Top executives say they’re not ready for the changes caused by generative AI in a new global survey conducted by Deloitte’s AI institute.

As discussed by Axios (Executives say they’re not ready for AI, written by Ryan Heath), the survey of 2,800 director to C-suite level executives— released as the World Economic Forum in Davos kicks off — found that only 1 in 5 executives believes their organization is “highly” or “very highly” prepared to address AI skills needs in their company.

• Just 1 in 4 believe their organizations are well-prepared to address AI governance and risks.
• Only 47% say they are sufficiently educating employees about AI.

The majority of executives said their organizations were focused on the tactical benefits of AI, such as improving efficiency and cost reduction, rather than using it to create new types of growth.

What they’re saying: “If you’re going to look at this as some side initiative — a department of generative AI that’s going to come up with all the use cases — it’s going to be a massive failure,” Joe Ucuzoglu, Deloitte Global CEO, told Axios in an exclusive interview.

“You need an ecosystem mindset,” he said.

“There’s a talent scarcity in the key areas it takes to activate all of this, so it’s impossible for any organization to have all the expertise within its own four walls,” Ucuzoglu said.

Honestly, I would have been surprised if the result was much different. Even with the tremendous promise associated with it, there are still a lot of unknowns with generative AI. I suspect that “executives say they’re not ready for generative AI” could be a headline again for another year or two.

So, what do you think? Is your organization ready for generative AI? Please share any comments you might have or if you’d like to know more about a particular topic.

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