3. Lack of IT readiness The rapid evolu�on of AI technologies has highlighted that many organiza�ons are underequipped to fully par�cipate because the AI game is con�nually changing. The realiza�on that their current IT infrastructures are not equipped to support advanced AI func�ons has prompted a renewed interest in upgrading technical capabili�es. Interes�ngly, our study found this concern is more urgent for major companies in otherwise technically advanced sectors, such as Life Sciences, Banking, Financial Services and Insurance, and the Technology industry itself, where they have already seen more use cases for ar�ficial intelligence and are realizing the possibili�es are endless if they could take full advantage of it. 4. Talent development and training As AI transforms job roles, the demand for AI-related skills surges. Companies are now priori�zing the development and training of their workforce in AI literacy and technical competencies to bridge the skills gap. Industries like Technology and professional services are inves�ng in con�nuous learning programs to ensure their workforce can not only work alongside AI but also innovate with it, a trend likely to find its way across industries in the next three to five years. 5. Cultural shi�s As AI use moves more widely across the corporate realm beyond proofs-of-concept, its full integra�on requires corporate cultures that embrace innova�on, con�nuous learning, and adaptability. Corporate leadership teams are now recognizing the necessity of fostering a work environment conducive to AI adop�on, where employees are encouraged to engage with new technologies posi�vely. In fact, a quarter of our survey respondents told us that they now see Genera�ve AI as a catalyst for fostering a culture that embraces AI technologies. With �ghtening IT spend budgets, the need to demonstrate ROI of AI implementa�ons is essen�al. As the integra�on of AI into business processes accelerates, the financial aspect of its implementa�on becomes increasingly significant. When asked about enterprise-specific large language models (LLMs), for example, about half of those surveyed said they are planning to build their own for GenAI implementa�ons. TCS AI for Business Study Key Findings Report 24