Globally, various enterprises are striving to understand generative artificial intelligence (gen AI) and explore the potential value it may bring. According to Deloitte's recently released "State of Generative AI Report," most organizations are actually performing well in achieving return on investment. This report is based on a survey of 2,773 leaders across 14 countries, revealing the progress and challenges organizations face in the application of generative AI.
Image Source Note: Image generated by AI, image licensed from service provider Midjourney
The report indicates that compared to the first edition released a year ago, enterprises have made significant progress. At that time, many business leaders expressed multiple concerns about the application of generative AI. In the third quarter of 2023 report, most organizations avoided some generative AI use cases due to data issues.
Encouragingly, although the time to realize returns has taken longer than expected, nearly three-quarters (74%) of respondents reported that their advanced generative AI projects have met or exceeded investment return expectations. Among these, cybersecurity and IT functions showed the best performance in return rates and successful scaling.
Jim Rowan, Deloitte's AI leader, stated that the greatest benefits reported by enterprises using AI are efficiency and cost savings. He noted that businesses are reducing the time spent on routine tasks, thereby enhancing employee productivity.
However, enterprises still face challenges in the rapidly evolving generative AI technology landscape. Rowan emphasized that the pace of technology adoption in enterprises is often slow, requiring prior validation of use cases and investment return potential. Additionally, many organizations are still working to resolve foundational technology issues such as data governance and platform modernization.
Currently, the main areas where enterprises are realizing returns from AI are the software development lifecycle and customer service. By automating certain tasks and interactions, businesses can significantly enhance efficiency and responsiveness.
When measuring the impact of generative AI, enterprises need to focus on both quantitative and qualitative metrics. Rowan pointed out that cost savings and efficiency improvements are important quantitative indicators, while employee skill enhancement and changes in corporate culture are significant qualitative considerations.
It is noteworthy that the report also indicates that 52% of enterprises are exploring agent-based AI, while 45% are focusing on research into multi-agent systems. Although the potential of agent-based AI is enormous, businesses need to adopt a strategic approach to gradually integrate this technology.
Key Takeaways:
🔍 74% of enterprises have achieved or exceeded returns on investment in generative AI.
💻 Enterprises are experiencing significant efficiency improvements in software development and customer service.
📈 52% of organizations are exploring agent-based AI to drive business process transformation.
