GEC NEWS WIREDataiku’s survey reveals that GenAI is now central to business strategies, with 65% of respondents reporting positive returns from their GenAI projects. The majority of leaders (90%) are investing in GenAI, with 57% incorporating it into IT and data science budgets and 33% allocating new budgets specifically for GenAI initiatives. This reflects a strong and growing optimism about GenAI’s financial benefits and strategic value.
In May 2024, Dataiku and Databricks surveyed 400 global senior AI professionals to uncover year-over-year trends in GenAI utilization, perceptions, investment strategies, and operational challenges since its 2023 report:
- Extreme worries over AI dropped sharply from 10% to 4%, suggesting an industry shift to a more moderate perspective.
- Over half (56%) of AI leaders believe the C-suite better understands the risks and benefits of AI, a 17% year-over-year increase, which closely correlates to increased budget allocations.
- Despite growing enthusiasm and strategic investments in GenAI, foundational obstacles to extracting the most value from analytics and AI continue to persist, with data quality leading at 58%.
- Foundational obstacles have been compounded with emerging Gen-AI-specific barriers. The biggest and most present GenAI challenges for respondents include a lack of necessary resources (44%), employee knowledge deficiencies (28%), and IT and policy constraints (22%).
“As an industry, we’ve long talked about the last mile of AI and how to deliver value from the products that will drive the space forward. More than a third of companies now have a dedicated budget for GenAI, and it’s become evident how quickly they are embracing the technology and realizing strong returns on their investments,” said, Conor Jensen, Global Field CDO of Dataiku. “Our survey reveals that AI leaders are starting to think broadly about where they apply analytics and AI across the organization not only to improve but accelerate business outcomes.”
“These findings reaffirm that interest in GenAI continues to grow stronger. Yet, organizations face challenges in delivering high-quality GenAI apps,” said, Prem Prakash, Head of AI Marketing at Databricks. “To solve these challenges, we want to help every business unlock the power of data intelligence by helping them build domain-specific, secure AI systems leveraging their data. Together with Dataiku, we will continue to help every enterprise benefit from GenAI and deliver positive outcomes for their business.”
