In a recent publication, Menlo Ventures, after a thorough analysis of AI projects and demands in large corporations, created a report with very valuable insights.
The year 2024 marks a significant shift in how companies approach generative artificial intelligence (AI). With AI investment jumping to $13,8 billion—more than six times the amount spent in 2023—it's clear that organizations are moving from experimentation to execution, incorporating AI into the core of their business strategies.
This wave of investment reflects growing optimism: 72% of decision-makers expect broader adoption of generative AI tools in the near future. And this isn't just a prediction; these tools are already deeply integrated into the daily work of professionals, from programmers to healthcare professionals.
However, despite this positive outlook, many leaders are still figuring out how AI can work specifically for their businesses. More than a third of respondents in a recent survey don't have a clear vision for how generative AI will be implemented in their organizations. This doesn't mean they're investing aimlessly, but rather that we're in the early stages of a large-scale transformation. Leaders are beginning to understand the profound impact AI will have on their operations.
Companies are prioritizing practical applications that offer tangible return on investment (ROI). Key areas of adoption include:
- Meeting summaries: With 24% adoption, this tool saves time and increases productivity by automating note-taking.
- Code Assistants: With 51% adoption, developers are the first to harness the power of AI to increase productivity.
- Support Chatbots: With 31% adoption, these bots offer 24/7 support, improving customer experience and internal efficiency.
- Enterprise search and data transformation: With 28% and 27% adoption, respectively, companies seek to unlock the value of data dispersed across organizational silos.
When it comes to choosing between building AI solutions in-house or buying them, companies are divided. About 47% develop AI solutions in-house, while 53% opt for external vendors. The decision often depends on the expected ROI and the solution's ability to meet specific industry needs.
A notable development is the emergence of AI agents capable of automating complex tasks end-to-end. These agents are beginning to transform traditionally human-led industries, ushering in a future era of "Services as Software."
In terms of infrastructure, companies are adopting multi-model strategies, utilizing multiple language models for different use cases. Furthermore, the Generation-Augmented Recovery (GAR) architecture is gaining prominence, now present in 51% of implementations, up from 31% the previous year.
Predictions for the near future:
- Agents will drive the next wave of transformation: The automation of complex tasks by AI agents will be a game changer.
- Disruptive startups will gain ground: Established companies can be overtaken by agile startups that offer more innovative and effective solutions.
- AI Talent Shortage: Demand for AI experts will outstrip supply, increasing competition for qualified professionals.
We are just at the beginning of a profound transformation driven by AI. Companies that embrace this technology will be better positioned to innovate and lead in their industries. Artificial intelligence is no longer a tool of the future, but a fundamental reality for business success today.
