Deloitte Center for Integrated Research

Organizations are making big bets on generative AI.

Nearly 80% of business and IT leaders expect gen AI to drive significant transformation in their industries in the next three years.1 Global private investments in gen AI have skyrocketed, increasing from roughly US$3 billion in 2022 to US$25 billion in 2023.2 And that pace continues unabated with some US$40 billion in global enterprise investments projected in 2024 and more than US$150 billion by 2027.3 These efforts toward transformation may take on added importance as economists anticipate that labor force participation will decline in the coming years as the population ages, suggesting a need to boost productivity.4 In a world where some forecasts suggest dramatic advances like artificial general intelligence may be possible by the end of this decade,5 or a digital twin attending meetings on your behalf within five years,6 the possibilities for gen AI seem limited only by one’s imagination.

It’s a world where most don’t want to be left behind: Online references to FOMO—the “fear of missing out”—have increased more than 60% in the past five years.7 Though not specific to gen AI alone, the sentiment captures the reality that uncertainty underlies any bet, and the level of uncertainty regarding gen AI’s impact on the enterprise is significant.8 Predictions for growth and opportunity highlight one possible future, but a future where AI advances slow down and organizations encounter significant financial barriers to scaling and growing their AI capabilities is also possible.
How can organizational leaders wrap their minds around the future of AI in the enterprise and develop the best strategies to meet whatever comes?