Conclusion
North American businesses are keen to explore generative AI and determine how to create value
As with all new technologies, we expect the initial flush of excitement to subside, and then renewed focused optimism, overcoming temporary disillusionment along the way.
Our research shows that businesses in the US and Canada are excited about generative AI — committing significant investment because they see it as a driver of growth. It is laudable to see the direct involvement by senior executives, and that larger businesses and important sectors such as healthcare, life sciences and financial services are leading the way.
However, as with any technology at the early stage of the hype curve, there is risk of unfocused investment and skipped foundational steps. We expect that many lessons will be learned, quickly, about the true value and application of generative AI in enterprise landscapes in the next year.
There is no denying that significant challenges exist around data governance and usability, and currently there are no quick solutions. But leaders who correct those issues responsibly now will reap greater rewards in the long term.
The rush to train, contract and hire AI skills will also disrupt the talent landscape, squeezing companies’ ability to advance with this technology in the short term. The pace of change must remain quick, without taking shortcuts to overcome the short-term obstacles.
Nonetheless, this is an exciting time, potentially a generational sea change event. US and Canadian firms are clearly keen to explore generative AI technologies and determine how to create value from them. Generative AI is surprising us in many ways – not least in its adoption patterns. As with all new technologies, we expect the initial flush of excitement to subside, and then renewed focused optimism, overcoming temporary disillusionment along the way.
Generative AI Radar 2023: North America
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