A new report shows that three in four business leaders find generative AI will be a top three emerging technology over the next 12-18 months.  

The recent survey, released by KPMG, focuses on emerging trends in the use of generative AI in business, including both the opportunities and threats executives believe generative AI has created. The report is based on an online survey of 300 global business executives (representative of diverse industries, functions, firm characteristics and markets) was conducted to explore generative AI views and trends.

Key report highlights

• 3 in 4 business leaders find generative AI will be a top three emerging technology over the next 12-18 months.  
• 97% of respondents expect their organization to be highly impacted by generative AI in the next 12 to 18 months, and 80% believe the technology will disrupt their industry as a whole 
• 77 % of those polled say the uncertainty of regulations significantly impacts their investments in generative AI, with 35% saying they won’t pause adoption despite the precarious situation. 
• 93% of respondents also said they believe generative AI will add value to their business, and 83% expect investments in the tech to more than double within the next year 
• IT/Tech, operations, and marketing and sales are the top functional areas that are anticipated to be impacted the most by generative AI. 
• Lack of skilled talent remains a top three barrier to implementing generative AI from March to June 2023. 
• Risk management measures around the use of generative AI to manipulate public opinion has increased; 29% of business leaders ranked this as high priority in March and 56% did in June.
• From March to June concerns reduced around opportunity for professional development and advancement (41% vs. 26%) and decreased creativity and innovation (30% vs. 16%).