Chinese execs more upbeat on AI contributions

About 80 percent of Chinese business leaders expect the pace of technological disruption to accelerate even further in 2024, while 92 percent regard fast-developing generative artificial intelligence as more of an opportunity than a threat, being generally more sanguine on the transformation than their foreign corporate peers, according to a new report from global consultancy Accenture.

The report indicated that company executives worldwide ranked technologies catapulted by advances in generative AI as the top factor affecting business environment transformation, and 77 percent of interviewed Chinese enterprises view generative AI as more beneficial to revenue growth than cost reductions.

Moreover, 80 percent of the surveyed Chinese business leaders expect revenue growth to speed up this year, higher than their global peers (68 percent). Despite their optimism, 62 percent of Chinese executives say they are not fully prepared to respond to the changes they will face in the business environment.