4 in 5 businesses say generative AI adds value: study

Meanwhile, some of the respondents are uneasy about its future.

80% of business leaders said generative artificial intelligence (genAI) increases the value of their company, a report by Alteryx, Inc said.

The “Market Research: Attitudes and Adoption of Generative AI” report also said that businesses ran around three projects last year using genAI, and 73% said these were 'very or extremely' successful.

Meanwhile, 43% of general public respondents are sceptical about its value, and 38% are fearful about its future.

The study included 400 APAC IT business leaders and 600 members of the general public.

Alteryx said there were similarities in the use of genAI, with 66% of the general public using this to search for information, and 45% of businesses using it for data analysis.

Whilst 78% of the general public feel positive about the increasing use of genAI to create content they consume, 47% said regulation on its use is still necessary.

The respondents were also asked about the highest activity that genAI should not be involved in. Half of the individuals surveyed said ethics, whilst business leaders said critical decisions.

Majority of respondents also said that AI hallucinations negatively affect their trust in the technology.

According to companies, data privacy and security (49%), security concerns (46%), and quality and reliability of outputs (36%) are the top hurdles in scaling AI.

The further implementation of genAI in an organisation is also being challenged by lack of training with 29% of businesses saying the lack of skilled talent is holding them back from doing so. Still, 15% of organisations using genAI don’t offer any mandatory AI training.

Around 65% of businesses eye further increasing their investment in genAI, the report read.

However, members of the general public are concerned that this technology will give rise to fake news (39%) and be used by hackers to commit crimes (37%).

MORE LIKE THIS: Nearly all businesses use gen AI in operations, cybersecurity: report

“To truly reap the benefits of this ‘game-changing’ tech, organisations must accelerate their data journey, implement better governance and empower non-technical users to access and analyse data in a secure and trusted environment, while addressing privacy and bias concerns,” Alteryx CIO Trevor Schulze said.

“Get this right and genAI has the potential to drive innovation, enhance decision-making, and deliver significant value in both the workplace and the personal lives of employees,” he added.

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