ChatGPT has sparked enthusiasm for (generative) artificial intelligence in many companies. A study shows that AI has now become a reality. Interest is still high, but the focus and challenges are shifting.
As the economy and society become more digital, the topic of artificial intelligence in all its facets is becoming increasingly important. Studies on the latest trends and developments such as GenKI, machine learning and others and how to respond to them can be found in the Bank Blog.
ChatGPT has reignited a global hype about artificial intelligence. Many companies have already experimented with generative AI, others are preparing corresponding solutions. But – as with all new technologies – the results do not yet meet the (high) expectations. So disillusionment is now setting in. The search for concrete applications that create value has begun, as a recent study by Deloitte shows, for which 2,000 managers worldwide were surveyed, 150 of them in Germany.
GenKI becomes more concrete
The initial enthusiasm for AI tools like ChatGPT has given way to a more critical view. Companies are now placing more emphasis on the application possibilities and practical suitability of the new technology.
Trust and value creation are crucial here. Rapid value creation, trustworthy applications and employee training are essential for the rapid use and scaling of generative AI.
However, expectations of artificial intelligence vary greatly, which makes the actual benefits achieved through the use of AI all the more interesting: German companies are primarily recording an acceleration and simplification in system and software development (64 percent), significantly more than the global average (36 percent). The generation of innovation and growth using AI tools is similarly pronounced worldwide (37 percent, global: 35 percent), and Germany is also in line with the global average in fraud prevention and risk management.
However, Germany differs from the global average when it comes to other AI benefits implemented: German companies have so far seen benefits primarily through increased sales (31 percent) and improved efficiency and productivity (29 percent) through the use of AI tools. In a global comparison, companies tend to focus more on finding new ideas and insights (30 percent) and improving client and customer relationships (29 percent).
Customer-facing areas dominate GenKI use
The most pressing challenge for companies is to figure out how and where AI can be used to create and enhance value. Improving efficiency and reducing costs remain key goals. At the same time, there is a clear shift towards strategic goals such as growth, innovation, risk management and fraud prevention.
The introduction of artificial intelligence is most advanced in the areas of marketing and sales as well as in customer service. In Germany, a quarter of the companies surveyed have implemented scalable implementations in these areas, while only 14 percent of participants globally say this. Overall, the use of AI is somewhat more widespread in German companies (11 percent) than the global average (8 percent). In the areas of IT/cyber security (13 percent, global: 14 percent) and legal, risk and compliance (5 percent, global: 4 percent), the differences are smaller.
Challenges in the introduction of GenKI
The perceived barriers to the adoption of artificial intelligence have shifted significantly over the past three months. In Germany, concerns about compliance have increased by six percentage points and now stand at 35 percent (global: 31 percent). The lack of adoption strategies is also more widely perceived, as is the lack of commitment from management and/or financing.
The German values for the obstacle “inadequate IT infrastructure/infrastructure/data” have increased by four points to 13 percent compared to the previous quarter and are now on par with the rest of the world. The values for the AI barrier “difficulties in risk management” have also increased by five percentage points to 29 percent (globally: 28 percent). The most striking, however, is the increase of ten percentage points in the hurdle “difficulties in identifying use cases”. The search for concrete use cases therefore seems to be difficult.
Scores for a lack of technical talent and skills have dropped by five percentage points to 36 percent. The lack of governance models is also now viewed much less critically, with a decrease of ten percentage points to 20 percent. However, these improvements are tempered by increased scores for some compliance-related aspects such as the lack of implementation strategies, risk management challenges and regulatory concerns.
The values for implementation challenges remain unchanged at 25 percent and are below the global average of 29 percent. However, cultural resistance among employees remains a strong brake on AI, with an unchanged high value of 21 percent (global: 19 percent).
The study “Accelerating AI transformation“ can be obtained here.
Bank Blog Partner Deloitte develops integrated solutions for its clients in the areas of auditing, tax consulting, financial advisory and consulting.
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