Executive Summary

For more than a year now, generative AI technology has dominated news cycles, supercharged the value of AI companies, and driven company strategy sessions. Despite this spotlight, significant questions remain about how this technology works and how business leaders can harness its full potential.

As a pioneer in the application of generative AI to enterprise business processes, Icertis commissioned a survey to better understand how c-level executives across 500 large enterprises in the US and UK are thinking about generative AI in 2024 and beyond.

The results reveal that AI’s impact is here: Leaders expect bottom lines to be affected, competition to become fiercer, and workforces to be transformed, all in the coming months, not years. Yet they also demonstrate that leaders are highly attuned to the ethical and data security challenges artificial intelligence presents.

Among the findings:

agree that AI will incite greater competition by minimizing gaps between competitors

of executives expect generative AI to impact their bottom line within the next five years

of the c-suite favors government regulations around AI that prioritize responsibility and ethics over the opportunity for innovation.

“This survey demonstrates the huge impact generative AI stands to have on how enterprises compete and win,” said Monish Darda, CTO and Co-founder, Icertis. “2024 will be a critical year as executives determine how they will differentiate themselves in this new market, and we hope this data proves useful to them as they build their strategies.”