CEOs leverage Gen-AI in organisational planning

52% say it shapes competitive positioning.

Over 7 in 10 (71%) of CEOs are leveraging generative AI (GenAI) in their organisational planning and decision making, according to a survey by KPMG which polled 225 senior executives. 

Over half (52%) say it shapes competitive positioning whilst 47% say it opens new revenue opportunities.

The main reasons for developing GenAI solutions include cost savings and a strong return on investment (63%), customisation of solutions (52%), securing intellectual property rights (41%), and the ability to quickly prototype and iterate (41%).

When it comes to executive leadership of GenAI strategies, 8% say they have already assigned a chief AI officer position whilst 37% plan to do so.

As for the workforce, the survey found only 16% are equipped and capable for GenAI utilisation, whilst 78% are moderately equipped. Over two-thirds (69%) are currently training their current workforce in GenAI, and 61% are actively hiring new talents.

Leaders also reported that employees are more efficient with GenAI in strategic planning and decision making (43%), creative and innovative projects (40%), and learning and skill development (40%). 

Additionally, respondents have raised concerns about working with external partners for GenAI with primary worries of data privacy and security risks (76%), reliance on a partner's expertise and resources (58%), and the potential for non-compliance with regulations (52%).

In terms of future plans, 24% intend to integrate GenAI into their business processes and strategies, 61% plan to expand to current initiatives, 55% aim to introduce it to new business functions, and another 55% are focused on upskilling employees to prepare for these changes.