Playing the waiting game with generative artificial intelligence (GenAI) means missing out on value. The biggest benefits reported in our HFS Research Pulse survey (H1 2024) have accrued to those who move fastest.
Our data suggests G2000 firms have readily taken up GenAI, with 38% actively investigating or working with the technology—significantly more than the 26% reporting they are investigating or working with process automation, including RPA (robotic process automation).
Industries with comparatively few concerns regarding regulation—for example, retail, travel, and consumer goods—see a more significant impact on their bottom line than those under tighter control, such as banking, financial services, and insurance.
The faster innovation cycles that less-regulated industries have the freedom to enjoy go some way to explaining the difference in bottom-line impact to date. We define bottom-line value as profitability, productivity, efficiency, and working capital.
We should note we are still only seeing the very early impact of GenAI. The impact may even out over time, with, for example, the arrival of legislation such as the EU AI Act bringing certainty for those who have held back.
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