July 4, 2024. The EU Artificial Intelligence Act (EU AI Act) – the recently adopted and world’s first AI law – has far-reaching implications for the use of technology in all companies operating in the European Union. However, the topic has not yet really arrived in the business world. The IT service provider adesso surveyed 778 decision-makers from companies in Germany, Austria and Switzerland on the topic of Generative AI (GenAI).
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The key result: just 32% of respondents stated that they were familiar with the content of the EU AI Act. The risk-based regulatory approach will play a role in almost all projects involving artificial intelligence (AI) and is expected to come into force as early as August 2024. Even if the gradual roll-out takes until 2026, a sustainable AI strategy should take the provisions of the EU AI Act into account now.
“Dealing with the EU AI Act is essential for the success of solutions based on AI and GenAI. This is the only way to ensure their long-term profitability,” emphasizes Benedikt Bonnmann, Member of the Executive Board at adesso and expert for data, analytics and AI. “A well thought-out guideline such as the adesso Scale AI Framework can make a significant contribution here.”
Even if knowledge of the EU AI Act is still lacking: As expected, respondents attach very high importance to the topic of GenAI. For example, 77% see the technology as an opportunity for their own business model. Expectations are high and optimism is high. In view of this positive basic attitude, the negative assessment of their own GenAI position weighs all the more heavily: 20 percent see their own company as only “sufficiently” prepared for GenAI, 22 percent even as “insufficiently” prepared. In the more than two years since ChatGPT was published, almost half of the companies have not managed to position themselves properly on the topic of GenAI. These are not the best conditions for a successful start in the GenAI world.
The fact that many companies are ill-prepared is reflected in other survey results: When asked about the biggest hurdles to introducing GenAI applications, 31 percent cite the lack of quality or quantity of their own data. This makes this issue a bigger problem in the eyes of the respondents than, for example, the quality of the responses generated (25 percent see this as a hurdle) or the costs of the project (23 percent). This is a clear indication that many companies are neglecting the processes surrounding their own data. Systematic collection, checking, processing and distribution are the basic prerequisites for the successful introduction and use of GenAI applications. Only if companies create these urgently needed foundations as part of a data strategy and by means of a data governance framework will it be possible to achieve the goals they have set themselves: More than three quarters of participants state that their company still intends to implement GenAI applications in the next twelve months.
Benedikt Bonnmann adds: “Getting to grips with data management is the homework of all long-term successful projects with artificial intelligence in the company. Accordingly, time and budget should be allocated to these tasks in every program for the introduction of AI and GenAI.”
adesso conducted two surveys on the topic of GenAI in Germany, Austria and Switzerland in November 2023 and May 2024. A total of 778 managers from companies took part in the surveys.
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👉 www.adesso.de
👉 The EU AI Act and the adesso framework “Trustworthy AI”
👉 GenAI from adesso
Photo: pixabay
