According to a report by Boston Consulting Group (BCG), 86 per cent global organisations are experimenting with generative artificial intelligence (GenAI) for innovation, research and development (R&D), or product development, while 8 per cent are currently applying GenAI at scale.
As per the report, ready innovators are already moving out ahead in the GenAI race. They are applying GenAI more frequently in a single use case and are five times more likely to have applied it at scale.
It highlighted that 83 per cent senior executives ranked innovation among their organisations’ top three priorities. In addition, 52 per cent of business leaders cited an unclear or overly broad strategy as one of their top three challenges. Moreover, rising interest rates and talent constraints were cited among the top three concerns of 47 per cent and 44 per cent innovation executives, respectively.
The report surveyed over 1,000 senior innovation executives around the world.
