High Understanding of AI Potential
But Lack of Corporate Capability Hinders Adoption
Small Successes Through Pilots Are the Key to AI Implementation
Seven out of ten second- and third-generation successors of family-run businesses worldwide believe that artificial intelligence (AI) is a powerful tool for business innovation, but they remain skeptical about the successful adoption of AI. These successors have a high level of understanding of AI's potential and possess more digital technology experience than the current management, yet they harbor doubts about the successful implementation of AI due to their companies' lack of capabilities.
On the 23rd, Samil PwC released a report titled "AI Adoption and Business Operation Strategies in Family-Run Businesses," presenting these findings. The report was based on a survey conducted by the global accounting and consulting group PricewaterhouseCoopers (PwC), targeting over 900 next-generation leaders of family-run businesses worldwide. These next-generation leaders are owner children aged between 18 and their 40s, expected to serve as responsible executives or board members of their companies.
According to the report, 73% of global next-generation leaders are confident that AI will be a powerful tool for business innovation. However, they remain skeptical about the successful adoption of AI due to their companies' lack of capabilities and shortage of specialized personnel. They demonstrate a high understanding of AI's potential and have more digital technology experience than the current management. The report emphasizes the need to actively involve next-generation leaders in AI adoption within medium-sized enterprises by leveraging this advantage.
For successful AI adoption, the report outlines actions that both current management and next-generation leaders should undertake. In particular, it advises that to engage next-generation leaders in AI utilization, it is important to start with pilot projects rather than large-scale initiatives to experience "small successes." By using AI in individual tasks such as translation, report writing, and disclosure document preparation to create small success cases, companies can progressively achieve improvements in work productivity, quality enhancement, and business innovation.
Lee Ji-hyuk, EPB (Entrepreneurial and Private Business Services) platform leader at Samil PwC, stated, "Compared to large corporations, medium-sized family-run businesses have fewer successful cases of AI adoption, and the unique characteristics of family-run businesses make AI adoption and expansion challenging. We believe that the introduction of AI technology will enable these businesses to perform tasks and make decisions faster and more effectively with fewer personnel, thereby contributing to the innovation of business competitiveness in family-run companies."
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