AI and specifically Generative AI may be a new and unregulated technology, but according to our recent report, IT leaders are ahead of other colleagues in their understanding and the great majority feel positive about the potential benefits it can bring to their organisations.
Report findings are based on the 2024 IT Leaders in the Eye of the Storm report, collecting perspectives from ~1500 UK based IT leaders. In this blog, we'll delve into these findings and discuss the outlook for the year ahead.
IT leaders and AI
Not surprisingly, our survey finds that IT leaders are ahead of the curve and 37% are already using AI at work, compared to 29% of respondents across all job functions in our main Trends Report.
A further 48% say they are researching AI tools for their business, which indicates that IT leaders are not just adapting to the AI revolution, but actively seeking out ways to leverage it for business growth and strategic advantage.
Of those who haven’t begun using AI, 45% of IT leaders say they are concerned about the risks to the business of using AI, compared to 33% average for all job roles. This is likely because IT leaders are responsible for cyber security and much of AI is still unknown. Just as AI has the potential to power good, it can also be used for illegal and malicious activity, and IT experts recognise the increased threat from AI-driven data breaches and other cybercrime.
Generative AI: A Paradigm Shift
One of the most transformative developments of recent times has been the emergence of Generative AI (GenAI). GenAI, a subset of artificial intelligence, has been increasingly prevalent due to its ability to create new models, patterns, and possibilities. It's not just an upgrade; it's a paradigm shift. From designing new products to creating realistic computer-generated images and text, GenAI is redefining what machines can do. However, this powerful technology is not without its uncertainties and challenges.
Our survey found that 38% of IT leaders describe themselves as ‘very’ positive about the emergence of generative AI and its potential impact on their business, saying they are fully prepared, and welcoming it as a significant opportunity for growth and innovation. Another 47% are a little more cautious, describing themselves as ‘somewhat’ positive about it, having an understanding of some of the implications of GenAI and are in the process of adapting their strategies accordingly.
We might expect people’s confidence in this new technology to grow as governments and specific industry bodies introduce more regulation and clearer guidelines for use. Overwhelmingly though, IT leaders tend towards the positives and just 3% of IT leaders say they feel ‘somewhat’ or ‘very’ negative about GenAI, with concerns about its implications for their business and are currently unprepared for integrating it. This tells us that IT leaders are ready for the challenge of working with this new technology and adapting their strategies to incorporate it. They see the potential rewards outweighing the risks, but acknowledge that there may be some hurdles along the way.
Looking at how GenAI is currently being implemented within organisations, 30% of IT leaders say they are actively using GenAI in all areas of their organisation, 41% are currently experimenting with GenAI in certain projects or departments, and 18% say they are in the planning stage of implementing it in the near future. These statistics demonstrate the increasing recognition among IT leaders of GenAI as not just a novel tool, but a key driver for operational efficiency, competitive advantage, and business transformation.
The Future of AI
Overall, our report confirms that IT leaders are at the forefront of embracing and implementing AI, specifically Generative AI, within their organisations. They have a deep understanding of its potential benefits and challenges, and are actively seeking ways to leverage this technology for business growth and innovation. With the increasing number of regulations and guidelines being put in place around AI, we can expect to see a continued positive outlook from IT leaders towards this rapidly evolving technology. As GenAI continues to push boundaries and redefine what machines are capable of, it will undoubtedly continue to play a crucial role in shaping the future of organisations across all industries.
Want to learn more? Watch our on-demand webinar ‘ChatGPT & Generative AI, the revolution begins’ where experts discuss the latest developments in generative AI technology, showcase applications and use cases, and highlight key areas to focus on when preparing for its opportunities and challenges.