2023 KPMG Generative AI Survey

Generative AI: From buzz to business value

An exclusive KPMG survey shows how top leaders are approaching this transformative technology.

June, 2023 update

Generative AI technology is advancing at a rapid pace, and so is our analysis of it.

KPMG conducted two surveys of US executives to understand their perspectives on generative AI: the first in March 2023 was conducted right in the midst of the inescapable buzz that followed the launch of ChatGPT. As the initial hype receded, we went back to check with business leaders to see how their thinking on generative AI has changed. In June of 2023, we again surveyed 200 US business executives across industries in organizations with $1 billion or more in revenue on their views of generative AI.

The surveys shed light on emerging trends in the use of generative AI in business, including both the opportunities and threats executives believe generative AI has created.

Our March report also offers insights from KPMG advisory professionals in AI, technology enablement, strategy, human capital, and risk management. They looked at managing the challenges and opportunities associated with generative AI, including the human element, the evolving regulatory environment and how to harness AI in a trusted manner, and the implications it has for the workforce. They share thoughts on how you can responsibly integrate generative AI to empower employees, work smarter, and compete better — and what you can do right now to seize the advantage.

Below are some of the latest insights we discovered.

Key takeaways An evolution of perspectives from March to June

Top emerging technologies

Generative AI continues to be seen as the top emerging technology. When asked in June 2023, 3 in 4 business leaders find it will be a top three emerging technology over the next 12-18 months. When asked in March 2023, 78% selected generative AI as the top emerging technology over the next 3-5 years.

Functional area impact

IT/Tech, operations, and marketing and sales are the top functional areas that are anticipated to be impacted the most by generative AI, ranking highest among business leaders in both March and June.

Barriers to implementation

Lack of skilled talent remained a top three barrier to implementing generative AI from March to June.

Risk management priorities

Prioritization of risk management has increased since March across the board. In both March and June, cybersecurity was the top area of risk management that business leaders are prioritizing. Risk management measures around weaponization (the use of generative AI to manipulate public opinion) has increased; 29% of business leaders ranked this as high priority in March and 56% did in June.

Business leaders remain optimistic about the overall impact of generative AI on their workforce and concerns have decreased. In March, 59% of business leaders reported that they predict generative AI will have a net positive impact on workforce. In June, 53% of business leaders report that their headcount will likely expand.

Impact on workforce

In both March and June, there were concerns expressed around the employment implications for the workforce broadly. However, June saw a significant decrease in anxiety about companies replacing their current employees with generative AI. Concerns around reduced opportunity for professional development and advancement (41% vs. 26%) and decreased creativity and innovation (30% vs. 16%) have also reduced. Concern around mental health, decreased social interactions, increased unemployment, and creating roles with niches skills remain similar to our earlier findings.

Business leaders remain focused on generative AI ahead of other emerging technologies

Three in four business leaders (74%) rank generative AI as the top emerging technology that will impact their business over the next year and a half. This is comparable to the results from our earlier survey, where 78% said that generative AI would have the biggest impact on business above all other technologies over the next three to five years.




Generative AI


Augmented reality

Top three emerging technologies leaders believe will have the biggest impact on their business over the next 12-18 months

Barriers to adoption

Respondents were asked to rank their biggest barriers, where 1 is the biggest barrier, 2 is the second biggest, and 3 is third biggest.

 Biggest barrier  Second biggest barrier  Third biggest barrier

Concerns about the regulatory landscape


Inability to pivot legacy applications


Lack of skilled talent to develop and implement

Business leaders believe generative AI is disruptive but will add value

Disruptive effect

Four out of five believe generative AI will disrupt their entire industry; one in five expect it to cause "significant disruption."


 Little to no disruption  Slight to moderate disruption  Moderate to significant disruption  Significant disruption

Perceived value

Nearly all think that generative AI will provide value to their business.


 Little or no value, or too soon to know  Moderate value  Significant value  Will be a competitive game changer

Investment in generative AI is expected to increase

Infrastructure is a top area prioritized for generative AI investment, especially among those that have already deployed the technology.

anticipate increasing investment in generative AI by 50% or more in the next 6-12 months.

plan on increasing infrastructure (cloud and on-premise servers) and computing power.

plan on using generative AI to create scale in business.

say they will invest in AI training.

Most do not believe the regulatory environment will slow generative AI adoption

While they're concerned about the regulatory landscape, it doesn't appear to be impacting their investments in generative AI.

say the uncertain and evolving regulatory landscape impacts their Generative AI investment decisions, but feel confident about handling the requirements.

say they are not pausing at all, or are taking only a short (3-6 month) pause to monitor the regulatory landscape.

Generative AI is expected to have positive impact on the workforce

believe that generative AI will have a positive impact on their workforce.

agree to some extent that generative AI will play a role in allowing their organization’s employees to be more thoughtful and creative by relieving them from manual processes.

Most leaders are confident that they can mitigate risks associated with generative AI

are confident in their ability to mitigate risks associated with generative AI.

of those that already deployed generative AI are confident in their ability to mitigate risks.

Prioritizing effective risk management has increased across the board

rate privacy concerns with personal data as a top risk.

rate cybersecurity as a top risk.

rate legal, copyright, and intellectual property issues as a top risk.

Download the June 2023 survey results.

Download the survey infographic.

Download the full report and discover how KPMG can help you with digital transformation.

2023 KPMG Generative AI Survey:
Industry and functional thought leadership reports

See how leaders in these industries and functions are approaching this transformative technology.

KPMG Generative AI Survey

Consumer and retail

KPMG Generative AI Survey

Financial services

KPMG Generative AI Survey

Energy, natural resources and chemicals

KPMG Generative AI Survey

Industrial manufacturing

KPMG Generative AI Survey

Technology, media and telecom

KPMG Generative AI Survey


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Generative artificial intelligence (AI) has the potential to open up entirely new avenues for improving the user experience and for creating business advantages. It promises to change the way many people work, from how software is developed to how text is written and summarized. See how we can help you make that promise a reality.

Learn more

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Elliot Brook
Principal, Gen AI Lead, Lighthouse, Advisory,
KPMG in the US
+1 781 696 3773

Steve Chase
Principal, US Consulting Leader,
KPMG in the US
+1 214 840 4200

Per Edin
Principal, TMT Strategy,
KPMG in the US
+1 408 367 6080

Emily Frolick
US Leader, The Trusted Imperative,
KPMG in the US
+1 513 763 2453

Sreekar Krishna, Ph.D.
Principal, Advisory, Lighthouse,
KPMG in the US
+1 480 326 6334

Todd Lohr
Principal, Digital Lighthouse Leader,
KPMG in the US
+1 215 300 4600

Felicia Lyon
Principal, Human Capital Advisory,
KPMG in the US
+1 406 425 5878

Bryan McGowan
Principal, Advisory, Technology Risk Management,
KPMG in the US
+1 816 802 5856

Mark Shank
Principal, Advisory, Lighthouse,
KPMG in the US
+1 410 949 2795

Shivam Batra, Radhika Goel, Sandeep Sharma and Pratham Singh contributed to the interpretation of the survey results, provided critical feedback, and delivered the survey analysis.

1Source: https://www.jdsupra.com/legalnews/nyc-delays-enforcement-of-automated-2040364/

2Source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex%3A52021PC0206