CGI Study: How AI is Driving Global Business Growth

As AI transcends across the world, it offers opportunities for innovation, efficiency and growth to businesses globally.

Yet this means that AI is now becoming essential for companies to keep competitive edge. 

Whilst companies worldwide grapple with balancing the cost control and expansion of AI as well as its possibilities against ethics and responsibility, it has become a central focus for executives seeking to navigate this complex environment.

However, this shift towards AI-centric strategies is not occurring in isolation, it is part of a broader trend of digital transformation that has been accelerating over the past decade.

In this context, CGI, a leading global IT and business consulting services firm, has released its annual proprietary research, providing insights into the priorities and strategies of business and technology leaders across the globe.

The study, based on more than 1,800 in-person interviews with executives, of which 80% are C-level, offers a comprehensive view of the current business landscape and the role of technology in shaping future strategies.

The 'AND' agenda: balancing growth with efficiency

According to CGI, business leaders are pursuing a dual agenda that seeks to drive growth and innovation while simultaneously controlling costs and improving efficiency.

This approach, dubbed the 'AND' agenda, reflects the complex challenges facing organisations in today's business environment.

In the UK for instance, the top business priority for organisations is to optimise their processes through digitisation, automation and AI, with 32% of respondents citing this as a key focus.

This is closely followed by controlling costs and increasing profitability, mentioned by 27% of respondents and improving customer or citizen experience and centricity, highlighted by 25% of those surveyed.

This dual focus on growth and efficiency is not unique to the UK.

Globally, organisations are recognising the need to innovate and expand while also maintaining tight control over costs.

The adoption of AI and other digital technologies is seen as a key enabler of this strategy, allowing companies to streamline operations, reduce overheads and create new revenue streams simultaneously.

Tara McGeehan, President of CGI in the UK and Australia, comments on this trend: "The results in the UK and globally demonstrate clearly one thing: this is an 'AND' year.

Businesses want growth and cost control, they want innovation and ROI. Achieving this isn't impossible, but it does mean a clear and strategic focus to deliver tangible business outcomes that all organisations are striving for."

AI adoption accelerates as digital leaders pull ahead

The research also reveals a growing divide between digital leaders – those organisations seeing the most value from their digital strategies – and the rest of the pack.

Globally, 80% of digital leaders report that their digital strategies are making a strong impact on their business model, although this figure is slightly lower in the UK at 68%.

This gap underscores the importance of continued investment in digital transformation initiatives, as those leading the charge reap significant benefits across various business metrics.

Furthermore, digital leaders are not only seeing improved operational efficiency but are also better positioned to respond to market changes, innovate new products and services and enhance customer experiences.

For instance, the adoption of AI, particularly generative AI (Gen AI), is accelerating rapidly as organisations seek to leverage its potential for growth and efficiency.

In the UK, 87% of respondents are experimenting with Gen AI, compared to 79% globally, indicating a strong appetite for this emerging technology.

This high level of interest in Gen AI reflects its potential to revolutionise various aspects of business operations, from content creation and customer service to product development and decision-making processes.

The challenges of AI evolution

However, the rapid adoption of AI also brings challenges.

Organisations must grapple with issues such as data quality and availability, ethical considerations and the need for AI-literate talent.

However, the research suggests that digital leaders are better equipped to navigate these challenges, having already established robust data infrastructures and digital-first cultures.

The research also highlights a growing alignment between business and IT operations in executing shared strategies.

In the UK, 92% of IT leaders and 94% of business leaders agree there is a strong level of alignment to support their organisation's strategy, reflecting a shift towards more collaborative and integrated approaches to technology adoption and business transformation.

This alignment is crucial for the successful implementation of AI and other digital technologies.

It ensures that technological initiatives are closely tied to business objectives and that the entire organisation is working towards common goals.

This collaborative approach is particularly important in the context of AI adoption, which often requires significant changes to existing processes and ways of working.

Dr. Diane Gutiw, Vice President and Global AI Research Lead at CGI, emphasises the transformative potential of AI: "AI presents a paradigm shift that we haven't seen since the adoption of the internet.

“As CGI's global research demonstrates, industry executives are pursuing AI to evolve entire business models, inform critical decisions, increase efficiency, and accelerate both savings and growth."

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