Published on October 28, 2023, 8:02 am
Infosys Knowledge Institute has recently released its Generative AI Radar report, which provides valuable insights into the current state of generative AI implementation in over 1,000 businesses in the United States and Canada. The report sheds light on the early indications of generative AI’s ability to deliver value and highlights the challenges these organizations face.
The study reveals that companies are taking generative AI seriously, as indicated by their investments in this technology. However, they also recognize that there are several obstacles on the horizon. These obstacles include navigating through the next stage of the AI-hype cycle, addressing data and privacy challenges, and dealing with ethical concerns.
Interestingly, the report identifies a correlation between company size and their likelihood to adopt generative AI. Companies with more than $10 billion in revenue are more likely to embrace this technology compared to smaller businesses.
Despite heavy regulation in various industries, adoption levels for generative AI remain highest among healthcare, life sciences, and financial service sectors. These industries recognize the potential benefits that a well-implemented generative AI strategy can provide to their operations.
The full report can be accessed for further insights into the current landscape of generative AI implementation. In addition to this report, InsideBIGDATA offers a free newsletter for those who want to stay updated on the latest advancements in big data analytics.
Moving beyond Infosys Knowledge Institute’s report, it is important for IT leaders during this era of data-driven transformation to simplify their analytics and data footprint. Devika Garg, PhD, Senior Solutions Marketing Manager for Analytics at Pure Storage highlights how embracing complexity is crucial for IT leaders. By optimizing data pipelines and leveraging suitable storage solutions, IT leaders can modernize their operations while consolidating data into a central and easily accessible layer.
The process of modernizing data pipelines ultimately breaks down silos within organizations and delivers real-time insights that drive true business advantage. Businesses that effectively implement modern data analytics gain faster insights that allow them to stay ahead in the digital-first landscape.
For those interested in exploring how platforms can bring value to their businesses, InsideBIGDATA offers a comprehensive guide titled “The enterprise guide to platform thinking: What it can do for your business”. The guide explores the evolution of platform thinking over the last five years and its role in delivering business, operational, and customer value. It delves into topics such as cultural shifts, technology advancements, and strategies for successful implementation.
It is evident that generative AI is gaining momentum in various industries. As organizations invest more in this technology, they need to address the challenges that lie ahead while also seizing the opportunities it presents. By embracing complexity, simplifying analytics and data pipelines, and leveraging suitable storage solutions, businesses can unlock faster insights and drive true business advantage in the digital era.