g-f(2)2224 The Future is Now: Business Leaders Weigh in on Generative AI

 

genioux Fact post by Fernando Machuca and Copilot

Introduction: 

The article “What Business Leaders Really Think About Generative AI” from INSEAD Knowledge provides an insightful look into the perceptions and attitudes of business leaders towards Generative AI. It presents the results of a survey conducted among INSEAD alumni, exploring aspects such as adoption, concerns, benefits, and attitudes towards this transformative technology.

genioux GK Nugget: 

"The majority of business leaders are more excited than concerned about Generative AI, viewing it as a tool that can democratize access to information, increase efficiency, and relieve humans of mundane tasks." — Fernando Machuca and Copilot, April 13, 2024

genioux Foundational Fact: 

The survey reveals that two-thirds of respondents are already using Generative AI in their personal and professional lives. The primary concern among these leaders is not job loss due to AI, but its potential misuse and the associated ethical and safety implications. Interestingly, respondents believe that AI will benefit employees more than top leaders, reflecting a belief in the democratizing potential of AI. The main reason for excitement about AI is its ability to save time and increase efficiency by automating mundane and tedious tasks. This perspective is held by 90 percent of participants, indicating a strong positive sentiment towards the potential of Generative AI.

REFERENCE

The g-f GK Article

Jason P. Davis, What Business Leaders Really Think About Generative AI, INSEAD Knowledge, April 11, 2024.

ABOUT THE AUTHOR

Jason P. Davis is an Associate Professor of Entrepreneurship and Family Enterprise at INSEAD. He studies digital transformation and innovation in large enterprises, especially Big Tech companies in Asia and the US, as well as the strategies of start-ups in digital platform ecosystems, such as the iPhone and Android mobile ecosystems.

Classical Summary:

The article "What Business Leaders Really Think About Generative AI" from INSEAD Knowledge, written by Jason P. Davis, presents the results of a survey conducted among INSEAD alumni¹². The survey aimed to understand the attitudes and perceptions of business leaders towards Generative AI (GenAI), its adoption, use cases, and perceived impact¹².

Key findings from the survey include:

• Adoption: Two out of three respondents were already using GenAI in both their personal and professional lives¹².
• Concerns: The top worry among respondents was not job loss due to AI, but its potential misuse, along with the associated ethical and safety implications¹².
• Benefits: Respondents who believed GenAI would benefit employees more than top leaders outnumbered those who believed the reverse. This likely reflects a belief that AI will democratize access to information and improve efficiency for a wide range of jobs¹².
• Attitudes: Nearly half of the respondents reported being "more excited than concerned" about the rise of AI, and 42 percent were "equally concerned and excited". Only 9 percent felt "more concerned than excited"¹².
• Reasons for Excitement: The main reason for excitement (cited by 90 percent of participants) is that GenAI saves time and increases efficiency while relieving humans of mundane and tedious tasks¹².

The survey was conducted in July and August, shortly after the release of tools like ChatGPT, DALL-E, Bard, which triggered a global frenzy¹². The respondents were mostly senior roles, with 68 percent identifying as executives, top managers or managers, and 41 percent as owners or board members¹².

Source: Conversation with Bing, 4/14/2024

(1) What Business Leaders Really Think About Generative AI. https://knowledge.insead.edu/leadership-organisations/what-business-leaders-really-think-about-generative-ai.

(2) What Business Leaders Really Think About Generative AI. https://knowledge.insead.edu/print/pdf/node/46061.

(3) undefined. https://knowledge.insead.edu.

(4) en.wikipedia.org. https://en.wikipedia.org/wiki/INSEAD.

Jason P. Davis

Jason P. Davis is an Associate Professor of Entrepreneurship and Family Enterprise at INSEAD¹²³. He is an expert on digital transformation and innovation in large enterprises and the strategies of startups in digital platform ecosystems¹²³.

His research focuses on issues of collaboration and adaptation by 'big tech' computing companies in Silicon Valley and Seattle, fast experimentation by mobile app ventures on the iPhone and Android platforms, and the social media strategies of the Fortune 500 companies using Twitter and Facebook¹². He applies these insights to large organizations as they seek to create value with new digital technologies and systems like artificial intelligence, automation, platform-marketplaces, blockchain, and super-apps, and to new ventures in his MBA courses on Digital Entrepreneurship and Crypto Entrepreneurship¹².

Before joining INSEAD, Jason was an Associate Professor of Technological Innovation, Entrepreneurship, and Strategic Management in the MIT Sloan School of Management where he taught Technology Strategy¹². He currently serves as Senior Editor at Organization Science¹².

Jason earned PhD and MA degrees from Stanford University, where his research was supported by the National Science Foundation¹². He also earned MS and SB degrees from Caltech and MIT where he did thesis research in computation theory and molecular biology¹². His research has been published in top academic journals such as the Administrative Science Quarterly, American Economic Review, Strategic Management Journal, Academy of Management Journal, and Academy of Management Review¹².

He has received multiple research awards including the AOM Academy-Wide Newman Award for Best Paper from a Dissertation (2009), the TIM Division Best Doctoral Dissertation Award (2009), the TIM Division Best Paper Award (2009), the OMT Division Best Paper Award (2008), and the ACAC Competitive Advantage Best Paper Award (2014)¹². Jason also received an Honorable Mention Award for the Granovetter Prize for best article in Economic Sociology from the American Sociological Association (2012). He is also the recipient of the Academy of Management's Technology Innovation Management Emerging Scholar Award (2012)¹². Finally, Jason was selected to receive the ASQ Award for Scholarly Contribution (2015) given to “the most significant paper published in ASQ five years earlier”¹².

Source: Conversation with Bing, 4/14/2024

(1) Jason P. Davis | INSEAD. https://www.insead.edu/faculty/jason-p-davis.

(2) Jason P. Davis | INSEAD Knowledge. https://knowledge.insead.edu/author/jason-p-davis.

(3) Jason P. Davis | INSEAD Publishing. https://publishing.insead.edu/author/jason-p-davis.

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