Indian CEOs Highlight the Crucial Role of AI Governance in Business Transformation

A recent survey reveals that Indian CEOs face challenges in integrating AI without effective governance. The hurdles include workforce adaptation, embracing AI-driven decision-making, and regulatory constraints. CEOs acknowledge that AI governance is vital for deriving business value but find a gap between intentions and execution.

In a recent survey, Indian CEOs have underscored the indispensable role of AI governance as they integrate artificial intelligence into their business operations. Conducted by IBM Institute for Business Value and Oxford Economics, the study revealed that Indian business leaders encounter significant challenges, including workforce adaptation and transforming company culture to support AI-driven decision-making.

The survey, which included 3,000 CEOs from 30 countries, highlighted that while 70 percent of Indian CEOs believe trusted AI is unattainable without effective governance, only 40 percent currently have robust systems in place. Notably, 75 percent advocate for establishing AI governance during the design phase.

Regulatory constraints emerged as the top barrier to innovation for nearly half of the respondents, with 34 percent indicating a need for workforce reskilling in the next three years. The study's findings stress the importance of AI governance for business value and call attention to the gap between CEOs' intentions and their actual implementation efforts.

Sandip Patel, Managing Director at IBM India and South Asia, emphasized the complexity of implementing AI governance and advocated for partnering with trusted experts to develop effective practices and policies.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)