MIT & EY & Adobe – GenAI Deployment, 2023

According to a poll conducted by MIT Technology Review Insights, executives recognize the transformative potential of generative AI but are proceeding with caution when it comes to deployment. While almost all companies believe that generative AI will impact their business, only 9% have fully implemented a use case within their organization. The government sector has the lowest rate of deployment at 2%, while financial services and IT are the most likely to have implemented generative AI, with rates of 17% and 28% respectively. The main challenge to deployment is understanding the risks associated with generative AI, as selected by 59% of respondents. The poll also reveals that companies are recognizing the need for partnerships to effectively scale generative AI. Around 75% of executives plan to work with partners to bring generative AI to their organization at scale. Notably, only a small percentage (10%) consider partnering to be a top challenge, indicating the availability of strong ecosystems of providers and services for collaboration. While Big Tech companies have an advantage in terms of developing generative AI models and AI-enabled software, startups have advantages in specialized niches. Executives show a slightly higher preference for partnering with small AI-focused companies (43%) compared to large tech firms (32%). Overall, the introduction highlights that generative AI holds both risks and rewards for organizations. It emphasizes the need for companies to move quickly to meet stakeholder expectations while also proceeding carefully to comply with regulations and ethical standards. Additionally, it underscores the strategic considerations that executives are currently facing in terms of generative AI implementation.