I have no doubt that the world has entered the artificial intelligence era, with its subset generative AI (GenAI) making waves across almost every industry. How to get the most out of GenAI in a safe, secure and scalable manner dominates almost every conversation I have with our enterprise clients.
According to the 2024 Gartner CEO survey, AI has now emerged as the differentiating technology for delivering corporate strategies, including revenue generation and operations, with 24% prioritizing the tech compared to just 4% in 2023.
The rise of GenAI
Since GenAI exploded onto the scene at the end of 2022, with OpenAI’s release of ChatGPT, executive leaders — many of whom had not heard of the technology before — have been quick to adopt the tech and increase spend in this area.
According to Gartner’s GenAI in Technology Services research, the five-year CAGR for AI is forecast to grow by 17% between 2023-2027 and much of this will displace spending in other IT categories.
Organizations are looking to replace current IT strategies and plans with “AI First” strategies, while they are planning to deploy the technology in the same way as previous innovations, with a mixture of buying and building GenAI models, services and solutions.
With the emergence of any new technology that is creating such a significant impact, it’s important to understand the trends shaping the market.
The viewpoint will go on to discuss the following:
- How industry and domain-specific GenAI models will help organizations comply with regulations and compliance standards
- The purpose of a unified data strategy
- The practice of responsible and secure AI
- Why GenAI and AI are now strategic priorities for organizations
