C-Suite Executives Investing Heavily in Generative AI
A new Accenture survey shows 87% of supply chain and production leaders increasing their spend on AI technologies.
A new survey by Accenture reveals that a majority of C-suite executives responsible for supply chain and production are significantly ramping up their investments in generative AI. According to the “Accenture Pulse of Change” survey, 87% of these leaders plan to increase their spending on generative AI technologies, and 85% are optimistic about seeing the returns from their current investments within the year.
The survey polled 2,800 executives across 18 countries, spanning various industries and functions. Out of these, 348 executives were specifically from the supply chain, operations, or production sectors.
While executives expressed enthusiasm for these investments, the survey also found that a majority of companies are still in the early stages of integrating generative AI into their business models. Only 14% of the surveyed organizations reported having fully incorporated a “responsible data and AI model” into their operations, indicating a gap between interest and execution.
Training has become a crucial requirement, with three-quarters of the executives (74%) recognizing the need for some training in generative AI. A closer look at the details of this training shows that 54% of them believe their organizations require intermediate-level training in areas like prompt engineering and adjusting AI models. Meanwhile, 40% think there is a need for more advanced training to develop AI models and applications. The survey also shows a decline in the personal use of generative AI tools among these executives, dropping from 71% six months ago to 42% who use these tools at least once per week.
“Executives approaching generative AI merely as ‘just another technology’ will have a rude awakening”
“Generative AI is already changing how chief supply chain and operating officers think about their data, talent, processes, and ways of working,” Maria Rey-Marston, a lead for Accenture’s global supply chain and operations business, said in a statement. “Executives approaching generative AI merely as ‘just another technology’ will have a rude awakening. We must understand and plan for the change of work on three dimensions: Which tasks can be automated or augmented? Which people need upskilling to use the new technology? And how can organizations embrace the power of GenAI responsibly?”
The survey results and expert insights suggest that while the road to fully leveraging generative AI is fraught with challenges, the commitment among C-suite executives to navigate these obstacles reflects a proactive approach towards transformative technology adoption in supply chain management and production.
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