- 44% of global IT decision-makers hold that search-powered generative AI could save employees two days per week
- Nearly 6 in 10 AI users believe they are on their way to mastering the technology.
The rise of generative AI has placed it at the forefront of technological ingenuity. Its accelerating development threatens to surpass the accomplishments of earlier technologies and expedite productivity. According to BanklessTimes.com, 84% of data decision-makers concur that Gen AI will accelerate insights access in 2024.
The site’s financial analyst, Elizabeth Kerr, comments:
This latest wave of AI technology has transformed the tech industry, providing avenues for elevated data processing and automated data gathering. Leveraging cutting-edge machine learning algorithms and neural networks, the ability to identify patterns in intricate data sets has become more seamless, ultimately enhancing data analysis and expediting productivity and insight acquisition.BanklessTimes financial analyst, Elizabeth Kerr
Global Acceptance Rate of Generative AI
The prominence of generative AI is undisputed, as it sweeps the attention of the masses worldwide. Its technologies offer invaluable tools that connect individuals to essential business data through natural language, effectively bridging the existing gaps within organizational skill sets. No wonder this technology has been warmly embraced globally, with an impressive 73% of the Indian population, a notable 49% of the Australian population, and close to 50% of the American populace recognizing its transformative potential.
Its powerful language models are the primary attraction to AI enthusiasts and data analysts worldwide. Once integrated with business data, they will even empower non-technical team members to interact with their data using natural language search. Marketers and productivity teams are the largest non-technical consumers of these generative AI tools, with a remarkable 62% usage rate. Sales follow closely with a 47% receptive rate, while operations maintain a notable 42% adoption. Even security, though at the bottom of the list, still showcases a 16% integration of these transformative technologies.
In 2024 and the subsequent years, analysts anticipate a significant increase in business users interacting with their data using search capabilities and a conversational user interface to produce bespoke reports, dashboards, and insightful visualizations.
Expected Inflows For the Generative AI Industry
Aside from an increased user base, analysts expect a robust network of investment inflows in the coming years. By 2027, over 50% of chief data and analytics officers will acquire funding to expand data and AI literacy programs to capitalize on the expected value of generative AI. Amazon and Microsoft have already committed at least $15 billion to compete with generative AI startups.
With 80% of respondents already seeing a blur between the lines of data and Gen AI, it will not be long before investors come rushing to support generative AI.
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