Indian CEOs face challenges in integrating artificial intelligence (AI) governance within their organizations, according to a recent survey by IBM and Oxford Economics. The study, which included 3,000 CEOs from 30 countries and 26 industries, highlighted the importance of effective governance in building trust in AI.
The survey found that 7 in 10 Indian CEOs believe trustworthy AI is impossible without proper governance, but only 4 in 10 feel they currently have good management of generative AI. Additionally, 75% of Indian CEOs believe that governance should be established as solutions are designed, rather than deployed.
Regulatory restrictions were cited as a major barrier to innovation by 48% of Indian CEOs surveyed. Despite this, over 70% of respondents in India believe that AI adoption, rather than the technology itself, will determine its success.
As AI continues to transform businesses, 34% of senior executives in India said that 34% of their workforce will require training and reskilling in the next three years. Nearly half of Indian CEOs surveyed said they are hiring for roles in AI generation that did not exist a year ago.
Sandip Patel, Managing Director at IBM India and South Asia, emphasized the need for AI guardrails to responsibly harness the value of AI for growth and competitive success. He highlighted the gap between the intent and actual implementation of AI governance, stressing the importance of partnering with experts to develop effective practices and policies.
In conclusion, the survey underscores the challenges Indian CEOs face in integrating AI governance, but also highlights the recognition of the importance of establishing trust in AI through effective governance practices. Empowering organizations to navigate AI-driven transformations will require a strategic approach to governance and collaboration with trusted partners for successful implementation.
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https://telecom.economictimes.indiatimes.com/amp/news/enterprise-services/indian-ceos-hold-ai-governance-crucial-for-ai-adoption-innovation-ibm-study/111153263
