Playtime’s over: why gen AI is now an investment priority

Gen AI may still be the new kid on the block, relatively speaking, but it’s a megatrend that rivals the evolution of the internet itself – and it isn’t slowing down.

 

Our landmark new Global GenAI Report finds that the technology is proving its worth beyond the hype. Almost 70 per cent of all respondents are feeling optimistic about gen AI, and organisations across industries are starting to apply gen AI in ways that make a real difference in the lives of their employees and customers.

 

From experimentation to long-term strategies

 

Business leaders are turning their focus from experimenting with gen AI to exploring long-term use cases that transform business performance and workplace culture for the better. Almost all the leaders we surveyed have already invested in gen AI, while more than 80 per cent have established expert or robust gen AI teams.

 

Furthermore, nearly two-thirds of C-suite respondents expect gen AI to be a game-changer over the next two years, and plan to invest significantly in the technology.

 

However, only two in five respondents strongly agree that their existing gen AI solutions meet their needs. Clearly, there’s a need for reskilling and upskilling in organisations, or for partnering with expert service providers that will give them access to these skills.

 

As noted in the report, most CEOs view gen AI as transformational. The good ones are using it to create competitive differentiation.

 

Gen AI strategy is a global priority

 

The Global GenAI Report is a pivotal resource for organisations navigating the gen AI landscape.

 

For our primary research, we interviewed more than 2,300 leaders from organizations in 34 countries across North America, Europe, Asia-Pacific, Latin America, Africa and the Middle East. Respondents represent 12 industries, among them banking, investment and insurance, manufacturing, automotive, retail, healthcare and the public sector.

 

Of these respondents, 98 per cent had direct authority or influence over gen AI buying decisions.

 

The report shows gen AI is on track to augment human labour in a range of areas, with implications for business models in every industry. Organisations are increasingly using it to automate parts of the value chain, remove drudgery from human roles and rapidly improve processes.

 

In the report, we explore in detail how organisations are strategizing around gen AI and how it can transform their business operations. A key point from the report is alignment between GenAI and broader business strategies is paramount right from the start. Investing in gen AI without this alignment will fail to deliver ROI.

 

From technology to ethics: what organisations are doing

 

The report also looks at the underlying technology infrastructure that puts organisations on the road to gen AI success, the importance of building an expert gen AI team in an organisation (and what that team should like like), and adopting data-management practices and a cloud-native approach.

 

Our findings show that cloud computing is indispensable, as it provides the computing power and scalable infrastructure required for gen AI. More than 90 per cent of CIOs and CTOs are reviewing their network architecture in response to demand for gen AI, and a similar number agree that cloud-based solutions are the most practical and cost-effective way of supporting gen AI applications.

 

Responsible innovation: balancing ambition, sustainability and skills development

 

The report also explores high-priority topics such as the effect of gen AI on the workforce and organisational culture, and challenges relating to gen AI ethics, safety and sustainability.

 

While the democratisation of gen AI technology means nontechnical users can access and engage with these tools easily, we see a considerable gap in gen AI expertise, along with challenges associated with upskilling and reskilling.

 

The need for responsible innovation is paramount, as is balancing gen AI ambitions with an organisation’s sustainability goals. In the report, we discuss security concerns and data privacy issues relating to gen AI – challenges that must be addressed while implementing it in any organisation.

 

Position yourself for a gen AI future

 

Our Global GenAI Report serves as a beacon for organisations that want to succeed with gen AI – not least because their competitors are already doing do.

 

As we look to 2025 and beyond to identify the next notable gen AI developments, we also explain the value of a partnership with NTT DATA. Our end-to-end, full-stack portfolio means we’re uniquely well-placed to co-innovate on gen AI with our clients.

 

For a deeper understanding of these insights, and to learn how your organisation can effectively implement gen AI strategies, we invite you to explore the full report.

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Get your copy of the Global GenAI Report here

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By Carlos Galve and Kenji Motohashi, Co-Leads, NTT DATA Global GenAI Office