CEO Decision-making in the Age of Artificial Intelligence
IBM Releases a report on CEO decision-making in the Age of Artificial Intelligence. IBM interviewed 3000 CEOs from over 30 countries and 24 industries, asking them their perspectives on leadership, business, and decision-making in the context of artificial intelligence.
The emergence of generative artificial intelligence provides CEOs with more advanced analytical methods, but it also brings challenges of uncertainty. The CEO’s decisions in the digital age are no longer immune to the influence of these emerging technologies.
CEO’s View on Artificial Intelligence
With the popularity in ChatGPT, artificial intelligence has become a commonly used term in communication between companies and relevant stakeholders (investors, regulators, media). The CEO group has a relatively optimistic attitude towards artificial intelligence, with 75% believing that advanced artificial intelligence will bring a competitive advantage to the company, 50% considering its application in products and services, and 43% using artificial intelligence to provide information for strategic decision-making.
In addition to actively exploring, some CEOs also expressed a few concerns. 57% believe that there may be conflictions with the security of data, while 48% question the accuracy of artificial intelligence data. Discussions on the pros and cons of artificial intelligence have also been repeatedly raised in public. More than three-quarters of CEOs believe that decision-making cannot rely solely on data, and predictions and scenario discussions for the future are important tools for decision-making.
In the use of generative artificial intelligence, without reliable and reliable data, even the best artificial intelligence can provide erroneous and biased results. 61% believe that data sources are worthy of attention, 57% are concerned about data security issues, and 53% believe that using these tools will face regulation.
Application of Generative Artificial Intelligence
Most companies are still in the exploratory stage of applying generative artificial intelligence, with over 75% of CEOs planning to deploy generative artificial intelligence in their businesses within the next year, but only 25% have issued guidelines for the use of artificial intelligence. In industries such as finance and communication, some CEOs suggest not using these tools temporarily to reduce supervision and conduct security assessments.
When asked about whether generative artificial intelligence will replace employees, 46% of CEOs have already hired additional employees, 43% plan to reduce or redeploy employees, and 28% are still evaluating the impact of artificial intelligence on employees. 29% of CEOs believe that their company has professional artificial intelligence employees, but they also need talents who can combine data, information technology, and business processes as a hole.
IBM’s Recommendations on Artificial Intelligence
IBM believes that CEOs have generally considered the use of artificial intelligence in their future vision and hope to turn it into reality. IBM provides the following recommendations for CEOs regarding leadership, measurement, talent, technology, and collaboration:
- Leadership: CEOs need to use a wide range of methods to leverage the functionality of data, integrate business, technology, and data, and value the results brought by data.
- Measurement: CEOs need to develop a framework for how artificial intelligence is used, and plan for content such as data management, monitoring, and data ownership, while ensuring network security.
- Talent: CEOs need to evaluate the potential impact of generative artificial intelligence on employees and attract talent in key areas with competitive advantages to improve work efficiency.
- Technology: CEOs need to identify AI usage strategies that align with the company’s operations, simplify digital activities, and prioritize the application of AI in innovation and business value.
- Collaboration: CEOs can collaborate with key partners to strengthen AI collaboration and achieve success through collective action.
Reference:
2023 Chief Executive Officer Study: Decision-making in the Age of AI
