A recent IBM study of Indian CEOs shows that there is a growing need for AI governance as they embrace generative AI. The study found that 71 percent of Indian CEOs believe that trustworthy AI is not possible without effective governance, and 75 percent say generative AI governance should be established alongside solutions. Despite this recognition, only 42 percent of Indian CEOs report having good generative AI governance, possibly due to organizational uncertainty.
Indian CEOs also prioritize the importance of inspiring their team with a common vision over offering precise standards, with 75 percent believing it leads to better results. However, 31 percent admit that their employees do not fully understand how strategic decisions impact them. The success of AI adoption is seen to depend more on people and skills than on technology, with 71 percent of CEOs acknowledging this. Nearly half are hiring for roles related to Generation AI, and 34 percent believe their workforce will require retention and reskilling in the next three years.
The study reveals that Indian CEOs recognize the need for cultural change to effectively scale AI but face challenges in organizational collaboration and adoption. 70 percent of CEOs believe success relies on collaboration between finance and technology, but about half admit that competition between executives can impede this collaboration. 58 percent are pushing for a faster adoption of AI than some employees are comfortable with, indicating a need for alignment in the pace of adoption.
In terms of investment, approximately 32 percent of Indian CEOs are funding generative AI initiatives through new IT spending, while the remaining 68 percent are reallocating funds from other technology areas. The findings highlight the evolving landscape of AI governance and the importance of addressing workforce, culture, and governance challenges to successfully implement generative AI in organizations.
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https://indianexpress.com/article/technology/artificial-intelligence/71-indian-ceos-feel-ai-implementation-impossible-without-effective-governance-ibm-report-9404110/