AI in the global business landscape G-P partnered with a third-party research firm to surveymore than 1,500 business executives from Australia,the United Kingdom and the United States, to understandAI’s role in the complexities of global business, how thetechnology can drive growth and innovation andultimately, how AI will reshape the future of work. Table of contents Section 01 Understanding the current landscapeof AI adoption in global business3 Section 02 Navigating nightmare scenariosand overcoming AI challenges7 Section 03 Embracing opportunity to leverageAI for global growth13 01 Understandingthe current landscapeof AI adoption inglobal business Global business is justscratching thesurface of AI Much like how chat rooms were an early application of theinternet, ChatGPT has become one of the standard use casesmost people think of when artificial intelligence (AI) is mentioned. In their attempt to keep up withthe competition: But, similar to how chat rooms don’t represent the value of theInternet, ChatGPT is not representative of the true breadth anddepth of AI’s capabilities. AI is evolving at a rapid pace, but there’s plenty of opportunity forAI to bring change and make a greater impact on global business. New generations are welcoming this change into the workforcewith louder and bolder opinions and global aspirations. We callthis ‘Gen Global’. They want growth opportunities, diverseexperiences, workplace flexibility and independence associatedwith global companies. And they are eager to embrace thetechnologies, like AI, that help them achieve this. Leaders have an establishedAI program using technologyfrom other vendors More than two-thirds of business leaders believe AI is criticalfor operating and being competitive across global markets.The stark reality is 97% of leaders express concerns relatedto their AI plans or goals. Yet, AI has increasingly become a priority for businesses in2024, with81%reporting their organization has an establishedAI program. Organizations have anestablished AI program usingtechnology developed in-house Business leaders know they need AI toolsbut do not have the talent or resources toput towards innovation Despite concerns, 4 in 5(84%)of businessleaders report their organization is planning toinvest more in AI over the next 12 months, with30%reporting to increase their investment in AI“much more”. Organizations worldwide are investing morein AI than in their people. Close to60%of executives say they are puttingmore dollars toward implementingand/or developing AI technology and toolsthan in hiring and retaining employees. The future of AI is not tech alone In a world witnessing an AI revolution, it’s essential to rememberthe heart of our journey is humanity.“ Organizations must set strategies where technologycomplements and supports human work by making it moreefficient and scalable rather than replacing it. And leaders should leverage emerging technologies like AI tomeet them where they are at in their own global growth journey.” Nat Natarajan, Chief Product and Strategy Officer, G-P What’s influencingAI adoption? Leaders said that improved efficiency andproductivity is the primary objective ofimplementing AI technology. First there was IBM Watson, then therewas Siri and Alexa, and in November2022, ChatGPT, OpenAI’s Generative AIcompanion was introduced to the world.Since then people have used GenAImodels to help write their weddingvows, compose music and evenreimagine themselves in photos fromhistorical eras. While streamlining workflows and minimizingrisks of error is crucial for global employment andexpansion, increased efficiency is often a standardoutcome of AI use. Leaders may be overlooking the true potential AIcould have for their organization, including productinnovation, revenue generation and adding staffwith specialized skills to meet future needs of theirbusiness. When it comes to professional usecases for the tool... So, are organizations investing in AI without theright strategies in place? of executives have usedGenAI themselves of executives have usedGenAI tools like ChatGPT to createa presentation have used GenAI tools likeChatGPT to write emails 02 Navigatingnightmare scenariosand overcomingAI challenges No, robots are nottaking over the world But,99%of business leaders surveyed said the consequences for using AI incorrectly keep themup at night. So, what are leaders losing sleep over? Nearly two-thirds of executives report that their top concern is the financial consequences ofusing AI incorrectly. Shockingly, the loss of sensitive and proprietary data is last on the list. This is despite the fact thaton average small instances of data loss (fewer than 100 files) cost businesses between$18,000 to$35,000, while large-scale incidents can cost up to$15.6 million, according to a study by Verizon. Top concerns Financialpenalties/fines Operationaldisruption Legalnon-compliance Loss ofsensitive data The old