Generative AI is rapidly gaining traction, with 87% of C-suite executives in charge of supply chain and production planning intending to increase their investments in this technology, according to the Accenture Pulse of Change survey. Moreover, 85% of these executives anticipate reaping the benefits of their generative AI investments by 2024. The survey, conducted in March 2024 and spanning 2,800 C-suite executives across 18 countries and various industries, highlighted the pressing need for better understanding and widespread training in generative AI within organizations.
Key findings from the survey include a decline in personal usage of gen AI tools among executives, from 71% six months prior to 42% presently. Additionally, over half of the respondents believe their organizations require intermediate-level training in generative AI, while 40% advocate for advanced training. However, only 15% of respondents express high confidence in their organizations’ data strategy and digital capabilities to effectively leverage generative AI.
Maria Rey-Marston, PhD, Innovation Lead for Accenture’s global supply chain and operations business, emphasized that generative AI is fundamentally altering how executives perceive data, talent, processes, and work methodologies. She cautioned against regarding generative AI as just another technology and stressed the importance of understanding and preparing for its transformative impact on work processes and skill requirements.
Despite the potential benefits, only 14% of organizations have fully integrated responsible data and AI models into their operations, according to the survey. Accenture’s earlier report suggested that generative AI could automate or augment 58% of processes within supply chains, streamlining tasks such as demand and capacity planning, sourcing and procurement assistance, and machinery maintenance scheduling.
In the United States, over 40% of working hours in supply chain functions could be influenced by automation and augmentation, potentially reshaping roles across procurement and production planning.