Over the next few years, this is expected to change with enterprises predicted to spend large amounts on cloud computing to support their generative AI products and services. Amazon's director of product management for EC2 instances, Chetan Kapoor, noted that generative AI is growing 4-5X faster than their standard business. The real winners of the generative AI trend are expected to be chipmakers and cloud companies, as they control the necessary resources for building AI.
Key takeaways:
- Generative AI is gaining attention from various industries, but currently only makes up a small fraction of cloud computing costs for enterprises and cloud providers.
- Despite the hype, the majority of AI cloud computing costs are spent on predictive analytics, with generative AI not yet having a significant impact on bills for enterprises or revenues for cloud platforms.
- Over the next few years, it is expected that enterprises will be spending large amounts of cloud computing to support their generative AI products and services.
- The real winners of the generative AI trend are the chipmakers and cloud companies, as they control the resources needed to build AI, including the hardware and infrastructure to support training and running models, as well as storing data.