Generative AI: a 7% (or almost $7tn) increase in global the global context will be contingent on 6 An opportunity for Swiss GDP over a 10-year period . Yet even as leveraging the opportunities presented industry welcomes the potential of GenAI, by GenAI while navigating the risks and innovation, growth and there is broad consternation about its regulatory complexities. Sustaining growth competitive advantage. concomitant risks. These risks include is one thing but leveraging innovation to breaches of data privacy, manipulation of secure competitive advantage will mean data, and uncertainty around the impact carefully balancing being fast and decisive As we go into 2024, generative AI (GenAI) of intelligent automation on jobs. There with being ethical and safe. If Switzerland has captured the attention and the is also concern around the multitudes of seeks to disrupt – and avoid being imagination of organizations worldwide. biases in the alogithms translating into disrupted by GenAI – key questions must Spearheading the shift from cataloguing suboptimal or discriminatory outcomes, as be answered: to creating data is next-generation well as hallucinations – false or inaccurate AI:; transformer-based deep neural information presented as fact. Then there’s • What are the skills and capabilities network tools that are revolutionizing the speed of innovation itself. required by Swiss organizations how human beings produce content, and workers in a world where AI is write code, perform tasks, invent new As developments in GenAI race ahead, changing the anatomy of work9 and ideas and products, and solve complex authorities have struggled to keep how can we continuously develop and problems. This is a revolution that is pace. Regulating GenAI, and reining in adapt these capabilities? happening at unprecedented speed and its dangers, is contingent on 昀椀rst fully Which pathway should Swiss scale, though GenAI is still in its infancy. understanding what those dangers are. In • McKinsey estimates that around a third of this sense, GenAI is something of a moving regulators and organizations follow to organizations globally already use GenAI target. In this uncertain and fast-changing navigate risks while supporting Swiss technologies in at least one business context, some nations are emerging as growth and competitiveness on the function, while three quarters of IT leaders GenAI powerhouses. The US and China global stage? and executives fully expect to see GenAI are leaders in GenAI investment and In this report, we leverage proprietary “signi昀椀cantly reshape” their industry’s development and India and the African survey data and the expert perspectives competitive environment between now Union are forging ahead in terms of digital 4 shared in two workshops to shed light and 2026 . infrastructure – with the latter ramping on where we are in GenAI in Switzerland up efforts to redress “Western bias” in today as well as the key challenges ahead The meteoric rise of GenAI is fueled by the 7 promise of productivity and revenue gains AI training data . Meanwhile, the US and of policymakers, business leaders, and that come with adoption. Industries such the EU are stealing something of a march providers on continuing education in 2024 on regulation. Washington has published and beyond. as banking and retail could see additional 8 revenue to the tune of $400bn or more a blueprint for its new AI Bill of Rights , while in Europe, the EU AI Act seeks to 5 per year , while research by Goldman ensure that the EU remains competitive in Sachs suggests that the adoption of this shifting and uncertain environment. GenAI technologies could translate into Sustaining growth and staying relevant in