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Accenture STUDY : 85% of companies are confident they will achieve the expected outcome from their investments in Generative Artificial Intelligence in 2024
Business leaders are increasingly optimistic about generative artificial intelligence, with 85% believing their organizations will regain their investments in Generative AI during 2024, according to Accenture's (NYSE: ACN) Pulse of Change report for CxO.
While the outlook for business growth in 2024 is generally positive, the study shows a growing discrepancy between the optimism levels of top business leaders. While 38% anticipate strong growth for their organizations, compared to 26% six months ago, the percentage of leaders predicting any growth has dropped by 20%.
"The huge potential of generative artificial intelligence to change the way companies operate is increasingly evident, and this is reflected in the rise in optimism among business leaders. However, to take full advantage of this opportunity, it is essential that organisations invest not only in technology but also in reskilling their workforce. Accenture can support companies on this journey, providing innovative and customised generative artificial intelligence solutions alongside talent development programmes," said Raluca Burghelea, country managing director Accenture Romania.
Focusing on technology investment, the study reveals that 78% of organisations plan to slightly increase their technology investment as a percentage of revenue in 2024. Notably, there is a focus on investing in generative artificial intelligence, with 85% of organisations prioritising such investments and 60% focusing on strengthening their digital core. However, CEOs express concern about adapting to technological advances by 2024. Currently, only 10% of organisations have achieved widespread adoption of generative artificial intelligence across their company, and only 13% express "utmost confidence" in their data strategy and digital capabilities.
Some 60% of organisations are implementing emerging technologies such as generative AI to boost employee productivity, yet only 33% are in the process of retraining their workforce to support this growth.
According to the survey, business leaders recognise:
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3 in 4 believe they need at least some level of training in generative AI, and 15% recognize the need for extensive training in this area.
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Only 35% of C-suite leaders say they personally use generative AI tools at least once a week, down from 61% just six months ago.
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More than half say their organization needs intermediate-level training in generative AI first, while more than 40% see advanced training as the most important need.
The Accenture Pulse of Change for CxO survey was conducted online, gathering responses from more than 2,800 C-suite executives in their native language. The survey took place from February 8 to March 5, 2024, covering 20 countries, 19 industries and various corporate functions. Its purpose was to assess executives' perceptions of change and analyse the impact of business disruption.
About Accenture
Accenture is a leading global professional services company that helps the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale. We are a talent- and innovation-led company with approximately 742,000 people serving clients in more than 120 countries. Technology is at the core of change today, and we are one of the world’s leaders in helping drive that change, with strong ecosystem relationships. We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability. We are uniquely able to deliver tangible outcomes because of our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Song. These capabilities, together with our culture of shared success and commitment to creating 360° value, enable us to help our clients reinvent and build trusted, lasting relationships. We measure our success by the 360° value we create for our clients, each other, our shareholders, partners and communities.