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AI is a hot topic, but is still a tiny part of business spending

Dec 26, 2023 - businessinsider.com
Generative AI is yet to be fully embraced by most companies, including Accenture, which only had a fraction of its bookings related to the technology this year. Accenture's CEO, Julie Sweet, attributes this to the lack of mature data capabilities in most companies and the absence of protocols to protect proprietary information. She also points to a lack of AI expertise within organizations as a contributing factor.

Despite the slow uptake, Sweet predicts that AI will become a significant part of their business in the next three to five years. However, safety concerns and privacy issues remain a challenge, with only 44% of businesses planning to increase their AI usage in 2024. To address these concerns, AI companies like OpenAI are developing versions of their technology designed to protect confidential data.

Key takeaways:

  • Generative AI is not yet widely adopted by companies, with only a fraction of Accenture's bookings this year related to the technology.
  • Accenture's CEO, Julie Sweet, attributes this slow adoption to a lack of data capabilities and protocols to protect proprietary company and client information.
  • Another reason for the slow adoption is the lack of expertise within organizations, with many CEOs unable to identify where AI is being used within their companies and what risks it poses.
  • Despite the slow adoption, AI companies are working to address safety concerns, with OpenAI launching ChatGPT Enterprise, a version of ChatGPT designed for businesses that protects confidential data.
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