Generative AI (GenAI) continues to transform industries, reshaping how businesses operate, innovate, and compete. Last year, we looked at how Swiss companies were preparing for the impact of GenAI on their organisations. Now, we revisit this topic to see how things have evolved one year on.

Over the past year, Swiss executives' attitudes towards GenAI have shifted. Uncertainty about the technology has decreased (44% to 22%,) while excitement has increased (42% to 54%). The urgency to adopt GenAI tools and applications has increased since last year. While internal pressure from organisational leadership and employees is on par with global sentiment, Swiss executives are facing notably higher pressure from shareholders, stakeholders and competitors than their global peers (46% vs 30%). This is likely due to the lack of perceived attention paid to GenAI applications by organisations and functional areas as shown in Chart 1.

While over half (52%) of Swiss respondents surveyed report having one or more working implementations of GenAI in daily use, this figure is well below the global average of 75 percent. This puts Switzerland more on par with Brazil (46%) rather than top responding nations like the US (83%), UK (80%), Japan, Germany, India (78%), and Singapore (71%).

Although the pace of GenAI adoption is lower in Swiss organisations than in their European counterparts as shown below, it shows that acceleration is taking place likely spurred by a more cautious uptake, wait-and-see-approach, at the outset.

So, how are Swiss companies preparing for the continued rollout of GenAI? In which areas are they investing? What benefits, risks, and value do they perceive? More importantly, do they risk falling behind their global and European counterparts?

Bridging the GenAI readiness gap

Regarding the level of preparedness to adopt GenAI tools and applications, Switzerland lags behind Europe, particularly in the areas of risk and governance, infrastructure, and strategy. Executives in Italy (49%), Germany (48%), and France and Singapore (45%) express higher confidence in their strategic preparedness compared to just 32 percent in Switzerland. While European organisations have made significant strides in integrating GenAI into their strategic frameworks, Swiss companies are still in the early stages of this journey.

As shown in Chart 3, Swiss organisations are most confident in their data management preparedness (38%), yet this confidence falls short compared to their European and global counterparts.

A major concern is the area of risk and governance, where 68 percent of Swiss executives feel moderately or not at all prepared to adopt GenAI tools and technologies. When asked about the time required to resolve challenges around GenAI and fully implement a governance strategy, most Swiss respondents (42%) indicated it would take more than 24 months, whereas globally, most executives believe they can have a governance strategy in place within 12-18 months.

Talent preparedness is another challenge, with 43 percent of Swiss executives estimating it will take 18-24 months or longer to acquire or develop sufficient generative AI-specific talent. In contrast, 58 percent of global executives expect to fill talent gaps within 6-18 months. In Switzerland, nearly one-quarter of respondents (24%) have little expertise in GenAI, more than double the global average (11%). Only one-third (34%) of Swiss executives rated their organisation’s expertise as high or very high, significantly lower than the UK (53%), the Netherlands (53%) or Germany (49%).

Fueling the future with investments in GenAI

Investment in GenAI is a clear indicator of an organisation's commitment to implementing this technology. In the US and Europe, investments in generative AI are significantly higher than in Switzerland, where half of the respondents spend less than 20 percent on their GenAI initiatives as shown in Chart 4.

However, due to external pressures from shareholders and competitors mentioned above, Swiss executives are increasing their investments in AI tools and technologies overall, with 78 percent expecting their investments to somewhat or significantly increase in the next fiscal year. AI enables companies to operate more efficiently, adapt to market demands, and innovate effectively. While the initial investment may be substantial, the long-term gains in productivity, customer engagement, and competitive edge outweigh the costs.

Over half of Swiss respondents (58%) are currently pursuing between 11-50 GenAI experiments or proofs of concept in their organisation, primarily in the areas of R&D, Sales, and IT. This active experimentation phase is setting the stage for broader adoption across various functions.

Swiss companies have the highest level of GenAI adoption in IT/Cybersecurity, Marketing, Sales, Customer Services, and Strategy & Operations as shown in Chart 5.

However, globally, 26 percent of respondents have at-scale implementation in their IT/Cybersecurity functions, with even higher proportions in Europe—Italy (41%), the UK (39%), and the Netherlands (38%). As shown in Chart 3, Swiss respondents feel less confident in their technology infrastructure than their European peers, which could explain the lower scale of GenAI implementation in IT/Cybersecurity.

Swiss companies have significant potential to move from evaluating and piloting to scaling up in both product development and R&D. For instance, 22 percent of companies in the Netherlands and 21 percent in Japan have at-scale implementations in these areas. This can be particularly beneficial for the manufacturing and pharmaceutical industries. However, highly regulated industries like pharmaceuticals in Switzerland may face barriers to integrating AI at scale due to the need for strict compliance, validation, and accountability in R&D processes.

