Business leaders have concerns about generative AI across a range of areas, including data security, cost, accuracy, and transparency, according to recent research from Lucidworks.
The report was based on data from a survey conducted in April and May 2024 among 2,500+ business leaders from around the world.
Some 46% of respondents say they are worried about data security for generative AI, 43% about implementation cost, 36% about response accuracy, and 35% about decision transparency.
Business leaders are much more likely to be worried about generative AI across various areas in 2024 than they were in 2023.
Business leaders say just 25% of their planned generative AI investments have been fully implemented so far. Only one in eight planned revenue and growth initiatives have been implemented; and one in six OpEx cost reduction initiatives have been implemented.
The researchers found that AI investment plans vary widely among industries. For example, some 70% of financial services business leaders say their firm plans to spend more on AI in the next 12 months vs. only 42% of real estate business leaders who say so.
About the research: The report was based on data from a survey conducted in April and May 2024 among 2,500+ business leaders from around the world.
