According to Deloitte AI Institute’s “The State of Generative AI in the Enterprise: Now decides Next” report, enthusiasm for Generative AI is beginning to wane. While interest remains “high” or “very high” among most senior executives (63%) and boards (53%), numbers have declined since the Q1 2024 survey, dropping 11 percentage points and eight percentage points, respectively.
The study observed that many GenAI efforts are still at the pilot or proof-of-concept stage, with 68% saying their organisation has moved 30% or fewer of their GenAI experiments fully into production.
“Our research indicates that the top benefits of GenAI are extending beyond improved efficiency, productivity and cost reduction, with more than half pointing to increased innovation, improved products and services, enhanced customer relationships and other types of value. The diversity of these value sources underscores the immense potential and versatility of this transformative technology,” said Costi Perricos, Generative AI LeaderatDeloitte Global.
Data lifecycle management
Based on 2,770 director—to C-suite-level respondents across 14 countries, the survey also revealed that 75% of organisations had increased their technology investments around data management due to GenAI. However, data-related issues cause over half (55%) of organisations to avoid certain GenAI use cases.
Managing risk
The report revealed that most barriers to successful GenAI deployment are risk-related, such as regulatory compliance concerns (36%), difficulty managing risks (30%), and lack of a governance model (29%).
Value of GenAI initiatives
Some 41% have struggled to define and measure the impacts of their GenAI initiatives. Only 16% have produced regular reports for the CFO about the value of GenAI.
Organisations are using specific KPIs to evaluate GenAI performance (48%), building a framework to assess GenAI investments (38%), and tracking changes in employee productivity (38%) to demonstrate the value of GenAI.
