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News » Generative AI embraced by business leaders worldwide – INSEAD survey

Generative AI embraced by business leaders worldwide – INSEAD survey

FONTAINEBLEAU, FRANCE — A recent survey conducted by INSEAD involving over 1,200 alumni has shed light on the global business community’s perception of generative AI (GenAI). 

Capturing opinions just months after the explosive rise of AI tools like ChatGPT and DALL-E, the study reveals a strong uptake of GenAI across various industries, with a notable emphasis on its potential to enhance efficiency and democratize information access.

Two out of three respondents reported using generative AI tools in both personal and professional contexts. Slightly over half said their organizations had already integrated generative AI into business operations.

LexisNexis and Tata Consultancy Services (TCS) previously revealed that GenAI gains trust among global professionals and there’s optimism about its potential to reshape work dynamics. 

Perceived benefits and risks of GenAI in businesses

The primary appeal of GenAI, as noted by 90% of participants, lies in its ability to save time and alleviate humans from mundane tasks. Many also view it as societal progress that will improve lives.

However, 82% expressed concern about the “potential for people to misuse AI,” such as for surveillance, hacking, or violating privacy. 

“Nearly half reported being ‘more excited than concerned’ about the rise of AI, and 42 percent were ‘equally concerned and excited’. Only 9 percent felt ‘more concerned than excited,” the survey said.

Differing GenAI perspectives across regions

Respondents from Europe, Asia, and North America showcased varied attitudes towards GenAI. While all regions demonstrated enthusiasm, European respondents exhibited more caution, reflecting higher concerns about digital privacy and a slightly lower adoption rate of generative tools. 

Conversely, respondents from Asia and North America displayed greater eagerness to integrate AI into their workflow.

Organizational impact and future expectations

The survey also explored how GenAI is perceived in terms of benefiting organizations versus individual employees. 

“Respondents who said GenAI would benefit employees more than top leaders outnumber those that believed the reverse,” suggesting a belief that AI will “democratize access to information and improve efficiency for a wide range of jobs.” 

On the future of artificial general intelligence (AGI) with human-level capabilities, 27% predicted its emergence within five to ten years. Twenty-three percent said two to five years, while 18% said 10 to 20 years. 

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