Swiss executives are most likely to consider using GenAI in the areas of legal, risk, and compliance, with 54 percent of respondents evaluating these tools compared to 37 percent globally. This interest is likely driven by Switzerland’s position as a financial hub and its stringent regulatory environment. Additionally, Switzerland’s high labour costs and talent shortages further drive interest in AI to optimise resources. Swiss respondents also have higher trust in GenAI technologies compared to their global peers, with 44 precent expressing high or very high trust in GenAI tools and applications, compared to one-third globally.

Beyond efficiency: achieving value with GenAI

Swiss respondents recognise that GenAI will transform their industries and organisations. The question is when. While over one-fourth of respondents in Europe believe GenAI will transform their industry within the next year, and over one-fifth of respondents in the US believe it is already happening, Swiss respondents anticipate a longer timescale. Swiss organisations now believe that the transformation through GenAI will take longer than they anticipated a year ago.

The key benefit of GenAI across all surveyed geographies is to improve efficiency and productivity. However, Swiss organisations place a higher emphasis than their European and US peers on using GenAI to uncover new ideas and insights and shift workers from lower to higher value tasks. This strategic focus on innovation and workforce optimisation highlights a unique approach within Swiss companies.

Swiss companies are already seeing tangible benefits in several key areas. Notably, 82 percent of Swiss companies report achieving significant benefits in uncovering new ideas and insights, compared to 45 percent globally. Additionally, 47 percent of Swiss companies are realising benefits in encouraging innovation and growth, and 40 percent in improving existing products and services. More than one in four (45%) are seeing some initial benefits in increasing revenue through GenAI tools and applications.

However, Swiss companies are still waiting to see benefits in enhanced relationships with clients and customers, as observed in Italy (52%) and France (47%). A significant majority of respondents in the Netherlands (88%), Australia (64%), and Germany (52%) are seeing strong benefits in using GenAI to detect fraud and manage risks. This is a particularly relevant use case for the Swiss financial services sector, yet only 33 percent of Swiss respondents are experiencing such benefits.

Overcoming barriers in GenAI adoption

As mentioned above, only eight percent of Swiss respondents feel confident in their risk and governance frameworks for rolling out GenAI technologies. This lack of confidence hinders wider adoption. As shown in the chart below, the difficulty in managing risk is the top barrier to adoption in Switzerland, whereas European organisations are more concerned about complying with regulations such as the EU AI Act.

Talent is another critical consideration. As stated above, Swiss respondents estimate it will take 18 to 24 months to either upskill or acquire the necessary technical talent. This talent gap is a significant obstacle to broader adoption of GenAI within Switzerland.

Over the past year, Swiss executives have shown a marked shift in their attitudes towards GenAI, with decreased uncertainty and increased excitement. However, the urgency to adopt GenAI tools and applications is met with pressure from shareholders and competitors, highlighting the need for a strategic approach to adoption.

Despite progress, Swiss companies lag behind their global counterparts in several key areas, including risk and governance frameworks, technological infrastructure, and talent preparedness. To overcome these challenges, Swiss organisations must invest in comprehensive risk and governance frameworks, aligning with international regulatory standards to stay ahead of potential future regulations and build trust with stakeholders.

Addressing the talent gap is also critical for broader GenAI adoption. By investing in training programmes, partnerships with educational institutions, and initiatives to attract global talent, Swiss companies can accelerate the timeline for upskilling and acquiring technical expertise. Highlighting and building on the benefits already achieved in areas such as innovation and product improvement can drive further investment and adoption of GenAI.

Encouraging collaboration across different business functions can enhance the integration of GenAI into strategic frameworks, addressing both risk management and talent development challenges. While Swiss companies excel in targeted investments, expanding focus to broader applications—such as marketing, operations, and customer engagement—can unlock new growth opportunities and drive strategic growth and innovation.

By focusing on these key areas, Swiss executives can better position their organisations to benefit from GenAI’s potential, mitigate risks, and remain competitive on the global stage. The journey towards GenAI adoption may be complex, but with a strategic and proactive approach, Swiss companies can achieve significant long-term gains in productivity, customer engagement, and ultimately, a competitive edge.

About the report: 

This is the fourth in a series of quarterly surveys intended to track the adoption of Generative AI (GenAI) in the enterprise. This research builds from Deloitte’s previous “State of AI in the Enterprise” report which has been running for six years. This wave of the survey, conducted between July and September 2024, connected 2,773 AI-savvy business and technology leaders, including 50 in Switzerland, directly involved in piloting or implementing GenAI at major organisations across 14 countries and six industries: consumer; energy, resources and industrials; financial services; life sciences and health care; technology, media and telecom; and government and public services. The ongoing survey takes the pulse of GenAI adoption offering a view of what’s happening while tracking evolving attitudes and activities, and delivering practical, actionable insights that can help leaders make informed and confident decisions about AI strategy, investment, and deployment.