Finnish leaders are very optimistic about how generative AI will improve efficiency, both for employees and at the executive level. A remarkable 66% of Finnish CEOs expect a significant increase in efficiency in their employees' time at work, reflecting their expectations for their own work time. This is close to the global feeling, where 64% predict similar improvements in workforce efficiency and 59% in their personal capacity as leaders. This indicates a common belief that generative AI will make workflows more efficient, automate mundane tasks, and enable a focus on higher-value activities.
Regarding profitability, Finnish CEOs are somewhat more careful than their global peers, with 29% expecting a major increase compared to 46% worldwide. This may show a more prudent financial outlook, or an awareness of the initial investments needed to integrate AI effectively. Revenue expectations follow a similar trend, with 20% of Finnish leaders expecting a notable increase against 41% globally. Interestingly, both Finnish and global leaders are least optimistic about the possibility for generative AI to increase headcount, with only 5% and 13% respectively expecting growth. The majority expect little to no change, or even a decrease, which could imply an expectation that AI will make certain roles unnecessary or that efficiency gains will reduce the need for more hires.
This data shows a broader understanding of generative AI as a tool that improves efficiency and possibly reshapes profitability. However, it also highlights the need for a careful approach to integrating these technologies, considering the possible effects on workforce dynamics and the wider economic impact. As organizations adopt AI, these insights from business leaders provide useful benchmarks for setting strategic priorities and managing expectations.
The data from the annual global CEO Survey focusing on the Finnish market shows interesting attitudes towards generative AI and its growing role within organizations. With 49% of Finnish CEOs stating that generative AI has been adopted across their companies, there's a clear acceptance of this technology. This number slightly exceeds the global adoption rate of 32%, suggesting that Finnish companies are leading the way in implementing generative AI solutions. Moreover, 46% of Finnish leaders admit that their technology strategies have changed to include generative AI in the last 12 months, emphasizing its increasing influence on strategic planning.
Looking ahead, Finnish CEOs exhibit strong confidence in the positive impact of generative AI on product and service quality, with 73% agreeing that improvements will be seen in the next 12 months. They also recognize the potential of generative AI to enhance trust with stakeholders, as 71% agree with this view. This outlook matches the wider global consensus but with a more pronounced optimism within the Finnish context. On the topic of value creation, delivery, and capture, 63% of Finnish business leaders agree that generative AI will significantly change these areas, again showing a higher rate than the global average.
Over the next three years, the expectation that the workforce will need to develop new skills due to generative AI stands at a significant 78% among Finnish CEOs, which is almost aligned with the global perspective. This reveals a clear recognition of the transformative effect of AI on the labor market and the skills required. Similarly, the majority of Finnish leaders (61%) anticipate an increase in competitive intensity in their industry due to generative AI, a view echoed globally. This emphasizes the urgency for companies to adapt to a fast-changing landscape where generative AI plays a key role in determining competitive advantage.
These insights from Finnish CEOs reflect a forward-thinking stance towards generative AI, marked by a readiness to adopt new technologies, adapt to changing market dynamics, and invest in the future skills of their workforce. The results not only showcase Finland's proactive approach towards AI but also the broader implications for global markets as generative AI becomes an essential part of business strategy and operations.
Additionally, the annual global CEO Survey reveals significant worries among Finnish CEOs regarding the possible risks associated with the use of generative AI technologies within their organizations. A main concern is cybersecurity risk, with a large 80% of Finnish business leaders agreeing that generative AI is likely to increase this risk in the next 12 months. This is much higher than the global average of 64%, indicating a higher awareness or possibly a more cautious approach towards cybersecurity in the Finnish business ecosystem.
Another area of worry is the spread of misinformation, with 73% of Finnish CEOs acknowledging the risk of its increase due to generative AI, again exceeding the global concern level of 52%. The concern around misinformation is particularly notable, reflecting the wider implications of AI in information integrity and the potential challenges it poses in ensuring the authenticity of content.
Legal liabilities and reputational risks are perceived as less of a threat, with 39% of Finnish leaders expressing agreement that these will increase. This is somewhat aligned with the global perspective of 46%. However, it highlights a recognition that while AI presents numerous opportunities, it also carries the potential for legal and reputational challenges, likely due to the evolving nature of AI governance and ethical standards.
Furthermore, the survey indicates that 34% of Finnish CEOs are worried about generative AI introducing or worsening bias towards specific groups of customers or employees. This is virtually identical to the global response, suggesting that this is an internationally shared worry. The recognition of bias reflects a nuanced understanding of the ethical dimensions of AI deployment and the imperative for fair AI systems that do not reinforce existing inequalities.
These responses capture the dualistic view of generative AI as both a transformative force for business innovation and a source of new, complex challenges. Finnish leaders are evidently proactive in recognizing the possible risks and are presumably taking steps to mitigate them. As companies globally and in Finland continue to integrate AI into their operations, the emphasis on addressing these risks is crucial for maintaining trust, ensuring compliance with legal standards, and safeguarding their reputations in an increasingly digital and AI-driven business environment.
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