Playtime is over: why GenAI is now an investment priority

GenAI may still be the new kid on the block, relatively speaking, but it’s a megatrend that rivals the evolution of the internet itself – and will not be slowing down.

Our landmark new Global GenAI Report finds that the technology is proving its worth beyond the hype. Almost 70% of all respondents are feeling optimistic about GenAI, and organizations across industries are starting to apply GenAI in ways that make a real difference in the lives of their employees and customers.

Shifting from experimentation to long-term strategies

Business leaders are turning their focus from experimenting with GenAI to exploring long-term use cases that transform business performance and workplace culture for the better. Almost all the leaders we surveyed have already invested in GenAI, while more than 80% have established expert or robust GenAI teams.

Furthermore, nearly two-thirds of C-suite respondents expect GenAI to be a game changer over the next two years and plan to invest significantly in the technology.

However, only 2 in 5 respondents strongly agree that their existing GenAI solutions meet their needs. Clearly, there’s a need for reskilling and upskilling in organizations, or for partnering with expert service providers that will give them access to these skills.

As noted in the report, most CEOs view GenAI as transformational. The good ones are using it to create competitive differentiation.

GenAI strategy is a priority globally

The Global GenAI Report is a pivotal resource for organizations navigating the GenAI landscape. For our primary research, we interviewed more than 2,300 leaders from organizations in 34 countries across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Respondents represent 12 industries, among them banking, investment and insurance, manufacturing, automotive, retail, healthcare and the public sector. Of these respondents, 98% had direct authority or influence over GenAI buying decisions.

The report shows GenAI is on track to augment human labor in a range of areas, with implications for business models in every industry. Organizations are increasingly using it to automate parts of the value chain, remove drudgery from human roles and rapidly improve processes.

In the report, we explore in detail how organizations are strategizing around GenAI and how GenAI can transform their business operations. A key point from the report is alignment between GenAI and broader business strategies is paramount right from the start. Investing in GenAI without this alignment will fail to deliver ROI.

From technology to ethics: what organizations are doing

The report also looks at the underlying technology infrastructure that puts organizations on the road to GenAI success, the importance of building an expert GenAI team in an organization (and what this team should like like) and adopting data-management practices and a cloud-native approach.

Our findings show that cloud computing is indispensable, as it provides the computing power and scalable infrastructure required for GenAI. More than 90% of CIOs and CTOs are reviewing their network architecture due to the demand for GenAI, and a similar number agree that cloud-based solutions are the most practical and cost-effective way of supporting GenAI applications.

Responsible innovation: balancing ambition, sustainability and skills development

The report also explores high-priority topics like the effect of GenAI on the workforce and organizational culture, and challenges relating to GenAI ethics, safety and sustainability.

While the democratization of GenAI technology means nontechnical users can access and engage with these tools easily, we see a considerable gap in GenAI expertise, along with challenges associated with upskilling and reskilling. The need for responsible innovation is paramount, as is balancing GenAI ambitions with an organization’s sustainability goals. In the report, we discuss security concerns and data privacy issues relating to GenAI – challenges that must be addressed while implementing GenAI in any organization.

Position yourself for a GenAI future

Our Global GenAI Report serves as a beacon for organizations that want to succeed with GenAI – not least because their competitors are already doing do. As we look to 2025 and beyond to identify the next notable GenAI developments, we also explain the value of a partnership with NTT DATA. Our end-to-end, full-stack portfolio means we’re uniquely well-placed to coinnovate on GenAI with our clients.

For a deeper understanding of these insights and to learn how your organization can effectively implement GenAI strategies, we invite you to explore the full report.

Download NTT DATA’s Global GenAI Report to explore our full research findings.