HFS Research, a leading global research and analysis firm, in collaboration with Tech Mahindra, a leading technology consulting and digital solutions to global enterprises across industries, has released a report titled “Stop Dreaming and Start Doing—Your Practical and Urgent Guide to Winning with GenAI.” The study underscores the transformative potential of GenAI for businesses and offers key insights on how enterprises can shift from a visionary “dreamer” mindset to a practical, implementation-focused “doer” mindset.
The survey-based study, including a series of intensive interviews, of 260 enterprise leaders with GenAI experience across North America, the United Kingdom, Europe, and Asia-Pacific tells us the time to hold back on GenAI initiatives is over. Every leader surveyed stated GenAI would be deployed within their IT programs within the next 12-18 months and that its application will be widespread, with 39% saying it will be in more than half of their IT programs in the same timeframe.
The report emphasizes that adopting a proactive “doer” mindset can propel enterprises beyond proof-of-concept (POC) stages and pilot projects, enabling full operational deployment of GenAI. Compared to those still in planning stages, enterprises embracing this approach are five times more likely to achieve functional GenAI deployment, showcasing tangible benefits of practical strategies.
Furthermore, the report urges enterprise leaders to grasp GenAI’s substantial potential while managing associated risks, costs, and compliance considerations. It stresses the urgency of proactive engagement in a rapidly evolving technological landscape, reinforcing the message: “Stop dreaming, start doing.”
Mohit Joshi, CEO and Managing Director, Tech Mahindra, “GenAI is transforming businesses by automating tasks, enhancing content creation, and boosting productivity. At Tech Mahindra, we exemplify how integrating GenAI into core operations drives profound outcomes and fosters innovation to scale at speed. This report underscores the strategic imperative for businesses to embrace GenAI and unlock limitless possibilities.”
According to the study’s author, David Cushman, Executive Research Leader at HFS Research, “New technologies such as GenAI take us into the territory of unknown unknowns. Best practices have yet to be discovered, let alone established. The best way through such uncertainty is to get on and try things – and learn from doing. This research is a ringing endorsement for that approach.”
HFS Research CEO and Chief Analyst Phil Fersht, agrees, “GenAI represents a seismic technological shift, offering unparalleled capabilities to transform business operations. The era of maintaining outdated processes and technologies is over. The choice is clear: innovate or be left behind.”
Other insights from the study include:
- Close to 2/3 of “Doers” are investing in new sources of value and operational improvements.
- Accelerating adoption of GenAI will come down to clarity on ROI, addressing risk, and getting data and people prepared.
- A practical approach to business value, cost, and technical expertise and support were ranked as the top three most important attributes when engaging with GenAI and AI service providers.
- “Dreamers” are nearly 50% more likely to seek a strategic vision from service providers, while doers demand critical delivery capabilities and a willingness to share risks and rewards.