Indian CEOs on AI Governance: IBM Study - Key Findings

New Delhi, Jun 20 (PTI) Majority of Indian CEOs believe that it is not possible to integrate trusted artificial intelligence without effective AI governance within organisations, says a survey.

A recent survey by IBM Institute for Business Value and Oxford Economics revealed that Indian CEOs are grappling with a range of challenges as they rush to integrate and scale generative AI across their organisations.

The hurdles include adapting their workforce to new AI-driven roles, transforming their company culture to accommodate AI-driven decision-making, and establishing effective governance structures to oversee AI development and deployment.

The global study of 3,000 CEOs across 30 countries and 26 industries highlighted the significance of AI governance for Indian business leaders.

According to the study, "7 out of 10 Indian CEOs surveyed say trusted AI is impossible without effective AI governance in organisations. In contrast, only 4 in 10 Indian CEO respondents say they have good generative AI governance in place today."

As many as 75 per cent of Indian CEO respondents said governance for generative AI must be established as solutions are designed, rather than deployed.

However, nearly half (48 per cent) of Indian CEOs surveyed pointed to regulatory constraints as the top barrier to innovation.

With more than 70 per cent surveyed in India believing that AI's success will depend more on its adoption rather than the technology itself, C-suite executives said 34 per cent of their workforce will require retraining and reskilling over the next three years.

The study revealed that 49 per cent of Indian CEO respondents said they are hiring for Gen AI roles that did not exist till last year.

"As Indian CEOs navigate AI-led transformations within their organisations, they recognise the need for AI guardrails so that they derive real business value responsibly for growth and competitive success.

"However, our study reveals a gap between their intention and actual implementation. This scenario highlights the complexity of implementing AI governance, hence making a strong case for partnering with trusted experts to develop and execute effective practices and policies," Sandip Patel, Managing Director at IBM India and South Asia, said.