- More than half of Canadian CEOs say they are hiring for
positions that did not exist last year due to generative AI, but
struggle to fill key technology roles.
- 72% of Canadian CEOs reveal they will take on more risk than
their competition to outcompete.
- 62% of Canadian CEOs say the productivity gains from automation
are so great they are willing to accept more risk.
MARKHAM,
ON, May 29, 2024 /CNW/ -- A study by the IBM
(NYSE: IBM) Institute for Business Value found that AI is fueling
new job creation and risk-taking among surveyed Canadian CEOs as
they prioritize generative AI to maintain and enhance their
competitive edge in the global market while simultaneously
transforming their workforce to meet new demands.
Canada was one of 30 countries
included in this annual global IBM study of 3,000 CEOs. Key themes
dominating the Canadian findings include the willingness of CEOs to
accept more risk in an increasingly competitive landscape driven by
generative AI. In fact, 64% of Canadian CEOs believe that
competitive advantage depends on having the most advanced
generative AI capabilities, higher than the global average of 59%.
Additionally, 62% of Canadian CEOs say the productivity gains from
automation are so great they must accept more risk to stay
competitive, and 72% say they will take more risk than the
competition to maintain their competitive edge.
"We are at a tipping point with generative AI as Canadian
business leaders are transitioning from experimentation to
integration that delivers real business impact," said Craig Eaket, Managing Partner, IBM Consulting
Canada. "As with any transformational change, there are challenges
but there is also widespread recognition of a tremendous
opportunity with AI for increased productivity. The potential
business value is extraordinary."
"Process automation is not about replacing an individual. It's
about enhancing the value of individuals—making human work more
human," said Javier Tamargo, CEO,
407 ETR. "AI has a role in helping us advance to provide better
service to our customers."
The findings also show that generative AI continues to fuel
significant workforce changes. While more than half of Canadian
CEOs reveal they have not yet assessed the impact of generative AI
on their employees, they do believe the workforce will grow by
nearly 6% over the next three years. In fact, while 59% of surveyed
Canadians CEOs say their teams have the skills and knowledge to
incorporate generative AI, 52% reveal they are hiring for roles
that did not exist last year due to generative AI. Despite this
push, however, 58% of Canadian CEOs say they are already struggling
to fill key technology roles, highlighting the ongoing challenge of
finding qualified talent.
The IBM study also reveals that CEOs recognize good governance
is essential to effective generative AI, an area for which Canadian
CEOs give themselves top marks. Of all the countries surveyed,
Canadian CEOs are most satisfied with their AI governance plans,
with 48% saying they have good governance in place today,
significantly higher than the global average of 39%. Brazil reported in at second place with 43%
and the United States'
self-assessment ranked them last with 32%.
Other key study findings include:
- Just 22% of Canadian CEOs see customer experience as important
for enterprise transformation, lower than the global average of
30%.
- More Canadian CEOs (35%) categorize efficiency and cost savings
as the key objective in their AI deployment than the global average
of 26%.
- 43% of Canadian CEOs are prioritizing technology modernization
over the next three years (9% more than the global average), and
34% are prioritizing their ecosystem and partnerships, higher than
the global average of 24%.
To view the full study, including actionable strategies to help
organizations navigate the complexity of generative AI adoption,
visit: https://www.ibm.com/downloads/cas/QJ2BYLZG
For more information about IBM Canada,
visit www.ibm.com/ca-en
Study Methodology: The IBM Institute for Business Value,
in cooperation with Oxford Economics, conducted interviews with
3,000 CEOs from over 30 countries and 26 industries from
December 2023 through April 2024 as part of the 29th edition
of the IBM C-Suite Study series. These conversations focused on
business priorities, leadership, technology, talent, partnering,
regulation, industry disruption and enterprise transformation.
Media Contact
Lorraine
Baldwin
IBM Canada Communications
lorraine@ca.ibm.com
SOURCE IBM