85% of Executives Unprepared for Responsible AI Implementation, HCLTech-MIT Study Reveals

Curated by THEOUTPOST

On Thu, 23 Jan, 12:06 AM UTC

3 Sources

Share

A recent study by HCLTech and MIT Technology Review Insights highlights a significant gap between recognizing the importance of responsible AI and the ability to implement it effectively in businesses.

Widespread Recognition of Responsible AI Importance

A recent study conducted by HCLTech and MIT Technology Review Insights has revealed a significant disconnect between the recognition of responsible AI's importance and the readiness to implement it effectively. The report, titled "Implementing Responsible AI in the Generative AI Age," found that while 87% of business executives consider responsible AI principles critical, a staggering 85% admit they are not adequately prepared to adopt them 12.

Key Challenges in Responsible AI Adoption

The study identified several key challenges hindering the adoption of responsible AI:

  1. Complexity of implementation
  2. Lack of expertise
  3. Difficulties in managing operational risks
  4. Regulatory compliance hurdles
  5. Insufficient resource allocation

Steven Hall, President of Europe and Chief AI Officer of ISG, commented on this disparity, stating, "Everybody understands how transformative AI is going to be and wants strong governance, but the operating model and the funding allocated to responsible AI are well below where they need to be given its criticality to the organization" 1.

Optimism and Future Investments

Despite these challenges, the study found a silver lining. Many enterprises are planning to increase their investments in responsible AI over the next twelve months 2. This indicates a growing awareness of the need to bridge the gap between recognizing the importance of responsible AI and implementing it effectively.

Agentic AI and Wider Adoption

The report also highlighted the progress of AI-driven transformation from proof of concept to wider adoption. There is growing interest in AI applications across various business functions, including customer service, software development, and marketing. Additionally, agentic AI, which operates autonomously with minimal human involvement, is gaining traction in lower-risk areas such as IT operations 13.

Preparedness for AI-Related Issues

While half of the respondents feel confident in managing operational risks associated with AI, fewer than 25% are prepared to address user adoption, change management, and bias-related issues 1. This underscores the need for a more comprehensive approach to responsible AI implementation.

Recommendations for Enterprises

To support responsible AI adoption and close the "readiness gap," HCLTech has provided several key recommendations:

  1. Architect a robust set of enterprise-guiding frameworks and capabilities for responsible AI
  2. Leverage tech partner ecosystems to pilot, test, and learn from best practices
  3. Establish a dedicated team or Center of Excellence to drive cross-functional implementation 2

HCLTech's Proactive Approach

In response to these findings, HCLTech has established an Office of Responsible AI and Governance. This office is led by subject matter experts with experience in frameworks such as NIST and the Europe AI Act. It focuses on co-innovation, consulting capabilities, and intellectual property solutions related to responsible AI 12.

As Vijay Guntur, CTO & Head of Ecosystems at HCLTech, emphasized, "AI can be a tremendous force of positive change in businesses and society at large, but its full potential can only be realized when it can be trusted" 2.

The study's findings underscore the urgent need for businesses to bridge the gap between recognizing the importance of responsible AI and implementing it effectively. As AI continues to transform various industries, addressing these challenges will be crucial for organizations to harness its full potential while maintaining ethical standards and public trust.

Continue Reading
Industry Leaders Embrace Responsible AI for Improved

Industry Leaders Embrace Responsible AI for Improved Decision-Making and Governance

A new report by Primus Partners reveals that 75% of industry leaders believe responsible AI can significantly enhance decision-making and governance. The study highlights the growing importance of AI in various sectors and the need for ethical implementation.

Analytics Insight logoCXOToday.com logo

2 Sources

Analytics Insight logoCXOToday.com logo

2 Sources

93% of Large Companies View AI as Essential, but Face

93% of Large Companies View AI as Essential, but Face Severe Talent Shortage

A recent survey reveals that while the vast majority of large companies recognize AI as crucial for success, they are grappling with a significant shortage of skilled AI talent. This disconnect highlights the growing challenges in the rapidly evolving field of artificial intelligence.

The Financial Express logoEconomic Times logoBusiness Standard logo@businessline logo

5 Sources

The Financial Express logoEconomic Times logoBusiness Standard logo@businessline logo

5 Sources

Generative AI Reshaping Business Strategies in India:

Generative AI Reshaping Business Strategies in India: Balancing Transformation and Cost

A comprehensive look at how Generative AI is transforming business strategies across various sectors in India, highlighting the balance between innovation and cost-effectiveness, and the challenges in adoption.

Inc42 Media logoCXOToday.com logo

2 Sources

Inc42 Media logoCXOToday.com logo

2 Sources

Businesses Struggle to Capitalize on AI Due to Poor Data

Businesses Struggle to Capitalize on AI Due to Poor Data Foundations, MIT Report Reveals

A new report by MIT Technology Review Insights and Snowflake highlights that 78% of businesses are unable to fully leverage their AI investments due to inadequate data management, despite high expectations for AI's potential to drive innovation and efficiency.

CXOToday.com logoTechRadar logo

2 Sources

CXOToday.com logoTechRadar logo

2 Sources

Organizations Struggle with AI Readiness Despite Increasing

Organizations Struggle with AI Readiness Despite Increasing Urgency

A recent survey reveals that only 13% of organizations feel fully prepared to leverage AI's potential, despite growing pressure to adopt the technology. Companies face challenges in infrastructure, skills, and measuring AI's impact.

ZDNet logoCisco Blogs logoTechRadar logo

3 Sources

ZDNet logoCisco Blogs logoTechRadar logo

3 Sources

TheOutpost.ai

Your one-stop AI hub

The Outpost is a comprehensive collection of curated artificial intelligence software tools that cater to the needs of small business owners, bloggers, artists, musicians, entrepreneurs, marketers, writers, and researchers.

© 2025 TheOutpost.AI All rights reserved