Generative AI, the powerful technology that can create human-like text, images, and more, is already delivering impressive results for businesses that have adopted it. According to a new survey from Google Cloud and the National Research Group, 74% of organizations are currently seeing a return on their investments in generative AI.
Key points
The survey, which polled 2,508 senior leaders at global enterprises, found that among those companies that have generative AI in production, a remarkable 86% have seen their annual revenue increase by 6% or more. That’s a significant boost to the bottom line, and it’s happening in a relatively short timeframe – the survey found that 84% of organizations are able to transform a generative AI use case idea into a production-ready solution within just six months.
“Generative AI is not just a technological innovation; it’s a strategic differentiator,” said Oliver Parker, vice president of Google Cloud’s global generative AI go-to-market efforts.
Our research shows that early adopters of gen AI are reaping significant rewards, from increased revenue, to better customer service, to improved productivity. Organizations investing in gen AI today are the ones that will be best positioned to succeed in the coming decade.
Oliver Parker, vice president of Google Cloud’s global generative AI go-to-market efforts.
The benefits of generative AI go beyond just revenue growth. The survey found that 45% of executives who have implemented the technology reported that employee productivity has at least doubled as a result. Generative AI is also helping to boost security, with 56% of executives saying it has improved their organization’s security posture.
When it comes to driving business growth, 77% of executives said generative AI has helped them improve leads and customer acquisition. And on the customer experience front, 85% reported an increase in user engagement, while 80% saw improved user satisfaction.
These impressive results are driving a reinvestment cycle in generative AI, with nearly half of respondents (49%) planning to reinvest their gains to further improve operating profit margins. The top three areas for investment are aligning business and technology to support user adoption (47%), upskilling the workforce and attracting new AI talent (46%), and investing in data quality and knowledge management (43%).
“The most successful organizations aren’t just implementing gen AI. They’re fostering a culture of innovation through experimentation,” Parker added. “By reinvesting early gains in technology, talent, and data, these companies are building a sustainable AI ecosystem, creating a flywheel of innovation that will continue to drive growth and competitive advantage in the years to come.”
