Enterprises embrace generative AI, but challenges remain

by | Jul 9, 2024 | Technology

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Less than two years after the release of ChatGPT, enterprises are showing keen interest in using generative AI in their operations and products. A new survey conducted by Dataiku and Cognizant, polling 200 senior analytics and IT leaders at enterprise companies globally, reveals that most organizations are spending hefty amounts to either explore generative AI use cases or have already implemented them in production. 

However, the path to full adoption and productivity is not without its hurdles, and these challenges provide opportunities for companies that provide generative AI services.

Significant investments in generative AI

The survey results announced at VB Transform today highlight substantial financial commitments to generative AI initiatives. Nearly three-fourths (73%) of respondents plan to spend more than $500,000 on generative AI in the next 12 months, with almost half (46%) allocating more than $1 million. 

However, only one-third of the surveyed organizations have a specific budget dedicated to generative AI initiatives. More than half are funding their generative AI projects from other sources, including IT, data science or analytics budgets. 

Countdown to VB Transform 2024

Join enterprise leaders in San Francisco from July 9 to 11 for our flagship AI event. Connect with peers, explore the opportunities and challenges of Generative AI, and learn how to integrate AI applications into your industry. Register Now

It is not clear how pouring money into generative AI is affecting departments that could have otherwise benefitted from the budget, and the return on investment (ROI) for these expenditures remains unclear. But there’s optim …

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We want to hear from you! Take our quick AI survey and share your insights on the current state of AI, how you’re implementing it, and what you expect to see in the future. Learn More

Less than two years after the release of ChatGPT, enterprises are showing keen interest in using generative AI in their operations and products. A new survey conducted by Dataiku and Cognizant, polling 200 senior analytics and IT leaders at enterprise companies globally, reveals that most organizations are spending hefty amounts to either explore generative AI use cases or have already implemented them in production. 

However, the path to full adoption and productivity is not without its hurdles, and these challenges provide opportunities for companies that provide generative AI services.

Significant investments in generative AI

The survey results announced at VB Transform today highlight substantial financial commitments to generative AI initiatives. Nearly three-fourths (73%) of respondents plan to spend more than $500,000 on generative AI in the next 12 months, with almost half (46%) allocating more than $1 million. 

However, only one-third of the surveyed organizations have a specific budget dedicated to generative AI initiatives. More than half are funding their generative AI projects from other sources, including IT, data science or analytics budgets. 

Countdown to VB Transform 2024

Join enterprise leaders in San Francisco from July 9 to 11 for our flagship AI event. Connect with peers, explore the opportunities and challenges of Generative AI, and learn how to integrate AI applications into your industry. Register Now

It is not clear how pouring money into generative AI is affecting departments that could have otherwise benefitted from the budget, and the return on investment (ROI) for these expenditures remains unclear. But there’s optim …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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