A recent study conducted by IBM’s Institute for Business Value has highlighted the challenges faced by Indian CEOs in implementing and scaling generative AI within their organizations. The survey, which included responses from 3,000 CEOs in over 30 countries and 26 industries, revealed that Indian CEOs place high importance on AI governance, with 71 percent stating that trustworthy AI is impossible without effective governance in place.
Despite recognizing the importance of AI governance, only 42 percent of Indian CEOs reported having good generative AI governance policies in place currently. This gap between intention and implementation may be attributed to employees’ lack of clarity regarding their roles and responsibilities. While 75 percent of Indian CEOs believe in inspiring their teams with a common vision, 31 percent acknowledge that their employees do not fully understand how strategic decisions impact them.
Sandip Patel, CEO of IBM India and South Asia, emphasized the need for AI guardrails to ensure the responsible realization of business value through AI-driven transformations. The study also highlighted the critical role of people and skills in successful AI adoption, with 71 percent of Indian CEOs stating that success with AI depends more on people’s adoption of the technology itself. Additionally, 49 percent of CEOs reported hiring for roles specific to generative AI that did not exist the previous year.
Looking ahead, Indian CEOs anticipate a significant need for training and reskilling within their workforce, with 34 percent expecting that a third of their employees will require reskilling over the next three years. This contrasts with the global average of just 6 percent in 2021, underscoring the importance Indian organizations place on preparing their workforce for the AI-driven future.
In conclusion, the study highlights the complexities involved in implementing AI governance and underscores the importance of partnering with trusted experts to develop and execute effective practices and policies. As Indian CEOs navigate the challenges of AI integration, building a strong foundation of AI governance and investing in the development of their workforce will be crucial for driving growth and competitive success in the AI-driven era.
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