Chief information officers (CIOs) plan on making generative artificial intelligence (gen AI) a strategic priority in 2024, according to “Capturing the Generative AI Pulse: An Exploration of the CIO Mindset” by Everest Group in collaboration with Yates Ltd.
According to a survey of more than 50 CIOs, GenAI has already graduated from being just a hype, with around 83% of global enterprises actively pilot testing GenAI capabilities or have already adopted it in their operations.
Gearing up for Wave 2
“Unquestionably, gen AI hype dominated 2023, but our survey indicates that it is more than a passing trend,” said Abhishek Singh, partner at Everest Group.
“Our research documents that most organisations are in what we call ‘Wave 1’ or the pilot phase of gen AI adoption; however, in 2024 and 2025, we fully expect more organisations to advance to the ‘Wave 2’ phase of production-grade deployments,” Singh adds.
GenAI initiatives
Around 61% of enterprises globally are exploring and starting to use GenAI technology, 22% have already deployed it for at least one or more processes, and 15% plan to pilot it.
With Gen AI, CIOs are trying to accelerate the consumption of existing digital tools, reduce knowledge-sharing latency, and shorten the product development lifecycle.
However, CIOs identified top challenges such as lack of clarity on success metrics (73%), budget/cost concerns (68%), the fast-evolving technology landscape (64%), data security and privacy concerns (55%), and talent shortage (41%).
