Two-thirds of executives already using generative AI tools, shows survey

Credit: AI-generated image.

A recent survey conducted by INSEAD, one of the world’s leading business schools, shows that a majority of executives are already using generative AI (GenAI) tools in both their personal and professional lives.

Despite widespread fears that AI might lead to job losses, the survey found that business leaders and employees are largely optimistic about the technology’s impact.

The survey, which gathered responses from over 1,200 INSEAD alumni from various industries and regions, reveals that two-thirds of the participants are actively using GenAI.

This high adoption rate reflects a growing trend across global businesses to integrate AI into their operations.

Interestingly, the primary concern among respondents was not about AI replacing jobs but rather its potential misuse, highlighting worries about ethical and safety issues.

This concern suggests that while AI is seen as a valuable tool, there is also awareness of the need for careful management of the technology.

Jason P. Davis, an Associate Professor of Entrepreneurship and Family Enterprise at INSEAD, noted that the survey provides insights into how leaders view AI technology and its potential to transform industries worldwide.

More than half of the organizations represented in the survey are already utilizing generative technologies, with another 27% planning to adopt such tools in the near future. Only 21% reported no plans to use AI.

The survey also explored how perceptions of AI differ across regions and sectors. European respondents, for example, showed more caution, reflecting concerns about new technologies and digital privacy prevalent in that region.

They were also less likely than their counterparts in North America and Asia to be using generative tools.

Despite this, Europeans believe that the arrival of advanced general AI (AGI) is imminent more quickly than North Americans do, possibly due to their less frequent use of AI tools.

In terms of industry perspectives, those working in communication services, financials, and materials sectors tended to believe that organizations would benefit more from GenAI than individuals.

Conversely, respondents from the healthcare and utilities sectors felt that both individuals and organizations would benefit equally.

Overall, the survey highlights a significant shift towards the integration of AI in business processes, driven by a belief that AI can democratize access to information and enhance efficiency across a wide range of jobs.

This optimistic outlook is tempered by a cautious approach to managing the ethical and safety challenges posed by AI technology.