More than 80% Indian CEOs investing in GenAI for competitive edge
- IBEF
- December 22, 2023
A report indicates that 84% of Indian CEOs are either raising new capital or reallocating from other budgets to invest in generative artificial intelligence (GenAI). This strategic move is aimed at gaining a competitive edge over rivals. Globally, 70% of CEOs acknowledge the urgency to swiftly adopt GenAI to prevent competitors from gaining a strategic advantage.
The 'EY CEO Outlook Pulse 2023' reveals 86% of Indian CEOs are hiring for GenAI skills, initiating pilots and partnerships. Partner at EY India, Mr. Mahesh Makhija stresses an AI-first approach and strategic policies. Globally, 80% of Indian CEOs face investment challenges due to AI regulations, while 62% globally site GenAI progress impacting capital allocation. Despite challenges, 82% of Indian CEOs are confident GenAI will enhance leadership capabilities.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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