Where Generative AI Investors are Finding ROI
- Related: Learn how consumer goods organizations are trying to move from pilots to widespread adoption
Learnings
As part of the survey, Google Cloud shines the spotlight on “Gen AI Leaders” — defined as those extensively using and investing in generative AI. Of these companies, more than half (54%) invested in dedicated generative AI teams — compared with just 13% of average respondents.
What’s more, 86% of the power-user Gen AI Leaders plan to allocate at least half of future AI budgets to generative AI vs. 67% of average respondents.
- See also: See where ChatGPT sits with consumer users
This high-investing cohort is also more likely to effectively align AI strategies with broader business goals, at 76% vs. 69% of average respondents.
Within the consumer goods industry, experimentation abounds, as organizations determine what makes sense to build in-house and what will require external partnerships. In order to scale its internal generative AI tool, Procter & Gamble sought a test pool of thousands of users. The company now makes generative AI part of its standard onboarding process.
Generative AI Re-Investment
While these Gen AI Leaders may be the most likely to re-invest in generative AI competitive advantages, they’re not alone: Nearly half of all respondents said they plan to reinvest the gains from generative AI to improve operating profit margins.
Of them:
- 47% plan to invest in aligning business and technology to support change management for user adoption of AI
- 46% plan to invest in employee upskilling and wooing new talent with AI expertise
- 43% plan to invest in data quality and knowledge management
In looking at who is driving most gen AI strategies, the chief technology officer tops the list; however, Google notes that success requires support from across the C-suite.
CTO: 59%
CIO: 49%
CEO: 48%
CFO: 25%
CSO: 22%
Line-of-business leaders: 20%
CMO: 18%
More than 2,500 execs were tapped from Feb. 23 through April 5 for the survey, hailing from global enterprises that had at least $10 million in revenue, over 100 full-time employees, and were at least interested in generative AI use cases. Of all the respondents, 61% report having at least one generative AI application in production.