In a recent survey, it was found that nearly two-thirds (64%) of CEOs believe that their organizations need to embrace rapidly changing technologies faster than their employees are able to adapt. The survey, conducted by the IBM Institute for Business Value in partnership with Oxford Economics, also revealed that 61% of CEOs are pushing for the adoption of generative artificial intelligence (GenAI) at a pace that some employees may find uncomfortable.
Although business leaders stress that GenAI technology is meant to support human employees, there is still reluctance among employees who fear being replaced by AI. To address this issue, IBM suggests that CEOs invest in training programs to help employees understand how GenAI can enhance their work and ultimately lead to increased adoption.
The survey highlighted the importance of people’s adoption of GenAI, with 68% of CEOs emphasizing the need for governance to be established for AI-based systems during the design phase. It was recommended that business leaders establish guidelines that integrate strategy, governance, and security to facilitate a smooth transition as organizations accelerate their transformation efforts.
While the CEOs recognized the significance of effective AI governance for building trust in AI within their organizations, only 39% reported having appropriate GenAI governance in place currently. This gap may be attributed to employees’ lack of clarity on their roles and responsibilities in the adoption of GenAI.
In order to drive growth through GenAI, it is crucial for CEOs to inspire their teams with a common vision and ensure that employees understand how strategic decisions impact them. Despite the ambitious goal of leveraging GenAI for growth by 2026, many organizations are still in the early stages of exploring GenAI pilots. To cultivate a culture of innovation, CEOs must communicate the value of GenAI to employees and emphasize their role in driving growth.