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Many organisations are lagging behind in harnessing the potential of generative AI, as a significant number of business leaders have yet to implement comprehensive strategies for the emerging technology, despite its widespread use among employees.
A recent survey conducted by Grammarly among 301 technology decision-makers from North America and the United Kingdom revealed that 72% of respondents reported various departments within their organisations utilizing generative AI without an overarching company-wide strategy. This finding is consistent with previous global surveys, which indicated that employees are eager to embrace AI, but many business leaders are still uncertain about how to leverage this emerging technology effectively.
Out of the respondents, only 45% stated that their organisations have adopted an enterprise-wide approach to ensure secure and coordinated deployment of generative AI across the company.
Those companies that have already embraced generative AI are reaping numerous benefits, including increased customer satisfaction (77%), enhanced employee experience (79%), lower operational costs (75%), and improved privacy compliance (77%) and data security (73%).
Matt Rosenberg, Grammarly’s Chief Revenue Officer and Head of Grammarly Business, emphasised the importance of business leaders adopting generative AI, as their teams and competitors are already doing so. He asserted that not having a comprehensive enterprise-wide approach could leave organisations vulnerable to security threats and other technical challenges, as outlined in the report.
The reluctance among business leaders to adopt generative AI, despite its popularity among staff, can be attributed to three main factors: security concerns (32%), lack of a cohesive AI strategy (30%), and a dearth of internal policies governing generative AI (27%). For HR leaders, previous research also suggests that a lack of understanding about the emerging technology could be a reason for its limited implementation.
Rosenberg cautioned that organisations will fall behind if they fail to recognize the value of generative AI, emphasising the importance of knowing how to effectively integrate this technology into workplaces. He stressed that executing a comprehensive company-wide strategy with holistic solutions is crucial for achieving successful transformation through generative AI while mitigating long-term risks.