According to PwC, legacy organisations are at a critical juncture. The success of AI-first enterprises means proactive – and rapid – innovation is now essential. For many, that will require an evolution of leadership and cultural change in an effort to embrace experimentation and risk. It will also require a deep understanding of the true costs of AI implementation and a focus on overcoming specific challenges to unlock enterprise-wide value.
PwC notes many organisations are experiencing a GenAI ‘reality check’. Last year, 45% of CEOs expected GenAI to boost revenue and profit within 12 months, but their latest survey shows nearly 80% have seen little impact on either. As a result, only 36% now anticipate profitability gains from GenAI this year.
Meanwhile, major West Coast venture capital firms are strategically investing in industries where AI can deliver the greatest impact.
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