Trust in the potential of AI continues to be strong but a new global survey shows that 77% of CEOs feel their organisation’s leading technology experts lack the knowledge and capabilities to support, drive, or accelerate business outcomes in this evolving landscape.
Investments in AI solutions and services will have a global cumulative impact of $22.3 trillion by 2030, representing approximately 3.7% of the global Gross Domestic Product (GDP), according to a forecast by market research firm International Data Corporation (IDC).
However, a new survey by market research firm Gartner shows that only 44% of CIOs are deemed by their CEOs to be “AI-savvy”.
“The survey revealed that 77% of CEOs believe AI is ushering in a new business era, yet they feel their organisation’s leading technology experts lack the knowledge and capabilities to support, drive, or accelerate business outcomes in this evolving landscape”, Gartner says.
The survey shows 60% of CEOs say their business models are not fit for AI purposes.
“We have never seen such a disproportionate gap in CEOs’ impressions about technological disruption,” says Gartner vice president David Furlonger,
“AI is not just an incremental change from digital business. AI is a step change in how business and society work. A significant implication is that, if savviness across the C-suite is not rapidly improved, competitiveness will suffer, and corporate survival will be at stake.”
Gartner says that CEOs perceived even the CIO, chief information security officer (CISO), and chief data officer (CDO) as lacking AI savviness.
“CEOs’ concern about the technology savviness of their C-suite is not new. The 2019-2020 Gartner CEO survey showed that CEOs’ assessment of their executives’ technology savviness required for the digital era was suboptimal”.
“CEOs highlighted that the top two limiting factors impacting AI’s deployment and use are the inability to hire adequate numbers of skilled people and an inability to calculate value or outcomes.”
“CEOs have shifted their view of AI from just a tool to a transformative way of working,” says Gartner analyst Jennifer Carter.
“This change has highlighted the importance of upskilling. As leaders recognise AI’s potential and its impact on their organisations, they understand that success isn’t just about hiring new talent. Instead, it’s about equipping their current employees with the skills needed to seamlessly incorporate AI into everyday tasks.”
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