According to a survey conducted by National Research Group for Google Cloud, the majority of business leaders who were polled have experienced a positive return on investment (ROI) from their generative artificial intelligence (GenAI) technology deployments.
The survey, which targeted more than 2,500 upper-level, senior executive, and C-suite business leaders globally with revenues exceeding $10 million, found that 63% of respondents reported that GenAI directly contributed to business growth. Additionally, 77% of those who experienced business growth attributed improved leads and customer acquisition to their use of GenAI.
Furthermore, the survey revealed that 80% of organizations were able to transition a pilot GenAI project into production in under six months, with 86% of those reporting an increase in annual revenue of 6% or more as a result.
Carrie Tharp, vice president of global solutions and industries at Google Cloud, emphasized the importance of executive support and alignment in driving successful AI strategies that are aligned with core business goals.
Among the surveyed organizations, 45% reported improved IT processes and staff productivity due to GenAI, with 85% of those organizations also noting an enhancement in user engagement. Moreover, 56% of organizations believed that GenAI had helped them improve their security measures.
Overall, the survey highlighted the growing importance and potential of GenAI in transforming businesses and driving revenue growth. British businesses, in particular, were noted for embracing GenAI’s transformative power, but the successful scaling of AI technology across enterprises requires a clear strategy, strong leadership, and the right technological foundations.