Generative AI set to transform a whole host of industries — but is that always a good thing?

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Four in five (81%) companies say they are anticipating significant transformations driven by generative AI in the near future, research has claimed.

A Dell survey of 6,600 IT and business decision-makers across 40 countries found a correlation between the outlook towards GenAI and real-world applications – nine in 10 (91%) organizations of the organizations that had seen high revenue growth (of at least 25%) in 2023 expressed confidence in generative AI.

However, Dell’s research also found some apprehension about the technology, which could impact how businesses worldwide grow in the future.

GenAI set to revolutionize businesses

Among those that had not seen such significant revenue growth, fewer respondents (75%) expressed confidence in the technology, however the majority clearly still recognized its value.

Four in five (82%) globally reckon that they’re competitively positioned with a robust strategy; however, a lack of certainty about their industry’s outlook in the next three to five years sees around three in five (57%) struggling to keep pace. 

The potential benefits of AI are widely conversed; however, the survey’s respondents expressed varying levels of concern regarding talent scarcity, data privacy, and time constraints. Despite UK respondents appearing less apprehensive than the global average, the nation isn’t short on barriers.

Four in five (83%) also reported having security attacks in the past year, underpinning cybersecurity as another key concern when it comes to implementing generative AI solutions. The UK is also considerably less prepared when it comes to implementing a zero-trust approach to cybersecurity, likely a result of the fewer attacks that happened in the country compared with globally. 

Implying that the pace of change won’t slow down, Dell UK SVP and MD Steve Young commented: “Our message for those struggling with this is simple: innovation doesn't have to be intimidating. Any idea, big or small, can turn into innovation that fosters growth, improves efficiency, and drives productivity.”

Overall, the research highlights the need for companies to address the skills gap and improve collaboration between teams in order to benefit from AI’s transformative potential. Dell’s study also emphasized the importance of a robust cybersecurity posture – an important consideration that could slow down AI deployment but vastly improve its results.

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Craig Hale

With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!