To read this content please select one of the options below:

Managing the emerging role of generative AI in next-generation business

Jacob Dencik (Chief Economist and Sustainability Leader for IBM Institute for Business Value (IBV), based in Belgium (jacob.dencik@be.ibm.com))
Brian Goehring (Associate Partner and AI Research Leader for IBM IBV, based in the U.S. (goehring@us.ibm.com))
Anthony Marshall (The U.S., is Senior Research Director of Thought Leadership for IBM IBV (anthony2@us.ibm.com))

Strategy & Leadership

ISSN: 1087-8572

Article publication date: 30 August 2023

Issue publication date: 31 October 2023

2190

Abstract

Purpose

Since the release of ChatGPT by OpenAI in November 2022 – with its ability to create compelling, relevant content, new large language model (LLM) technology – business leaders, especially CEOs, are being pressured to accelerate new generative AI investments. IBM IBV surveyed executives to assess their progress and concerns and their adoption strategies.

Design/methodology/approach

Adoption of generative AI is still in its very early stages. Most organizations are only beginning to figure out how and where to make use of it. In fact, as few as 6 percent of executives in new surveying conducted by the IBM Institute for Business Value say they are operating generative AI in their enterprise today.

Findings

In contrast to many peoples’ expectations about AI, automating tasks is not the top priority for executives looking to tap generative AI to grow business value. Looking at benefits by function, research and innovation is the primary area where organizations see opportunities for generative AI.

Practical implications

IBM IBV's recent survey of executives found that the key barriers to the effective deployment and use of generative AI are linked to security, privacy, ethics, regulations and economics – not access to the underlying technology itself.

Originality/value

Organizations will have to evaluate where in their enterprise the potential gains and cost efficiencies outweigh the risks of possible errors or unintended consequences from the use of generative AI along with broader ethical considerations. Ecosystems expand generative AI opportunities to harness data, insights and technology capabilities from across partners and stakeholders while enabling control over the capabilities that are most central to an organization’s value proposition.

Keywords

Citation

Dencik, J., Goehring, B. and Marshall, A. (2023), "Managing the emerging role of generative AI in next-generation business", Strategy & Leadership, Vol. 51 No. 6, pp. 30-36. https://doi.org/10.1108/SL-08-2023-0079

Publisher

:

Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

Related articles