GenAI is rapidly transforming product development, with many product teams now using this technology to accelerate processes and improve outcomes. Although awareness of core genAI tools is widespread, product leaders face significant obstacles: slow approval processes, overwhelming tool choices, unclear lifecycle fit, uneven organizational maturity, integration challenges, and persistent trust issues. Nevertheless, genAI is delivering benefits across the entire product lifecycle, from market intelligence gathering and ideation to user story creation all the way to product sunsetting. This report discusses the status of these efforts and how to accelerate adoption of genAI tools.