Published on January 17, 2024, 8:21 pm

Generative AI, also known as generative artificial intelligence, has been making waves in the technology industry. According to a recent survey by PwC, the adoption of this technology will significantly impact industries like media and entertainment in terms of headcount.

While the rush for generative AI was observed in 2023, this year marks a shift towards a more focused effort on implementation. However, companies are still exploring and assessing the exact effects that generative AI will have on their workforce needs.

One key finding from the PwC survey is that most CEOs believe generative AI will lead to improvements in customer service. However, these benefits will not come without change. Bret Greenstein, a partner and AI leader at PwC, emphasized that this transformational shift will require new skills for front-line workers, end users, AI practitioners, and leaders.

Interestingly, CEOs are placing a strong emphasis on outcomes and growth goals when it comes to generative AI. This suggests that there is increasing corporate interest in investing in creating an AI-savvy workforce. Additionally, the survey indicates that CEOs are leaning towards adding employees in new roles related to technology. This could potentially increase the demand for tech talent in the market.

A recent report from Boston Consulting Group further supports the enthusiasm surrounding generative AI. More than half of executives surveyed believe that AI will save them money by 2024. Furthermore, nearly three-quarters of them increased their planned tech investments this year with the aim of gaining productivity gains.

However, despite this executive enthusiasm, it is important to note that generative AI adoption at scale is still in its early days. Only around one-third of CEOs surveyed stated that their companies had successfully deployed generative AI companywide within the past year.

As we navigate through volatile market conditions, CIOs (Chief Information Officers) are facing a busy year ahead when it comes to technology decisions for businesses. Microsoft research reveals a mismatch between how workers want to collaborate and the tools they currently have access to. This indicates a need for better alignment in order to maximize productivity and efficiency.

In conclusion, generative AI is undoubtedly revolutionizing various industries, with media and entertainment being particularly affected. As CEOs recognize the potential benefits of this technology, there is a growing interest in building an AI-savvy workforce. However, it is still early days for generative AI adoption at scale, and companies will need to navigate through challenges and align their collaboration tools with worker preferences.

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