Gen AI tops investment agenda for 66% of Indian CEOs: Report

In the wake of the AI chatbot revolution in 2022, an increasing number of CEOs are showing a keen interest in investing in Generative AI for their companies, as per the latest report from KPMG.

The report highlights that 66 per cent of Indian company CEOs and 70 per cent of CEOs from global firms are contemplating Generative AI as their primary investment focus for their organisations. The surge in demand for tailored content and advancements in AI algorithms have led to a rise in the integration of AI in business management.

However, Generative AI is regarded as a double-edged sword by 77 per cent of Indian CEOs, emphasising its high utility but also acknowledging its potential risks, according to KPMG’s report.

Globally, 88 per cent of CEOs share a similar perspective on AI. The report points out that a significant number of CEOs believe that AI can both bolster cybersecurity efforts and introduce new vulnerabilities for potential exploitation by adversaries. Nevertheless, approximately 61 per cent of CEOs express confidence in their organisation’s readiness to counter potential cyber-attacks.

Beyond CEO interest in AI, the report delves into various issues such as strategies for reintegrating employees into offices post-pandemic, the relevance of ESG (Environmental, Social, and Governance), the significance of Inclusion, Diversity, and Equity (IDE) in the workplace, and potential growth risks for CEOs.

In India, a majority of CEOs identify geopolitics and political uncertainty, climate change, emerging/disruptive technology, operational challenges, and fluctuating interest rates as the top five risks to their business growth, according to the report.