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Long-Term Outlook for GenAI: Polish CEOs Expect 5+ Years to Realize Value

BUSINESSLong-Term Outlook for GenAI: Polish CEOs Expect 5+ Years to Realize Value

The ethical challenges associated with implementing solutions based on generative artificial intelligence (AI) do not deter investment. 68% of CEOs in Poland claim that artificial intelligence is their main investment priority. The major benefits derived from implementing AI in their organizations are the personalization of services considering customer engagement, and new products and market development potential. At the same time, the “KPMG CEO Outlook” study reveals that nearly 9 out of 10 respondents in Poland believe that the lack of current regulations and development directions for generative artificial intelligence in the industry in which they operate, will be a barrier to their organization’s success.

Generative AI (genAI) is increasingly being used in many different sectors, with most companies focusing on the development potential it provides. This is confirmed by the KPMG study results, in which 68% of Polish CEOs and 69% of CEOs from the world’s leading economies stated that, despite the ongoing economic uncertainty, AI is the main investment priority in their companies. Leaders confirm that each generative artificial intelligence model created so far is better than the previous one. According to Polish respondents, the biggest benefits from implementing AI in their organizations are the personalization of services considering customer engagement, as well as new products and market development opportunities. On the other hand, CEOs from the world’s leading economies focus more on the financial merits resulting from the use of AI, pointing to the increased profitability as the greatest benefit of implementing generative AI in their organizations.

“Artificial intelligence opens up unlimited possibilities for us, changing the way we do business. Today, more than ever, using intelligent algorithms, machine learning, and process automation can revolutionize our businesses. AI enables us to understand data in a way that was previously unreachable, predict market trends, personalize customer experiences, and optimize operations. However, the key is the proper use of this technology. It’s not only about implementing genAI, but integrating it with the company’s values ​​and strategy. Data security, process transparency, and a responsible approach to ethics are key aspects that must accompany this”- says Łukasz Dylewski, Director, Leader of Data Science & AI at KPMG in Poland.

The rapid development of artificial intelligence raises ethical concerns related to its use, ownership, responsibility, and long-term consequences for society. A KPMG study in Poland shows that despite readiness to invest in this revolutionary technology, CEOs see threats that may be associated with its rapid development. The managers of the largest companies emphasize ethical challenges among the most important issues related to the implementation of AI in organizations, as indicated by 52% of Polish respondents and 57% from the world’s largest economies. However, it is not ethical challenges that took the place in the ranking of difficulties related to the introduction of genAI solutions into companies in Poland. According to Polish CEOs, the greatest challenge turned out to be technical capabilities and skills to implement AI in their organizations, emphasized by 80% of respondents. Other dilemmas faced by business leaders in this area include lack of regulation, cost and implementation time, and adaptation among employees. Additionally, 88% of respondents in Poland believe that the lack of current legislation and development directions for genAI in the industry in which they operate will be a barrier to their organization’s success. They also indicate that the degree of genAI-related regulation should reflect that of climate commitments.

CEOs in Poland are skeptical about the expected time to achieve a significant return on investment in the implementation of generative AI. The largest proportion of respondents claims that the profit from the use of AI solutions will have to wait at least five years. Representatives of the world’s largest economies are more optimistic in this regard, with over half of respondents expecting a return on investment in genAI within three to five years.

“As artificial intelligence becomes increasingly ubiquitous, a number of questions arise regarding its application in both a business and ethical context. On the one hand, companies trust that this technology will bring immense benefits, and on the other hand, there is a continuous search for areas of application that will offer the highest return on investment. The ethical application of AI, which is being worked on by both technology suppliers and regulators, remains crucial”- says Radosław Kowalski, Partner, Data Intelligence Solutions Team in the Consulting Department at KPMG in Poland.

Another challenge related to the implementation of AI in organizations is the issue of cybersecurity. According to 92% of managers of the largest companies in Poland, generative AI can on one hand help to detect potential incidents, but on the other hand, equip hackers with new strategies and increase the possibilities for cyber-attacks. However, awareness of cyber threats among Polish CEOs is growing year by year, simultaneously increasing the level of company preparedness in the event of a cyber-attack – 80% of respondents declared that their organization is well prepared for future digital attacks.

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