Generative AI is accelerating change quickly, but many questions remain about the associated risks. Protiviti’s Jim DeLoach talks about how board directors and senior executives can balance opportunity and risk of this technology and guide their organizations as it proliferates.
So much has been written about generative artificial intelligence (genAI), it seems like a constant buzz inspiring both wonder and fear. According to a McKinsey webinar last year, the value proposition is alluring:
- GenAI is poised to boost performance and unlock up to $4.4 trillion of value from sales and marketing, product R&D, customer operations, software engineering and other business functions.
- Productivity growth has declined over the last 20 years, but genAI and other technologies are expected to unleash a new wave of productivity growth over the next 20 years.
- Up to 70% of the global workforce has the potential to see up to half of their job functions automated, potentially freeing them up to perform more complex and interesting work.
Admittedly, such claims can be viewed as those of a hype machine in overdrive. But as many extol the possibilities around how AI will alter the way people work, learn, play and communicate with each other, a reality is steadily coming into focus within many C-suites and boardrooms: AI…
