CEOs admit they are afraid of artificial intelligence | Business

These insights are among the findings of a global survey conducted by Cisco, which interviewed 2,503 CEOs from companies with over 250 employees across five continents—including 501 respondents from South America—in a study shared exclusively with Valor. “More than half of the CEOs surveyed fear that this knowledge gap could put market opportunities at risk,” says Renier Souza, Cisco’s Chief Technology Officer and Director of Engineering in Brazil.

According to Mr. Souza, the study revealed a paradox: while 82% of CEOs say they understand the potential benefits of AI for their business, 74% acknowledge that their own knowledge is a barrier to making better-informed decisions or asking more critical questions of their boards. “There’s a lot of pressure to implement AI,” Mr. Souza explains. “Even though CEOs are well-versed in their business, if they don’t understand the technology, it’s difficult to know where or how to apply it effectively.”

Senior executives largely agree on AI’s potential. Nearly 70% of CEOs believe the technology can boost operational efficiency, reduce costs, and drive innovation through new products and services. Still, Mr. Souza stresses that CEOs must have a basic grasp of AI concepts, such as the distinction between predictive and generative AI. Predictive AI, he notes, is far more commonly used in businesses today, as it analyzes customer patterns, images, and behaviors—particularly in marketing applications.

The rapid rise of generative AI has created a climate of urgency that, according to Mr. Souza, is increasingly being felt in the C-suite. “CEOs feel they can’t afford to waste time—they need to invest quickly and wisely,” he says. Yet, he cautions, “In some cases, investing in generative AI may not be the best path for the business.” Still, for 54% of respondents, the fear of missing out on opportunities is driving their AI investment decisions.

While more than 70% of CEOs express concern about falling behind competitors due to gaps in network infrastructure and cybersecurity, a lack of internal preparedness also stands out. Twenty-six percent cite their own limited knowledge, while 40% point to insufficient skills within their organizations. Alarmingly, 58% say their lack of understanding of AI could hurt their company’s growth over the next five years.

Mr. Souza emphasizes that AI—especially in its generative form—is still new territory for everyone, even for younger professionals. “One recent shift in the network technology market is the move toward programmability,” he explains. “Many people have learned to configure equipment manually. However, the newer generation works with automation and programmable systems. That trend has gained momentum.” Now, he adds, a new wave of reskilling is needed: “Training for generative AI will be essential for everyone.”

Recognizing this, 61% of CEOs say they are already planning to improve AI education within their organizations, and 51% cite the need to upskill their workforce. “One of the biggest barriers to AI adoption is people,” Mr. Souza says. “The message from CEOs is that their teams aren’t ready. After that, the main challenges are security, infrastructure, and budget.”