They prefer to deal with the risks as they come.
3 in 10 (33.3%) of CEOs in Hong Kong have admitted that their primary strategy towards the disruptions brought about by the increasing penetration of artificial intelligence (AI) technology and job automation is a passive approach of dealing with the complications as they come, according to a survey from Economist Corporate Network (ECN).
Top-level management have an important role in preparing their workforce for the onslaught of automation that is likely to displace workers across all industries.
Hong Kongers could learn a thing or two from Indonesia where 7 in 10 (71.2%) CEOs admit to proactively leveraging technology to prepare for the AI onslaught.
China posts a stronger front as none of those surveyed said that they are passively dealing with the risks and our either proactively studying the technology and applying it to their IT infrastructure or pursuing the opportunities the technology brings.
The report revealed the glaring unpreparedness of CEOs as only 1 in 10 (1.2%) of Asia Pacific CEOs have admitted that they are fully prepared to withstand the disruptions brought about by AI.
The survey revealed that despite the fact that many businesses have already started to feel the impact of automation creeping into their businesses, many APAC CEOs believe they have two to three years more before these technologies fully hit their companies – a dangerous misconception as AI and automation are already here and now.
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