An overwhelming majority (97%) of companies have already invested in AI or plan to do so next year, according to Lenovo. But there are many issues.
A recent study by Lenovo has revealed that, despite the astonishing increase in AI spending throughout Europe, companies are still facing the same challenges when it comes to adopting generative AI as they did a year ago.
According to research, investment in AI is expected to grow by 61% year-on-year in 2024, and there is a general consensus among IT leaders that the technology is considered a game-changer.
However, many companies still struggle with the scale of AI deployment, citing concerns about the large amounts of computational power and data resources required to train models.
AI is an opportunity, but also a serious problem
An overwhelming majority (97%) of companies have already invested in AI or plan to do so next year, according to Lenovo. However, certain obstacles have been revealed that prevent companies from maximizing their investments.
Firstly, there are the technical challenges mentioned above, but managers are still concerned about the potential misuse and “hallucinations“ “of AI, when generative AI tools produce incorrect results.
CIOs also reported difficulties in finding a reliable data platform and the need to rely on third-party platforms for generative AI development.
Despite the obstacles, the enthusiasm remains high, and public organizations, telecommunications companies, banks, financial services, and insurance companies have already invested in GenAI.
In addition to the EMEA region, a similar increase in investments is also expected in North America, although the amount of money expected to be spent on this technology in the Asia-Pacific region is slightly lower.
As companies continue to navigate artificial intelligence, it is clear that willingness to invest alone will not be enough. On the contrary, the study highlights the need for a solid strategy so that companies can address potential obstacles before they are forced to stop.
Author: Chema Carvajal Sarabia
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