Generative AI to dominate business decisions by 2025

Generative AI (Gen-AI) is anticipated to become the leading source of insight for enterprise-wide decision-making by 2025, according to international research launched by Stratio BD, a generative AI and data specialist.

The study surveyed C-suite executives and IT decision-makers, revealing the extent of Gen-AI's implementation and future potential in various industries.

The research indicates that 75% of IT decision-makers expect to increase their use of Gen-AI tools within the next 12 months, and 25% are planning to integrate Gen-AI into their core business processes within the next six months. This enthusiasm is echoed by 75% of tech leaders who expressed excitement about the increased utilisation of Gen-AI in their organisations. However, concerns over the accuracy and security of AI-generated data continue to hinder full-scale implementation.

Stratio BD's exhaustive survey aimed to map out the current state of Gen-AI adoption in multiple global markets. The research found that over a quarter of respondents intend to incorporate Gen-AI into their core processes within the next half-year. Furthermore, one-third of decision-makers believe their roles will be fully integrated with the technology within the next year.

The study shows a strong sense of optimism among data and business leaders about Gen-AI's transformative potential. Over three-quarters of those surveyed have a clear view of what Gen-AI could achieve for their organisation, and two-thirds concur that senior leadership is well-informed about how Gen-AI can benefit their business.

Despite this enthusiasm, actual implementation of Gen-AI remains behind organisational understanding. Only 29% of respondents reported that Gen-AI has already been integrated into their core processes. Additionally, over one in ten IT decision-makers disclosed that their business is either trialling Gen-AI with no plans for comprehensive implementation or have no plans to deploy it at all.

Scar Mndez, CEO and Founder of Stratio BD, remarked, "This disconnect between organisational understanding of Gen-AI and its active implementation shows that businesses are not yet fully accessing the true benefits of Gen-AI. Our research finds that almost all of those surveyed (99%) agree that organisations are actively missing out on opportunities by not using Gen-AI, particularly surrounding automation (63%), generating new ideas (59%) and optimising operations (52%). This could represent a significant competitive advantage, which business competitors may be swift to exploit."

One notable area highlighted by the survey was Gen-AI's ability to enhance business results when interrogating internal data, particularly in terms of time efficiency. For instance, three-fifths of those not using Gen-AI were satisfied with the time taken to complete data queries, whereas nearly everyone (92%) using Gen-AI reported being either very satisfied or satisfied.

Lingering concerns about security and accuracy still pose significant obstacles to the more comprehensive adoption of Gen-AI. The most frequently cited issue (38%) was whether the data produced by Gen-AI is sufficiently accurate to inform decision-making. This was followed by concerns over data quality and accessibility (31%) and apprehensions related to bias and privacy (28%).

Mndez continued, "These lingering worries over privacy and security remain despite the leaps forward which AI technology has recently made in tackling these issues. While concerns persist regarding data accuracy and quality for informed decision-making, our findings underscore the business imperatives for enterprise-level solutions that ensure the precision and security of Gen-AI generated data. Those responsible for AI and data insights within their organisations are very aware that without such measures, the transformative potential of this technology to feed business success will remain unrealised."

He added, "Stratio BD is at the forefront of this revolution. Not only does our Gen-AI product enable businesses to capitalise on the efficiency advantages of Gen-AI, but it also ensures that the data produced by Gen-AI is accurate and can be trusted to inform decision-making. The only obstacle that remains for business leaders when it comes to capitalising on the Gen-AI boom is the boundaries of their collective imaginations."