CEOs expect the growth rate of artificial intelligence investments to more than double during the next two years, prompting an increase in AI-related hiring and reskilling initiatives, according to a May 6 report from IBM’s Institute for Business Value.
In a survey of 2,000 CEOs worldwide, 61% said they’re actively adopting AI agents and preparing to implement them at scale, yet half said recent rapid investments have led to disconnected technology and expertise.
“As AI adoption accelerates, creating greater efficiency and productivity gains, the ultimate pay-off will only come to CEOs with the courage to embrace risk as opportunity,” Gary Cohn, IBM vice chairman, wrote in the foreword of the study. “Meaning, focusing on what you can control, especially when there is so much you can’t.”
Nearly 7 in 10 CEOs said their organization’s success depends on maintaining a broad group of leaders with a deep understanding of strategy and the authority to make critical decisions, the report found.
In addition, 67% said differentiation depends on having the right expertise in the right positions with the right incentives. However, the top barriers to innovation include a lack of collaboration across organizational silos, an aversion to risk and a lack of expertise.
In response, CEOs said about a third of the workforce will need retraining or reskilling during the next three years. In tandem, 65% of CEOs said their organization will use automation to address skill gaps.
Notably, 54% of CEOs said they’re hiring for roles related to AI that didn’t exist a year ago.
C-suite leaders are grappling with conflict and silos amid their AI adoption plans, according to a Writer survey, similar to the barriers cited by IBM. About two-thirds of leaders said AI tools have led to division between IT teams and other teams, as well as between executives and employees. Some employees even admitted to “sabotaging” their company’s AI strategy or refusing to use AI tools, Writer said.
At the same time, most job seekers recognize the importance of digital fluency skills, according to a CompTIA report. Employees and job seekers alike said they’re looking to build their skills, particularly in soft skills, data analysis, cybersecurity and AI-related tools.
Among workers who use generative AI regularly, productivity increases about 33% for every hour they use it for their work, according to a study by the Federal Reserve Bank of St. Louis. On average, workers who used AI daily saved four hours or more, the report found.
