Majority of leaders from Technology to Implement Gen AI in 2025 By CIOTechOutlook Team

Majority of leaders from Technology to Implement Gen AI in 2025

CIOTechOutlook Team | Tuesday, 08 October 2024, 04:33 IST

Seventy-five percent of technology leaders are considering incorporating Generative AI into their businesses within the next year, as AI becomes more prominent in the industry as per the report by Forrester Consulting for Experian.

The report emphasizes that business leaders have pinpointed technological disruption as the primary external factor influencing their business within the next two years, highlighting the competition for AI dominance as crucial for enhancing business efficiencies and cutting costs.

According to the survey, 75% of respondents think that the ability to utilize AI technology effectively will determine the competitive edge in their sector.

The equal percentage of senior leaders believe that Generative AI (GenAI) will greatly enhance their risk assessment methods, as per report. Considering the worldwide market for generative AI, it is expected to increase from $20.9 billion in 2024 to $136.7 billion by 2030, with a projected CAGR of 36.7% over the forecasted period.

The study included 1320 top leaders in Finance and Telecommunications from ten countries in Europe, the Middle East, Africa, and the Asia-Pacific regions, such as India, Australia, Denmark, Germany, Italy, New Zealand, Norway, South Africa, Spain, and the Netherlands.