An overwhelming 81% of CEOs and senior executives spoke in favor of a global set of regulations and standards on artificial intelligence, according to a survey conducted Wednesday by TCS.
The survey of 1,300 executives of companies each with more than a billion dollars in turnover, however, was not as clear on the impact of AI on employment and showed expectations mixed.
According to the survey, respondents advocated for AI ethical frameworks that guide responsible use, particularly in sectors where AI decision-making impacts important socio-economic factors like health and finance.
“Interestingly, an overwhelming 81% of executives surveyed called for a more ‘comprehensive’ set of AI regulations and standards,” TCS Director General K Krithivasan said in the ‘foreword to the report.
Only 4% of respondents in this year’s survey believe it is too early or unnecessary to regulate AI, while 14% say they prefer a “heterogeneous environment” of local regulations.
It can be noted that the issue of regulating AI has been widely debated in recent years, since its broader role in human life became evident, particularly after the launch of generative AI tools.
“As AI systems begin to replicate complex human decisions, the imperative to ensure that these technologies operate within ethical boundaries strengthens,” the TCS survey said.
The use of generative AI has also presented other challenges, including security and privacy, lack of IT readiness in which many organizations are under-equipped, talent development as well as cultural changes, adds the report.
Interestingly, when it comes to the crucial question of AI’s impact on job creation, 49 percent of executives said AI would increase or have no impact on the number of positions created, while 47 percent said they expected more positions to be eliminated. than being created.
About 45 percent of respondents said they think up to half of their employees will be using Gen AI daily in three years.
Nearly two-thirds of business leaders surveyed said “human creativity” or strategic thinking would remain their company’s competitive advantage.
The survey of executives from 24 countries and 12 industries found 86% of respondents saying they had already deployed AI to increase revenue.
“Companies, however, are realizing that the path to producing AI solutions is not easy and that building a mature AI business is a marathon, not a sprint,” said Harrick Vin, Chief Technology Officer of TCS.
(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First publication: May 15, 2024 | 6:31 p.m. STI
