Generative AI provides businesses with a variety of new opportunities. One study examined the reasons, concerns, and implications of using new technology in more detail.
Technology has not only been an important factor for financial service providers since the digital transformation. On the bank's blog, you will find studies on the most important trends and developments.
Generative AI (GenKI) has become an integral part of current discussions about digital technologies. A new study from Insight Enterprises on GenKI shows its increasing importance for businesses when it comes to digital transformation.
According to the survey, 72% of European companies are in the process of introducing generative AI into their companies or have already done so. Only 6% of executives surveyed have no plans or intentions to use this technology in the coming years.
Reasons for introducing GenKI
52% of respondents cited improving employee productivity as the primary reason for adopting generative AI in the next three years. 44% see improving customer service and 39% automating workflows across the company as other important reasons for introducing AI. 36% cited software development automation as the reason.
Main concerns about the introduction of GenKI
49% of respondents cited safety and security as the top challenge in implementing generative AI, followed by quality and monitoring (43%) and compliance with laws and regulations (37%). 29% also see budget constraints and input costs as an obstacle.
Effects of GenKI on work functions
92% of European executives surveyed believe GenAI will impact a variety of jobs and roles in working life. Among others, mentioned:
- Data analyst/data scientist (28 percent),
- Communications (28 percent),
- Office and administrative support (27 percent),
- Software developers (24 percent),
- Financial sector (22%).
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