Generative AI to Usher in a Bold New Future for Business

Accenture in a new report credits generative artificial intelligence and other rapidly evolving technologies for ushering in a bold new future for business where physical and digital worlds become inextricably linked.

“The next decade will be defined by three mega technology trends—cloud, metaverse, and AI—which collectively will collapse the distance of our digital and physical worlds,” says Paul Daugherty, group chief executive of Accenture Technology. “While generative AI will have far-reaching impact, leaders must dive in now to achieve its full promise, as it will require significant investments in data, people, and customizing foundation models to meet organizations’ unique needs.”

Accenture estimates as much as 40 percent of all working hours will be supported or augmented by language-based AI. Among business leaders, 98 percent agree AI foundation models will play an important role in their organization’s strategies over the next three to five years.

Accenture’s Technology Vision 2023 identifies four trends that are key to unlocking this new shared reality:

• Generative AI: Nearly all executives agree that generative AI will spark significant creativity and innovation (98 percent) and usher in a new era of enterprise intelligence (95 percent), advancing human capabilities as a co-pilot, creative partner, or adviser.
• Digital identity: 85 percent of executives see the ability to authenticate digital users and assets as a strategic business imperative, not just a technical issue.
• My data, your data, our data: AI cannot reach its full potential until companies figure out data. That means breaking down data silos and modernizing data foundations. In fact, 90 percent of executives believe data is becoming a key competitive differentiator within organizations and across industries.
• Our forever frontier: The feedback loop between science and technology is getting faster, with each accelerating the advancement of the other, in ways that 75 percent of respondents believe could begin to unlock the world’s grand challenges.