\u201cThe generative AI<\/a> frenzy shows no signs of abating,\u201d said Frances Karamouzis<\/a>, Distinguished VP Analyst at Gartner. \u201cOrganizations are scrambling to determine how much cash to pour into generative AI solutions, which products are worth the investment, when to get started and how to mitigate the risks that come with this emerging technology.\u201dThe poll was conducted among 2,544 respondents as part of a Gartner webinar series<\/a> in March and April 2023 discussing the enterprise impact of ChatGPT and generative AI. Results of this poll do not represent global findings or the market as a whole.Executives Say Benefits of Generative AI Outweigh the Risks<\/strong><\/p>\n The poll found that 68% of executives believe that the benefits of generative AI outweigh the risks, compared with just 5% that feel the risks outweigh the benefits. However, executives may begin to shift their perspective as investments deepen.<\/p>\n \u201cInitial enthusiasm for a new technology can give way to more rigorous analysis of risks and implementation challenges,\u201d said Karamouzis. \u201cOrganizations will likely encounter a host of trust, risk, security, privacy and ethical questions<\/a> as they start to develop and deploy generative AI.\u201d<\/p>\n Despite ongoing economic headwinds<\/a>, only 17% of executives indicated cost optimization as the primary purpose of generative AI investments. Customer experience was the most common primary focus of investments, cited by 38% of respondents (see Figure 1).<\/p>\n As organizations begin experimenting with generative AI, many are starting with use cases such as media content improvement or code generation. While these efforts can be a strong initial value-add, generative AI has vast potential to support solutions that augment humans or machines and autonomously execute business and IT processes.\u201cAutonomous business<\/a>, the next macrophase of technological change, can mitigate the impact of inflation<\/a>, talent shortages<\/a> and even economic downturns,\u201d said Karamouzis. \u201cCEOs and CIOs that leverage generative AI to drive transformation through new products and business models will find massive opportunities for revenue growth.\u201dAdditional insights are available in the complimentary Gartner webinar \u201cBeyond the Hype: Enterprise Impact of ChatGPT and Generative AI.\u201d<\/a> Gartner clients can learn more in \u201cExecutive Pulse: AI Investment Gets a Boost From ChatGPT Hype.\u201d<\/a><\/p>\n Gartner Data & Analytics Summit About Gartner for Data & Analytics Leaders<\/strong> Follow news and updates from Gartner for D&A Leaders on Twitter<\/a> and LinkedIn<\/a> using #GartnerDA<\/em>.<\/p>\n Gartner, Inc. (NYSE: IT)<\/em>, delivers actionable, objective insight to executives and their teams. Our expert guidance and tools enable faster, smarter decisions and stronger performance on an organization\u2019s most critical priorities. To learn more, visit www.gartner.com<\/a>.<\/p>\n Source: Gartner<\/i><\/p>\n Tags: Artificial Intelligence (AI)<\/a>, Gartner<\/a>, priorities<\/a>, survey<\/a>, technology investment<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 70% of Organizations Currently in Exploration Mode with Generative AI Stamford, CT (Aug. 5, 2023) \u2013 In a recent Gartner, Inc. poll of more than 2,500 executive leaders, 45% reported that the publicity of...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20677"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20677"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20677\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Customer Experience is the Primary Focus of Generative AI Investments<\/strong><\/h4>\n
![](\"https:\/\/www.insurance-canada.ca\/wp-content\/uploads\/2023\/09\/gartner-chatgpt-ai-fig1-2023.gif\")
<\/a><\/p>\n
<\/strong>Gartner analysts are providing additional analysis on AI and data and analytics trends at the Gartner Data & Analytics Summits 2023, taking place May 8-9 in Mumbai<\/a>, May 22-24 in London<\/a> and July 31-August 1 in Sydney<\/a>. Follow news and updates from the conferences on Twitter using #GartnerDA<\/a>.<\/p>\n
Gartner for Data & Analytics Leaders provides actionable, objective insight to CDAOs and data & analytics leaders to help them accelerate their D&A strategy and operating model to increase business value. Additional information is available at https:\/\/www.gartner.com\/en\/data-analytics<\/a>.<\/p>\nAbout Gartner<\/b><\/h4>\n