Narayan AmmachchiA new global survey by PwC revealed a disconnect between businesses’ investment in generative AI and their ability to achieve desired outcomes.
Nearly all 600 executives surveyed by PwC confirmed their companies are investing in the technology. However, only 20% reported widespread use across operations and supply chains.
Roughly 59% of respondents cited a lack of qualified personnel to effectively implement and adapt to the rapidly evolving technology. This challenge is further compounded by the fast pace of advancements in AI itself.
To address this shortage, 64% of respondents are resorting to outsourcing specific functions to external vendors. However, the implementation of generative AI appears fragmented, lacking a unified strategy across various operational areas such as employee training, talent acquisition and service delivery.
Despite these hurdles, companies remain optimistic about the potential of generative AI for automation and data analysis. Nearly half of the respondents plan to invest further in digital solutions to ensure compliance with cybersecurity, data privacy and quality and safety regulations.
The evolving digital landscape is prompting a shift in executive priorities. Investing in human capital takes precedence over workforce reductions. PwC’s survey shows a strong emphasis on measures like upskilling employees on digital technologies (87%), recruiting talent with digital expertise (84%) and retraining existing employees for new roles (80%).
These initiatives aim to bridge the skills gap and optimize the use of generative AI within organizations.
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