New Report Finds 65% of Senior AI Professionals See Positive Returns on Active GenAI Investments

BT News Desk
September 20, 2024 1:20 pm
Conor Jensen, Global Field CDO of Dataiku

Dataiku’s survey reveals that GenAI is transforming enterprise operations and becoming integral to business strategies. Notably, 65% of respondents report positive returns on their GenAI projects, indicating both strategic foresight and financial benefits. Additionally, 90% of leaders are investing in GenAI, with 57% incorporating it into IT and data science budgets and 33% establishing new budgets specifically for GenAI initiatives.

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.”

Tags: