The C-suite view on AI

Most business leaders think artificial intelligence will be a “force for good”, but are also cognisant of the need to guard against the negative consequences that might arise from using this technology, a study has found.

Why it matters

Artificial intelligence is a hot topic in the marketing space. Understanding the C-suite perspective, however, can ensure marketers are thinking in a holistic way about using this technology, both within their own organisations and across society more broadly.

AI is a “force for good” (with caveats)

EY, the professional services firm, polled 1,200 CEOs around the world. And it found:

• Sixty-five percent of respondents “strongly” or “somewhat” agreed that AI is a “force for good” that could create “positive outcomes for all”.
• Just 10% of participants disagreed with this viewpoint, while the remaining 25% adopted a neutral position.
• Exactly two-thirds of business leaders thought the impact of AI replacing employees would be “counterbalanced” by the creation of new roles and opportunities; 11% held the opposite view.
• A broadly equivalent split was observable when discussing the need for businesses to increase their focus on the ethical implications of using AI on “key areas of our lives, such as privacy.”
• Such a divide also held true when referencing the necessity of mitigating against “bad actors” that could use AI in harmful ways, as well as against “unintended” negative outcomes from using such technology.

Investment levels in AI

• Forty-three percent of CEOs reported that their organisations have “already fully integrated AI-driven product or service changes.”
• Another 45% have not made a “significant capital investment to date” in this area, but plan to do so in the 12 months.
• Just 12% of the panel had no plans for such an investment in AI, according to EY’s study.

The big picture

“CEOs clearly see the huge upside opportunities of AI,” the study noted. “But CEOs are simultaneously concerned about any unintended consequences of AI – reflecting a broader confluence of views in media, society and contemporary culture where the exciting potential of artificial intelligence is often contrasted with the tropes of dystopian science fiction.”