Organizations are increasingly seeing value in AI investments, according to a recent Gartner poll.
Of the over 1,400 executive leaders who responded to the survey, 78% believe generative AI investments outweigh the risks and 55% are increasing investments in generative AI, with 45% piloting new applications and 10% putting applications into production. The report marks a significant and rapid change as only 15% of respondents to a similar survey in April 2023 said their organization was piloting generative AI applications, and only 4% had applications in production.
The survey also found that 45% of organizations are scaling their AI investments across multiple business functions, including software development (21%), marketing (19%), customer service (16%), sales (12%), and infrastructure and operations (9%). The primary business motivations for these generative AI investments were to fuel growth initiatives (30%), optimize costs (26%) and enhance the customer experience and improve retention (24%).