According to new research from Lucidworks, many business leaders are worried about generative AI because of a number of things. Their concerns include accuracy, data security, transparency and cost by usage of generative AI. Most of the business leaders are worried about their data security (46%) if they use generative AI in their workplace in 2024. In 2023, only 17% of the leaders were concerned about it.
The second most concerning thing to these business leaders is the cost it would require to implement generative AI in their workplaces (43%) in 2024 as compared to 3% of business leaders who were concerned about it in 2023. 36% are concerned about response accuracy of generative AI in 2024 while 7% were concerned about it in 2023. 35% of business leaders are concerned about decision transparency of generative AI while 9% are worried about job displacement because of generative AI.
25% of the business leaders said that they have fully implemented their generative AI plans in 2024 while one in eight have planned revenue and growth. The research also found out that many industries are planning AI investments. 70% of the financial services firm are planning to invest more in generative AI while only 42% of the real estate businesses are planning to do it.
Read next: Research Shows Despite AI Investments, Employees Aren’t Ready to Embrace the Change
The second most concerning thing to these business leaders is the cost it would require to implement generative AI in their workplaces (43%) in 2024 as compared to 3% of business leaders who were concerned about it in 2023. 36% are concerned about response accuracy of generative AI in 2024 while 7% were concerned about it in 2023. 35% of business leaders are concerned about decision transparency of generative AI while 9% are worried about job displacement because of generative AI.
25% of the business leaders said that they have fully implemented their generative AI plans in 2024 while one in eight have planned revenue and growth. The research also found out that many industries are planning AI investments. 70% of the financial services firm are planning to invest more in generative AI while only 42% of the real estate businesses are planning to do it.
Read next: Research Shows Despite AI Investments, Employees Aren’t Ready to Embrace the Change
