As of 2024, nearly two-thirds of organizations are using gen AI for tasks like automating customer service, analyzing data and streamlining operations — double the adoption rate from 2023. In the meantime, AI's rise has generated both enthusiasm and concern among business leaders, with some hailing it as transformative as the internet, while others warn of slower innovation and ethical risks.AI is a world-changing innovation like the internet or printing press.
JPMorgan Chase CEO and chairman Jamie Dimon, one of the most influential voices in global finance, has been a steadfast champion of AI. The financial services giant has integrated AI into its operations for over a decade and currently employs more than 2,000 AI and machine learning experts across divisions, including marketing, fraud prevention and risk management. In April, Dimon described AI's potential impact: 'We are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years. Think the printing press, the steam engine, electricity, computing and the Internet, among others.' Despite the enormous strides made by generative AI in recent years, its development is entering a slower, more incremental phase, said Google CEO Sundar Pichai at the New York Times' The'low-hanging fruit is gone,' and the next breakthroughs will require deeper innovation, Pichai said. Current language learning models like ChatGPT are improving at tasks like reasoning and completing sequences reliably, but another seismic shift isn't likely to happen soon. Microsoft CEO Satya Nadella shares this perspective, but urges businesses to embrace AI now, even if its most transformative potential might still be years away