- Over 70% of CEOs fear AI knowledge gaps hinder growth.
- 69% of CEOs see AI as key to boosting efficiency.
What happened: CEOs fear AI knowledge gaps
A new Cisco study reveals that over 70% of CEOs worry their AI knowledge gaps could slow decision-making. Despite 80% recognising AI’s potential, these gaps hinder business growth. The research shows that insufficient investment in IT and infrastructure is leading to missed opportunities. More than half of CEOs (53%) feel they’re losing their competitive edge due to underinvestment. Two-thirds of them worry about the opportunity costs of not investing more in technology.
CEOs see AI as essential for efficiency. 69% recognise AI’s potential to boost productivity. Additionally, 68% view AI as a driver for innovation, while 54% believe it will help them outpace competitors. However, limitations like infrastructure and security concerns prevent many from fully adopting AI.
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Why it’s important
The Cisco study underscores the growing recognition of AI’s value among CEOs, but also highlights significant barriers to its widespread adoption. Many executives are acutely aware of the need for AI to boost efficiency and foster innovation, yet they are hindered by gaps in knowledge, infrastructure limitations, and security concerns.
The report also suggests that without sufficient investment in technology, businesses could fall behind in an increasingly competitive market. As AI continues to evolve, CEOs must make decisive investments to build resilient networks capable of supporting AI-driven growth. In the fast-paced digital landscape, businesses that fail to act could risk becoming irrelevant, as AI becomes integral to driving innovation and operational efficiency.
