Gartner Poll Finds 45% of Executives Say ChatGPT Has Prompted AI Investments
A recent poll conducted by Gartner, Inc. shows that 45% of over 2,500 executive leaders reported increasing their investments in Artificial Intelligence (AI) due to the publicity of ChatGPT. Additionally, 70% of executives are exploring and investigating generative AI, while 19% are piloting or producing generative AI solutions.
Gartner's Distinguished VP Analyst, Frances Karamouzis, noted, "The generative AI frenzy shows no signs of abating. Organizations are scrambling to determine how much cash to pour into generative AI solutions, which products are worth the investment, when to get started, and how to mitigate the risks that come with this emerging technology."
Despite the risks associated with generative AI, 68% of executives believe that the benefits outweigh them. However, as investments deepen, executives are said to be giving more thought to risk and implementation challenges. Organizations will likely encounter a host of trust, risk, security, privacy, and ethical questions as they start to develop and deploy generative AI.
The poll also found that customer experience was the most common primary focus of generative AI investments, with 38% of respondents citing it. Only 17% went for cost optimization as their primary purpose of generative AI investments.
As organizations begin experimenting with generative AI, many are starting with use cases such as media content improvement or code generation. However, generative AI has vast potential to support solutions that augment humans or machines and autonomously execute business and IT processes. Thus, CEOs and CIOs that leverage generative AI to drive transformation through new products and business models will find substantial opportunities for revenue growth.
For more information on Gartner's poll, "Beyond the Hype: Enterprise Impact of ChatGPT and Generative AI," visit Gartner's website.