The Wharton 2024 AI Report is aptly titled “Growing Up: Navigating Gen AI’s Early Years.” It finds that businesses are bullish on AI’s potential but highlights the need for maturity to turn experimentation into impact.
Some key takeaways include:
- Adoption is widespread: More organizations are using GenAI, with activity increasing across functions like marketing, customer service, and operations.
- Value is being realized, but impact is still limited: While most companies report some benefit, only 4% say GenAI has been “highly impactful” so far, underscoring that we’re still in the early phase of meaningful transformation.
- Governance is lagging: Despite rising adoption, few companies have formal usage policies in place, highlighting a gap in structured oversight.
- Investment remains strong, but cautious: Companies plan to continue funding GenAI, though at a slower pace as they work to identify sustainable ROI and prioritize effective use cases.
As users grow more comfortable with the technology, the next phase of adoption will require moving beyond exploration. Businesses must start to rigorously define where GenAI fits - what problems it’s solving, how it’s being used, and how to govern it effectively. The opportunity ahead isn’t just about using GenAI, it’s about using it wisely, with intention and structure.
