Two of every three CXOs say GenAI will have existential impact: EY

Around two out of every three top company executives in India feel that generative artificial intelligence (GenAI) will have an existential impact on their businesses, according to a recent study by EY. Around 64 per cent of CXOs believe that their organisation’s readiness for leveraging GenAI is either “very low” or “moderate”.

The study also says that GenAI can provide value-uplift for internal support functions of tech companies. The technology can create a 30 to 40 per cent impact on sales and marketing, and on functions such as finance, legal and procurement.