Report: About 60% of Enterprises See Generative AI as a Business Opportunity
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According to the survey, research shows that three-fifths of enterprises believe generative artificial intelligence (AI) is a great opportunity, but many are concerned about potential cyberattacks. Research by accounting giant PwC indicates that enterprises cannot advance if they are unwilling to take risks in the highly competitive field of emerging technologies.
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PwC's survey of over 3,900 companies worldwide found that about 37% of enterprises consider themselves highly or extremely vulnerable to cyber risks. For leaders responsible for enterprise risk management, cyber-related threats are generally more concerning than inflation. Additionally, about a quarter of enterprises feel their organizations face very high risks in the Middle East, where geopolitical conflicts are escalating.
However, the survey, which covered over 3,900 global enterprises, shows that concerns about cyberattacks or technical failures have not deterred enterprises from pursuing transformation. Approximately 60% of enterprises stated that they view generative AI as an opportunity for their business rather than a problem.
Generative AI refers to complex models that create entirely new content by leveraging massive datasets. This technology has gradually entered the mainstream through applications like ChatGPT. Earlier this month, NatWest announced the launch of an upgraded chatbot powered by generative AI, capable of engaging in human-like conversations with customers.
Sam Samaratunga, Head of Global Risk Services at PwC UK, stated: "In a world of constant change, organizations must transform, with emerging technologies playing a pivotal role. Consequently, in 2023, cyber and digital risks have become focal points, and those responsible for risk management view cyber threats as more severe than inflation. However, surveys indicate that organizations unwilling to take risks will struggle to make progress."
This survey reveals widespread optimism about generative AI among enterprises, alongside concerns about cyberattacks. Yet trends demonstrate that these apprehensions haven't slowed the pace of digital transformation. In this era of uncertainty, taking calculated risks appears to be the necessary path for enterprises to advance.