GenAI Industry News & Research Roundup
eyko is constantly scanning artificial intelligence and Generative AI news and research. We thought you may appreciate seeing relevant articles and survey results on the adoption of GenAI in other enterprises.
1. Andreessen Horowitz (a16z): 16 Changes to the Way Enterprises are Building and Buying Generative AI
One key finding from a16z is that budgets for generative AI are skyrocketing.
"In 2023, the average spend across foundation model APIs, self-hosting, and fine-tuning models was $7M across the dozens of companies we spoke to. Moreover, nearly every single enterprise we spoke with saw promising early results of genAI experiments and planned to increase their spend anywhere from 2x to 5x in 2024 to support deploying more workloads to production."
2. Computer World: The ROI of AI (and how to find it)
Here are some impressive ROI numbers from GenAI projects.
"A large majority of business execs who are implementing or planning to roll out genAI tools expect or have realized benefits from their decisions, according to the Gartner Generative AI 2024 Planning survey of 822 business leaders. On average, survey respondents report:
- 15.8% revenue increase
- 15.2% cost savings, 4.6% through reduction in headcount
- 22.6% productivity improvements"
3. Deloitte Research: GenAI Expectations are High
Key Highlights:- "Three-quarters of respondents expect Generative AI (Gen AI) to transform their organizations within three years
- Only a quarter of leaders believe their organizations are “highly” or “very highly” prepared to address governance and risk issues related to Gen AI adoption
- Only 47% agree that their organizations are sufficiently educating employees on the capabilities, benefits, and value of Gen AI
- More than half are concerned that the widespread use of Gen AI will increase economic inequality (51%)"
What are your expectations on GenAI within your own organizations? We'd love to hear your thoughts.