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Gen AI is now the CEO’s top priority: KPMG CEO Outlook 2023 Report

Global CEOs now rank investing in generative artificial intelligence (Gen-AI) as their top priority, according to the recently published KPMG CEO Outlook 2023 research. CEOs are optimistic about their development prospects despite concerns about geopolitical and environmental challenges, notably those in India. They see M&A (mergers and acquisitions) as a viable approach to growing their company.

Artificial Intelligence that Generates.

Global CEOs now rank investing in generative artificial intelligence (Gen-AI) as their top priority, according to the recently published KPMG CEO Outlook 2023 research.

58% of Indian CEOs are addressing the potential and challenges presented by generative artificial intelligence (Gen-AI), according to Yezdi Nagporewalla, CEO of KPMG India. With the rapid rise of Gen-AI as a technology and topic of great interest, nearly three-quarters of CEOs worldwide are monitoring its progress.

Artificial intelligence that uses generative models to create text, graphics, or other media is known as generative artificial intelligence, or Gen-AI. After gaining an understanding of the structure and patterns in the training data they receive, generative AI models produce new data with those same features.

Advances in transformer-based deep neural networks in the early 2020s made it possible for certain generative artificial intelligence systems to be notable for taking prompts in plain language as input. These include text-to-image artificial intelligence art systems like Stable Diffusion, Midjourney, and DALL-E, as well as large language model chatbots like ChatGPT, Bing Chat, Bard, and LLaMA.

Numerous industries, including as software development, product design, healthcare, finance, gaming, marketing, and fashion, can benefit from the application of generative AI. Early in the new millennium, generative AI saw a sharp increase in investment as various smaller businesses and major corporations like Baidu, Google and Microsoft developed generative AI models.

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