Deloitte Consulting: 2024 US Generative Artificial Intelligence Report

Deloitte has released its 'Generative AI in the U.S. 2024 Report', revealing insights from a country that claims to be at the forefront of AI adoption.

Enthusiasm for generative AI remains high, with the next three years expected to see transformative impact.

62% of respondents said excitement was the top emotion regarding generative AI, but there was also uncertainty (30%). 79% of respondents expect generative AI to drive significant change in their organizations and industries within the next three years.

Many leaders are confident in their organization’s generative AI expertise.

44% of respondents believe their organization currently has a high (35%) or very high (9%) level of expertise in generative AI.

Organizations with high expertise in generative AI tend to feel more positive about it, but also more stressed and threatened.

Relative to other respondents, leaders who rated their organization’s overall generative AI expertise as “very high” tended to feel more positive about the technology; they also felt more pressure and viewed it as a greater threat to their business and operating models.

Current generative AI efforts are still more focused on efficiency, productivity, and cost reduction than on innovation and growth.

Most organizations surveyed are currently targeting tactical benefits, such as increased efficiency/productivity (56%) and/or reduced costs (35%). Additionally, 91% of respondents said they expect generative AI to increase their organization’s productivity, with 27% expecting productivity to increase significantly.

Most organizations rely primarily on off-the-shelf AI solutions.

Consistent with their current emphasis on the tactical benefits of generative AI, the vast majority of respondents currently rely on off-the-shelf solutions.

Talent, governance, and risk are key areas where productive AI readiness is lacking.

In the initial quarterly survey, 41% of leaders said their organizations were only somewhat or not at all prepared to address talent issues related to generative AI adoption; 22% felt their organizations were very well prepared.

Leaders see major societal impacts on the horizon.

52% of respondents expect that widespread use of generative AI will concentrate global economic power; 30% expect it to distribute global power more evenly.

Leaders are seeking more global regulation and collaboration.

In disrupting traditional business norms, the unique risks associated with generative AI have prompted many business leaders to call for greater government regulation and increased global cooperation around AI technology.