Three quarters (76 percent) of CEOs have launched Artificial Intelligence (AI) training bootcamps this year, to help staff stay on top of the latest tech trends.
The findings were revealed in our report The CEO Digital Divide: are you accelerating enterprise value or slowing it down? which surveyed 600 global CEOs.
Organisations don't feel prepared for AI adoption
A worrying 44 percent of CEOs polled said they feel their staff aren’t ready to handle AI adoption amid rapid global developments. Meanwhile over two in five (43 percent) of CEOs believe that AI could steal their job, highlighting widespread fears over the technology’s potential to shake up traditional working models.
CEOs are divided on how to approach AI
AI amplifies the dilemma confronting CEOs, with one-third (34 percent) opting to ban AI tools like ChatGPT within their organisations. However, 45 percent admitted to secretly utilising AI tools, such as OpenAI’s ChatGPT, to fulfil their job responsibilities, often passing off the work as their own.
Ironically, given the widespread secret use of AI technology, ethical considerations in AI adoption also emerged as a critical concern, with 68 percent prioritising it as a top issue.
Embracing an AND not or approach to AI
Stuart Munton, Chief for Group Operations and Technology comments: “CEOs cannot afford to be complacent when it comes to AI. Neither can they allow a culture of fear and distrust surrounding new technologies to gain a foothold, so reskilling people and teams across all departments to the highest standards should be an absolute top priority.
“It is important for business leaders to establish a well-designed framework around AI in order to maximise value and mitigate risks, empowering people with the guidance and resources to innovate safely. Failure to do so will leave them falling behind the competition and falling behind peers who do possess the AI skills to lead the new wave of tech innovation.”
“Ultimately, CEOs must embrace the 'AND' mindset, rather than the ‘OR’, when it comes to embracing new technology. This involves adopting juxtaposed concepts of speed AND security, small AND scale, as well as legacy AND innovation in order to unlock the full potential of technology investments."
