CEOs Recognize AI’s Potential but Fear Knowledge Gaps, Study Finds
How CEOs aim to harness the multi-dimensional merits of AI while combating persistent knowledge gaps that limit growth in the digital age.
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A new study from Cisco highlights a growing paradox among CEOs: while nearly 80% acknowledge artificial intelligence’s (AI) transformative potential and plan to integrate it into their operations, many are concerned that gaps in their understanding could hinder critical decisions, stifling growth and risking missed opportunities.
Despite the challenges, CEOs are determined to move forward. With support from IT leaders and trusted partners, they are focusing on empowering their workforce, modernizing infrastructure, and enhancing cybersecurity to stay competitive in an AI-driven future.
Jeetu Patel, Cisco’s Chief Product Officer, stressed the urgency of action: “In a dynamic landscape where competition is fierce, speed decides the winners. Leaders who act decisively today to build resilient, future-proofed networks will be the AI-forward leaders driving real value for their business. Eventually, there will be only two kinds of companies: those that are AI companies, and those that are irrelevant.”
The Cost of Inaction
The research also reveals that 70% of CEOs fear that a lack of technological investment could lead to falling behind competitors. Over half (53%) worry this will cost them a competitive edge, while two-thirds express concern over opportunity costs. CEOs also expect higher operating costs, reduced productivity, and declining market share if they don’t act now.
The CEO’s Roadmap: People, Infrastructure, and Cybersecurity
For those willing to confront these challenges, AI offers significant rewards. CEOs are increasingly turning to AI to drive efficiency (69%), spur innovation (68%), and outpace competitors (54%). However, achieving these goals requires overcoming barriers such as skills shortages, infrastructure gaps, and security risks.
While CEOs focus on the bigger picture, their CIOs and CTOs often deal with more operational issues, such as a lack of compelling business use cases for AI. This reflects AI’s exploratory phase, with 82% of CEOs recognizing its potential but still working to fully harness it.
Oliver Tuszik, President of Cisco EMEA, emphasized the opportunity AI presents: “Whole businesses will be revolutionized if they can unlock AI’s potential to innovate faster, simplify operations, and withstand digital disruptions. But no one can do it alone. That’s why 96% of CEOs are leaning on trusted partners to make the leap.”
CEOs are investing in talent development, upgrading infrastructure, and enhancing cybersecurity to tackle these challenges. Nearly 80% recognize the crucial role of their CTOs and CIOs in guiding decisions. With expert support, CEOs are positioning their businesses to harness AI’s potential and stay ahead of competitors.
Cisco’s upcoming solutions will address skills shortages, infrastructure gaps, and security risks to help organizations succeed in the AI era. The study, conducted by Opinion Matters, surveyed 2,503 CEOs from companies with 250+ employees worldwide
