In today's digital landscape, nearly half of all enterprises are fast-tracking their adoption of Generative AI, reflecting a significant shift towards embracing more sophisticated AI technologies to boost efficiency and foster innovation. The Deloitte AI Institute's latest report, "State of Generative AI in the Enterprise: Now Decides Next," unveils how businesses are not only leveraging these advanced tools to enhance productivity but are also reinvesting AI-driven savings into further innovation.
"Business leaders are zeroing in on how Generative AI can help them meet their goals for efficiency and cost savings and many are looking into reinvesting savings in innovation and growth use cases — it is clear getting to scale, accurately measuring progress and selecting the right use cases will be critical factors in achieving value generation. Although financial ROI is important, value drivers such as innovation, strategic positioning and competitive differentiation can be even more important," said Costi Perricos, Deloitte Global office of Generative AI leader.
One of the key findings is that talent readiness poses a significant challenge, with 37% of leaders acknowledging their organization's unpreparedness to tackle talent-related issues arising from Generative AI. However, in response, a striking majority of the surveyed leaders plan to revamp their talent strategies within the next two years. This includes modifying work processes and initiating extensive upskilling and reskilling programs. Furthermore, 39% of organizations anticipate increasing their workforce within the next year to support their Generative AI endeavors.
Recent surveys have also highlighted the significant impact of generative AI on automation and integration, as well as its role in driving positive ROI.
Building trust and transparency in AI
Trust in AI technology has markedly improved, with 72% of respondents noting an increased confidence in AI since the rise of Generative AI in 2022. Despite this growth in trust, measuring and enhancing worker trust and engagement with AI remains underemphasized, with only 36% of organizations actively doing so. Moreover, less than half of the respondents are significantly focused on establishing trust in Generative AI. Even so, the most experienced organizations are not deterred by these trust issues, instead prioritizing transparency and the quality of data inputs and outputs.
Pursuing efficiency and productivity
Enhancing efficiency and productivity continues to top the expected benefits of Generative AI adoption. While many organizations report partial success in realizing these benefits, those with advanced expertise in Generative AI are seeing substantial improvements. About 70% of these seasoned players report notable enhancements in their products and services, and 63% acknowledge significant strides in fostering innovation and growth.
The report highlights a swift progression in Generative AI adoption, with nearly half of the participants describing their adoption pace as fast. This number jumps to 73% among those with profound Generative AI expertise. These front-runners are not just experimenting—they are scaling up with increased investments in technology infrastructure and broader workforce engagement with Generative AI tools.
"As we move from possibilities to practicalities in enterprise Generative AI adoption, scaling up and skilling up go hand in hand – as evidenced by this quarter's findings. Organizations are hiring new talent and training their workforce, with both technical and human-centered skills remaining valuable to successful deployment. To help stay competitive in an ever-evolving market, it is crucial for leaders to foster trust and remain focused on AI fluency when evolving their workforce to meet this moment of transformation," said Deborshi Dutt, Artificial Intelligence Strategic Growth Offering Lead and Principal, Deloitte Consulting LLP.
In other news, Deloitte and ServiceNow have extended their partnership to merge Now Assist generative AI features with Deloitte's advanced managed services.
