate manual tasks and use AI to increase efficiencies.

Tech’s hottest trend is enjoying enthusiastic support in the boardrooms of Fortune 500 companies: CEOs reported increased implementation in eight out of nine areas polled compared with the previous survey. When asked what was the “next big thing” that could impact their business in the coming year, the largest share identified the productivity-boosting technology over other common responses, such as Politics.

How companies are using Gen AI

  • Automating manual tasks: 58% 
  • Improving efficiency: 56%
  • Automating content generation: 50%
  • Reducing operational costs: 45
  • Writing new code: 42%
  • Accelerating innovation: 32%
  • Discovering new ideas or insights: 31%
  • Improving risk management: 22%
  • Identifying growth opportunities: 21%

“Notably, shifting workers from more menial tasks to higher-value ones is not a core benefit CEOs aim to achieve with gen AI, according to their survey responses. The data suggests they hope first and foremost the technology will cut costs and empower workers to be more productive, closely followed by improving existing products and services,” highlights Fortune journalist Robert Stevens. 

Source: Fortune