🌟 AI Fever: What Are CEOs Thinking About Generative AI? 🤖

As a CEO, are you talking about AI more than usual?

You're not alone. A recent Gartner survey reveals that business leaders are not just curious—they're obsessed with the potential of Generative AI. But there's a catch. While enthusiasm is sky-high, concrete plans are still in the works.

• ✨ CEOs are captivated by AI's potential to transform industries.

• 🚀 AI's acceptance among CEOs has skyrocketed, with many personally using tools like ChatGPT.

• 🎯 CEOs have high expectations for AI-driven productivity gains but lack detailed plans.

• 🌐 There's optimism about AI's revenue growth potential, but specifics are unclear.

• 🧩 Technical leaders are expected to spearhead AI initiatives.

• 👥 Who: CEOs and Senior Business Executives

• 💼 What: Attitudes and plans regarding AI and Gen AI

• 🗓️ When: Insights from the 2024 Gartner CEO and Senior Business Executive Survey

• 🌍 Where: Across various industries globally

• ❓ Why: Understanding how leaders are preparing for AI's impact

Artificial Intelligence is the new rock star of the corporate world, captivating CEOs globally and promising a future of unmatched productivity and innovation. But is your company ready to ride this wave?

According to the 2024 CEO and Senior Business Executive Survey by Gartner, AI is the undisputed champion of upcoming technological transformations. A staggering 34% of CEOs named AI as the most impactful technology for the next three years, leaving operations efficiency and agility trailing far behind at just 9%. 🚀

Why the AI obsession?

It’s simple: AI promises disruption on a scale we've never seen before. And CEOs are ready to ride the AI wave, likely reflecting the highly disruptive nature of Generative AI.

From skepticism to endorsement, the journey of AI's acceptance among CEOs is nothing short of remarkable.

• 🚀 Tripling Impact: In just a year, the number of CEOs who believe AI will significantly impact their industry has nearly tripled.

• 🔓 Breakthrough Belief: 64% agree that 2023's AI breakthroughs justify the hype.

• 📱 Personal Use: Three-quarters of CEOs tried ChatGPT in the first half of 2023, with 44% integrating it into their daily work. 📱➡️🧠

Generative AI isn't just a buzzword—it's a productivity powerhouse.

• 📊 Workforce Plans: Nearly half (49%) of the surveyed CEOs have a plan to boost workforce productivity with GenAI.

• 📈 Big Expectations: More than a third foresee a productivity increase of over 15% in the next two years.

• ❓ Unclear Specifics: The expected productivity gains show little variation across industries, indicating that CEOs are still figuring out how GenAI will specifically revolutionize their operations.

• 🤝 One thing is clear: 87% believe the benefits outweigh the risks. (Source: Gartner)

While 86% of CEOs are optimistic about AI's potential to grow or maintain revenue, the "how" remains elusive.

• 🖌️ Broad Strokes: Improving customer experience, increasing talent productivity, and enhancing intelligence and analysis are common themes.

• 🛠️ Direct Strategies: More direct revenue-boosting strategies—like new products, targeted marketing, and personalization—are mentioned less frequently.

When it comes to driving AI strategy, CEOs are placing their bets on technical leaders.

• 🧑‍💼 Technical Leaders: Half are counting on their CIOs, CTOs, or CDOs to lead the charge.

• 👨‍💼 Taking the Reins: A brave 13% of CEOs have taken the reins themselves.

• 🧑‍🏫 Nontechnical Roles: CFOs (8%), COOs (7%), and CSOs (5%) are less involved, with only single-digit percentages stepping up.

AI is not just the next big thing—it’s the current big thing. CEOs are captivated, plans are in motion, and the potential is limitless. But the journey from hype to implementation is fraught with challenges and uncertainties.

In the end, while CEOs are buzzing about AI like never before, the roadmap to fully harnessing its potential is still a work in progress.

One thing is clear: the AI revolution is here, and it’s time to get on board or get left behind.

So, as a CEO and leader of your organization, what are you thinking? Probably AI. And maybe, just maybe, you’re onto something big.

• 🤖 Embrace AI: Start integrating AI into your strategic plans.

• 📚 Stay Informed: Keep up with the latest AI breakthroughs and how they can benefit your industry.

• 🔬 Experiment: Encourage your team to experiment with AI tools like ChatGPT.

• 🤝 Collaborate: Work closely with your CIO, CTO, or CDO to drive AI initiatives

• 📈 Focus on Productivity: Develop clear plans to leverage AI for productivity gains.

• 💡 Revenue Strategies: Identify specific ways AI can boost revenue through new products, marketing, and personalization.

As we stand on the brink of an AI-driven future, it's not just about predicting what's next—it's about creating it. And CEOs around the world are gearing up for the ride.

1. 💻 Voice Isolator by Eleven Labs - Strip background noise for film, podcast, and interview post-production.

2. 💻 BuilderKit - Build and ship AI tools super fast.

3. 💻 TextMine is an AI-powered knowledge base for documents

4. 💻 RankBoost AI is an SEO content creation platform

5. 💻 AI Lawyer creates legal advice and documents

1. AI deals lift US venture capital funding to $55 billion in Q2, data shows

2. India’s bid to make GPAI as AI regulator gets global support

3. Google Translate to soon add 110 languages with help of AI

4. Baidu launches upgraded AI model, says user base hits 300 million

5. ChatGPT answers went 'undetected', secured better grades than students, study finds

Empower Your Journey With Generative AI.

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It's a movement.
It’s a commitment.
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Together, we explore, innovate, and transform.

Our mission is to help marketers, coaches, professionals and business owners integrate Generative AI and use artificial intelligence to skyrocket their careers and businesses. 🚀

Joydeep Rakshit
Gen. AI Explorer
Co-Founder, Think Ahead With AI (TAWAI)