Widespread Adoption of Generative AI by Companies

MetaversePlanet July 17, 2024

0 1 minute read

Based on a study, the adoption of generative AI has already become widespread among companies.

Generative artificial intelligence has quickly integrated into our lives, becoming essential assistants in many areas in a short time. Companies have swiftly moved to adopt this technology, with 9 out of 10 companies having embraced it.

According to research by Bain & Company, generative AI can no longer spread rapidly in the global business world because it has already reached nearly every company. The usage rate of generative AI, which was 83 percent in October last year, has increased to 87 percent, and some companies have begun pilot applications.

Here are the highlights of the research

Widespread Adoption of Generative AI by Companies

According to the research, companies have significantly increased their spending on generative artificial intelligence. On average, companies allocate a budget of 5 million dollars to this technology. For 60 percent of companies, AI is among their top three priorities for this year and the next. Additionally, 87 percent of companies rank AI among their top five priorities for the next three to four years.

Another notable point is the number of employees interacting with AI, which ranges from 100 to 240. However, only 36 percent of companies have a defined roadmap for AI. Furthermore, companies are torn between developing their own systems and customizing existing ones as they approach this issue more pragmatically.