A third of companies are preparing for artificial intelligence regulation

BCG thinks 2024 will be the year to “turn the magic of creative LA into business impact.” The global consultancy's CEO said in a video conference with reporters this Friday that the experiments companies made with the technology early last year have evolved into more technologically complex applications in the third and fourth quarters of 2023.

Nearly four in ten global companies (38%) are already preparing for specific regulations on emerging artificial intelligence (AI), according to a Boston Consulting Group (BCG) study presented this Friday in a video conference with international media. .

When analyzing only companies that plan to invest more than 50 million dollars (approximately 46 million euros) in AI or generative AI in the next twelve months, this percentage rises to 72%, according to the “BCG AI Radar 2024”, published in anticipation. The Davos World Economic Forum begins next Monday.

This is not accidental. It is set to create the first AI law in Europe, which establishes obligations based on the risk levels of companies' algorithms and imposes fines of up to 7.5 million euros or 1.5% of total turnover or up to 35 million euros or 7% of global revenue. About a month ago, MEPs and the European Council reached a tentative agreement on this AI regulation (Artificial Intelligence Act)

A priority for nearly 90% of executives

“There is a general perception among CEOs that AI is a big priority, so there are challenges that they have to overcome. When meeting with clients, we usually point to three values: implementing AI in daily tasks to achieve 10% to 20% productivity, efficiency and effectiveness by 30%. To improve the first 50%, restructuring important functions and new innovations to create a long-term competitive advantage of business models in this area,” BCG CEO, Christoph Schweizer, explained in statements to journalists.

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A majority (89%) of managers put LA and generative LA on the platform of top priorities for 2024, with senior executives (C-C-condition) from companies in 50 countries in North America, Europe and Asia. Essentially, “2024 will be the year to turn the magic of lA into business impact,” say these experts at North American Consulting.

90% of executives still notice (and wait for it Exaggeration master artificial intelligence or try it) and 66% are skeptical or dissatisfied with progress

However, there are obstacles to this digitization process and the introduction of increasingly intelligent algorithms. BCG recognizes that the key challenges facing management are: 90% of people are watching (and waiting for Exaggeration master or try), 66% are ambivalent or dissatisfied with progress, 59% of leaders have little or no confidence in the management team's ability to AI, and only 6% of companies have trained more than 25% of their workforce. These tools.

When asked about sectors where predictive technology is most adopted, BCG's marketing director, present at the session, named telecommunications and media, consumer goods, retail or insurance.

“What I'm seeing, at least in Europe, is that the financial sector is very active in this area, and we're also seeing healthcare moving forward,” Jessica Apothekar said. Chief Marketing Officer This is Administrative director From the Paris office. Technical Director and Digital advantageVladimir Lukic, replied: “Honestly, I wouldn't say that this or that sector suffers. It's a shortcut.”

BCG's CEO added two revealing points: the refusal to talk about the mass replacement of humans by machines — even if they happen in some companies — and experiments. chatbots And other automations are moving toward greater technical expertise.

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“We are not in a position to think that AI will create unemployment and make many people obsolete. Why? First, it is a cost-cutting tool for the organization. Many AI engineering and design profiles are in demand, so substantial job opportunities are being created,” argued Christoph Schweizer.

“It was very interesting for me to see how AI trials evolved technologically and became more complex in the third and fourth quarter of 2023. I think CEOs are bold and optimistic,” he concluded at an online conference attended by the Journal Economico.

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