Survey reveals how many employers in 12 countries are making progress in implementing a generative AI strategy
While the majority of companies are making progress when it comes to implementing their generative artificial intelligence (GenAI) strategy, far fewer IT decision-makers (ITDMs) are seeing positive results, according to a recent report.
Overall, 43% of ITDMs say that they have made significant progress executing their AI strategy while 42% say they have made some progress in this area, reports IBM Canada.
When it comes to implementing the plan, 41% of ITDMs claim their employers are driven equally by ROI and innovation.
Meanwhile, 31% are more innovation driven and 28% are more ROI driven.
And less than half of ITDMs are seeing positive ROI from their AI investments.
And among those not currently achieving positive ROI from AI, few expect to see things turn to positive this year, finds IBM.
"This is a crucial year to pivot on AI adoption in Canadian organizations and our success hinges on strategic investments across models, platforms and supporting our people," says Deb Pimentel, president, IBM Canada and General Manager, IBM Technology Canada. "This study underscores the importance of open-source platforms, high-quality data, and a well-defined AI strategy to enhance productivity.”
Many HR teams are facing challenges when it comes to navigating an increasingly digital workforce and AI-driven technologies, according to a previous report.
Having an effective AI strategy is especially important, as 58% of ITDMs report that their company typically moves from pilot to full production in less than a year, according to IBM’s survey of 2,413 ITDMs in the US, Canada, Mexico, Brazil, UK, France, Germany, Spain, India, Singapore, Indonesia, and South Korea, conducted Oct. 30 to Nov. 13, 2024.
By the end of 2024, 71% of companies will have started more than 10 AI pilots. And more than half of Canadians ITDMs (56%) plan to increase AI investment in 2025.
"As organizations begin to implement AI at scale, many are placing greater stock in success metrics such as productivity gains, in part because traditional hard-dollar ROI have yet to show up on the balance sheets," says Maribel Lopez of Lopez Research. "Yet, they continue to rapidly advance their AI strategies, with no sign of slowing down. Companies seem to now recognize the value of defining specific use cases and optimizing AI projects. They are leveraging hybrid cloud strategies and open source to drive AI innovation and deliver financial returns."
Here are some strategies for successfully implementing GenAI, as Oliver Wyman’s Chief Knowledge Officer Ana Kreacic and Managing Partner and Global Head of Capabilities Managing Partner and Global Head of Capabilities share in a World Economic Forum piece:
“The bottom line: Businesses that commit to a deep AI transformation have the best results — those that don’t risk being left behind,” they say.
The share of job advertisements that mentioned GenAI or related terms has surged, according to a previous Indeed report.