A new IBM study reveals that 82% of European business leaders are set to deploy generative AI, but concerns around ethics, governance, and skills persist. How can CMOs navigate this situation and ensure responsible AI adoption?
AI: The New Frontier for European Business Leadership
The year 2023 marked a turning point in the business world as generative AI took center stage. While consumers marveled at its creative potential, forward-thinking business leaders recognized its transformative power.
A recent IBM study, “Leadership in the Age of AI,” surveyed over 1,600 senior European executives and found that 82% have either deployed or plan to deploy generative AI in the coming year. This widespread adoption is driven by a desire to modernize operations, enhance customer experiences, and boost sales.
The Pressure to Innovate and the Need for Responsible Leadership
The pressure to embrace AI is coming from all directions: employees, board members, and investors alike. They see AI as a key to unlocking new efficiency, innovation, and growth levels.
However, this rapid adoption also raises concerns about ethics, governance, and the need for new skills. The study found that 96% of executives are actively shaping ethical and governance frameworks for AI deployment, recognizing the importance of responsible AI use.
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Navigating the Challenges of AI Adoption
One of the main challenges identified in the study is the need for clear regulatory guidelines. While 91% of respondents reported a good understanding of the regulatory context, only 54% felt clear about its implications for their businesses.
It highlights the need for ongoing collaboration between businesses, policymakers, and industry experts to establish a clear and effective regulatory framework.
Upskilling the Workforce for the AI Age
Another challenge is the need for new skills. The study found that 95% of leaders are taking steps to ensure their organizations have the right AI skills, primarily by upskilling their existing workforce. This continuous learning and development focus is crucial for staying ahead in the rapidly evolving AI landscape.
Food for Thought
The key to successful AI adoption lies in building trust. Meaning, to ensure that AI systems are transparent, explainable, and used to augment rather than replace human workers. It also means establishing robust governance frameworks to ensure responsible and ethical AI use.
- As a CMO, how are you preparing your organization for the AI revolution? Are you actively shaping ethical and governance frameworks for AI deployment?
- How are you addressing the need for new skills within your marketing team? Are you investing in upskilling your existing workforce or looking to hire new talent?
- What steps are you taking to build trust with your customers and stakeholders regarding your use of AI? Are you transparent about how you use AI and the measures you have in place to ensure its responsible use?
References
- IBM (2023). Leadership in the Age of AI.
