CEOs view AI as a 'top investment priority'

ChatGPT, its app seen here available for download, has illustrated the promise of AI. Photo: Jakub Porzycki/NurPhoto via Getty ImagesThey see it as a longer-term investment: 62% say they expect a return in 3 to 5 years, while only 21% expect a return in 1 to 3 years.set off a feverish rush to pursue AI, serving as a stark illustration of how quickly entire industries and positions could be disrupted.

"I think it's a recognition that generative AI is transformational and that it's not hype," Paul Knopp, CEO of KPMG in the U.S., tells Axios. "It provides opportunities to potentially grow revenues, but it also will provide opportunities to make workforces and business processes more efficient."The question of whether those efficiencies will translate into fewer jobs remains a concern for many.

"I do think that — while generative AI won't lead to reductions in our workforce — people that have generative AI skills will be more valuable than people that do not ... and will have more opportunity going forward in the future," Knopp says.covered 400 U.S. CEOs at companies with annual revenue of at least $500 million in a wide range of sectors, 62% said they envision their staff working permanently at the office within three years, up from 34% a year ago.

Only 4% envision their teams as fully remote, down from 20% in 2022, while 34% expect to have a hybrid workforce, down from 45%. "CEOs have an increasing desire to see employees back at the office," Knopp said, but "my belief is that hybrid is likely here to stay."Share on twitter

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

There are only 3 women CEOs among the top 100 companies in the Philadelphia regionThe annual report from the Forum of Executive Women shows that Philly has increased the number of women in top corporate roles — from one to three.
Source: PhillyDailyNews - 🏆 89. / 67 Read more »

Gaming CEOs Slightly More Cautious in Latest Industry OutlookGaming executives are less optimistic about business conditions than they were in the first quarter, according to the American Gaming Association’s (AGA) Gaming Industry Outlook.
Source: Covers - 🏆 341. / 59 Read more »

Underappreciation of LGBT executives creates investment opportunity, says studyAcademics from Northumbria University have uncovered an 'extreme underappreciation' of firms with CEOs who are openly gay, lesbian, trans or bisexual—and they say it's driven by discrimination.
Source: physorg_com - 🏆 388. / 55 Read more »