According to the EY CEO Outlook Pulse 2023 survey of 50 Indian CEOs, a significant number of CEOs are prioritizing investments in generative AI to maintain a competitive edge. To fund these AI-related initiatives, 84% of respondents are either raising new capital or reallocating funds from other projects or technology budgets. However, 62% of CEOs express concerns about the rapid progress of generative AI and the regulatory environment, impacting their capital allocation decisions. The survey also reveals that CEOs globally acknowledge the impact of generative AI on the workforce as a key concern. Additionally, 80% of respondents mention the uncertainty surrounding generative AI as a challenge that makes it difficult to act quickly. The study highlights the increasing focus on generative AI among CEOs and the need for careful consideration of the regulatory environment.