Generative AI (Gen AI), which can create human-like text, images and code, has sparked a global investment frenzy, with market researchers estimating the technology could add trillions of dollars to the global economy over the next decade.
But as organizations pour resources into Gen AI initiatives, they face a complex web of technical and ethical-regulatory challenges. Amid this mix of opportunity and uncertainty, Deloitte's latest quarterly report sheds light on the current state of Gen AI adoption in the enterprise, revealing both progress and persistent obstacles.
The survey, based on responses from 2,770 board- to C-suite-level executives across 14 countries, revealed that while organisations are dedicating increasing resources to Gen AI, they are struggling to scale and demonstrate value.
The report, “The State of Generative AI in the Enterprise: The Next Thing is Now,” found that 67% of respondents are increasing their investments in generative AI because they see value, but this effort is offset by obstacles such as data quality issues, investment costs, and regulatory uncertainty.
“We've arrived at a pivotal moment for generative AI, balancing leadership's high expectations with challenges like data quality, investment costs, effective measurement and an evolving regulatory environment,” said Jim Rowan, applied AI leader at Deloitte Consulting LLP.
Executive enthusiasm for next-generation AI wanes
One of the most striking findings is the declining enthusiasm of senior executives and board members. While 63% of senior executives and 53% of board members still indicate “high” or “very high” interest, this is down 11 and 8 percentage points, respectively, from Q1 2024. This likely reflects an increased awareness of the complexities that come with scaling Gen AI initiatives.
