Consulting firm KPMG has published a new report highlighting how excited executives are more than ever about AI – while also acknowledging some key concerns.

72% of CEOs surveyed say investing in innovative AI is a top priority for their company. Still, that number highlights a worrying trend for workers. The majority (57%) of respondents said they are allocating more capital to purchasing new technology – compared to 43% focused on upskilling their employees.

Indicating the current stage of AI, CEOs are taking more leeway when evaluating the return on these investments. KPMG up reports that 23% of CEOs expect a positive ROI in 1-3 years, although this number increases by 62% when modeled over 3-5 years.

However, the executives did not forget the concerns of the AI ​​landscape and highlighted three main concerns.

“Ethical challenges are the most cited obstacle to successfully deploying innovative AI, along with cost and technical skills.”

In second place, cybersecurity linked to AI is considered a “double-edged sword,” with 85% of CEOs saying AI can help detect malicious attacks while also exposing risk surfaces newer to competitors. According to KPMG, these numbers are “based on long-standing doubts that any organization can develop a lasting defense against cyberattacks.”

And last but not least, the lack of regulation around innovative AI took a place in the minds of the CEOs surveyed, with 81% responding that the gap in clear rules and regulations can hinder their company's success. At the same time, 77% of CEOs said the level of regulation related to innovative AI will reflect the level of climate commitment.

Today's report only reinforces the signal that AI may be more than just a passing fad, as the workplace and workforce are about to undergo significant changes

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