Workers with AI skills are a top need, but people with skills in the “classics” are likely to be more valuable in the near future than those with spot software or engineer skills.
After decades of development, AI has left the computer science lab and is now starting to impact how businesses are run. However, no technological advance in the past several decades has attracted more attention – or created more fear – than generative AI. Between inflated expectations and doomsday predictions, business leaders are left stranded without clear direction, a meaningful vision, or a playbook for the future of business.
HFS Research, In partnership with Ascendion, Now releases your generative organization™ Playbook for the future,This first-of-its-kind applied research series gives enterprise leaders a head start in the race to succeed with GenAI technology. Data & Insights provides practical guidance, real-world insights, and tactical recommendations honed through large-scale quantitative surveys and in-depth interviews with executive business leaders and AI innovators from companies with revenues greater than $500 million.
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According to HFS Research Executive Director David Cushman, “Study participants have effectively visited the future. They like what they saw and want more of it. The next few quarters and years will be a rocket ride for companies that time innovation correctly with GenAI and balance investment And the return.Leaders sitting on the sidelines may face an extinction event.
More than 120 early adopters interviewed described GenAI as the most disruptive technology they have ever seen and stated that the benefits to organizations will quickly move beyond quick wins and savings to impact revenue and market valuation.
Ascendion's mission is to help companies move GenAI from a test case to the fast track of how work gets done. “The key to generative AI is not robots, but brains. The right human skills enable us to harness its power. Building the last mile where companies will reap the most value depends on the intersection of technology with… talents.”
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Some of the most important highlights of the research include:
- We need more humans in the loop. 75% of the group surveyed ranked having enough skilled GenAI talent as a top barrier to effective deployment, highlighting the talent gap as a major challenge.
- Investing in the humanities to close the GenAI talent gap. Nearly 88% of respondents believe GenAI will make strength skills such as communication, empathy, curiosity, and emotional intelligence much more important, highlighting the evolving skill set required in the GenAI era.
- AI will achieve more than just cost savings.While the initial benefits include cost savings and productivity gains, the real potential for GenAI lies in driving revenue growth and market valuation.
- AI will unlock value from every business function. About 47% of leaders identify customer service as the key business function where GenAI will create the most value over the next 12 to 18 months, demonstrating its immediate applicability.
- Generative AI will reshape the economics of business. The study found that nearly 40% of respondents expect GenAI to deliver a greater than 10% improvement in overall productivity, indicating an urgent need for companies to adapt.
“GenAI will provide significant, if not spectacular, benefits to the business economics of most companies. For companies that are not taking the right steps right now, the speed of this transformation will likely become a threat,” says Phil Fersht, chief research officer and chief analyst at HFS. “Ontologically.” And based on our data, ignoring the important lessons learned and informed opinions from our GenAI leaders is unwise.
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