Survey also shows that 62% of CEOs in Brazil agree that governance for technology should be established as solutions are designed, not after they are implemented
A new study by the IBM (NYSE: IBM) Institute for Business Value (IBV) points out that 82% of Brazilian CEOs believe that the transparency of generative AI – and other new technologies – is a key element in gaining customer trust. Therefore, 62% of the CEOs interviewed agree that governance for generative artificial intelligence must be established as solutions are designed, ensuring that ethics, transparency and regulatory compliance are integrated from the beginning, rather than being addressed only after the implantation.
Conducted with 3,000 CEOs from more than 30 countries and 26 industries, including Brazil, IBM's annual global study, The CEO Study 2024*, also highlights that 51% of Brazilian CEOs understand that the competitive advantage of their companies will depend on who has the most advanced generative AI. Furthermore, 57% of the country's senior executives report that their team already has the knowledge and skills necessary to incorporate generative AI into their operations systems. On the other hand, 59% of them recognize that they are struggling to fill key roles that involve technology.
In this context of business success with the adoption of generative AI, 74% of Brazilian executives highlight that the success of this technology will depend more on acceptance, people's engagement and organizational culture than on the technical capabilities of the technology itself.
Marcelo Flores, general manager of IBM Consulting Brazil
Finally, the study points out that companies' digital transformations should remain firm in 2024: 78% of the country's CEOs plan to maintain or accelerate the pace of transformational change in their organization this year, and 68% will take more risks than the competition to maintain your competitive advantage in the market. “We are at a time in the Brazilian market where companies are adopting AI in search of enhancing business efficiency and productivity – we are no longer in an experimentation phase. We need to understand how technology can help companies create new business models and opportunities and, thus, reach new levels of ROI. However, organizations also face significant barriers to AI adoption, such as integration and scalability challenges, AI governance, data complexity and skills limitations,” explains Marcelo Flores, general manager of IBM Consulting Brazil.
“As companies incorporate generative AI into business strategy, it is critical that executives build a cultural mindset that promotes adoption and navigates people through change in the right way. And this has been our role with customers and in the market”, adds Flores.
Other key findings from the study in Brazil include:
>>> 37% of CEOs interviewed in Brazil plan to hire additional staff because of generative AI.
>>> Respondents in the country say that 35% of their workforce will require reskilling in the next three years.
>>> 68% say their organization's success is directly linked to the synergy between finance and technology functions.
>>> For 70% executives, establishing and maintaining trust in technology will have a greater impact on the success of their organization than any specific product or service offered.
>>> 72% say they have the right network of partners to execute your business strategy.
To see the full study, including actionable strategies to help organizations navigate the complexity of adopting generative AI, visit here.
*Study Methodology
The IBM Institute for Business Value, in cooperation with Oxford Economics, conducted interviews with 3,000 CEOs from more than 30 countries and 26 industries from December 2023 to April 2024 as part of the 29th edition of the IBM C-Suite Study series. These conversations focused on business priorities, leadership, technology, talent, partnerships, regulation, industry disruption and business transformation.
The IBM Institute for Business Value, IBM's thought leadership think tank, combines global research and performance data with expertise from industry thinkers and leading academics to deliver insights that help bring greater intelligence to leaders and their businesses. For more world-class thought leadership, access this link.
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