Generative AI is making inroads very quickly. In the Accenture Pulse of Change survey, 87% of C-Suite executives responsible for supply chain and production plan to invest more in generative AI,
Almost as many (85%) expect to reap the returns of their generative AI investments already in 2024.
The report surveyed 2,800 C-suite executives across 18 countries and a variety of industries and functions in March 2024.
Executives stated that need to understand the technology and its potential better, and there is a nice for more than basic widespread generative AI training across the organization. Three out of four (74%) said they need at least some level of training in generative AI; 18% recognized the necessity for extensive training in this area.
Other key findings include:
· Only 42% claim to be personally using gen AI tools at least once per week, down from 71% just six months ago.
· More than half (54%) believe their organization requires intermediate-level training in the technology, such as prompt engineering and model fine tuning.
· Two out of five (40%) think the most crucial need is advanced training, such as developing generative AI models and applications.
· Just 15% are highly confident they have the right data strategy and digital capabilities to use generative AI effectively.
“Generative AI is already changing how chief supply chain and operating officers think about their data, talent, processes and ways of working," said Maria Rey-Marston, PhD, Innovation Lead for Accenture’s global supply chain and operations business, in a statement.
"Executives approaching generative AI merely as ‘just another technology’ will have a rude awakening," Rey-Marston added. "We must understand and plan for the change of work on three dimensions: Which tasks can be automated or augmented? Which people need upskilling to use the new technology? And how can organizations embrace the power of GenAI responsibly?"
Just 14% of organizations have progressed from designing or initiating the scaling up of a responsible data and AI model to fully integrating one into their enterprise.
A report issued earlier this year by Accenture found that generative AI could automate or augment 58% of the processes in supply chains. For example, the technology could make demand and capacity planning insights more straightforward to understand and negotiate, enable natural language assistants for sourcing and procurement, and generate machinery maintenance plans much faster.
In the U.S., more than 40% of all working hours in supply chain functions could be affected through automation and augmentation, significantly changing roles, such as those of procurement clerks and production, planning and expediting clerks.
