Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

Enterprise AI Is Becoming A Business Necessity, But How Can Companies Pay For It?

Feb 27, 2024 - forbes.com
The article discusses the rise of Generative Artificial Intelligence (GenAI) and its increasing necessity for businesses to remain competitive. Despite the high costs and complexities associated with implementing GenAI, the author suggests that mid-market companies can begin by defining objectives, researching options, integrating with existing systems, ensuring security, monitoring and improving, and establishing governance. The article also suggests that costs can be absorbed by sharing across departments, using standard models, leveraging subscription models, partnering with others, and starting small.

The author emphasizes that GenAI is not just another tool in the tech stack but a new approach to business, requiring an enterprise-wide transformation. While the adoption of GenAI presents challenges in operationalization, resource allocation, and governance, the author asserts that it is here to stay. Companies are now shifting their focus from questioning the need for AI to figuring out how to implement it effectively.

Key takeaways:

  • Generative artificial intelligence (GenAI) has become a necessity for businesses, with spending on GenAI predicted to grow to $143 billion in 2027.
  • Implementing GenAI requires defining objectives, researching options, integrating with existing systems, ensuring security, monitoring and improving, and establishing governance.
  • Costs for implementing GenAI can be absorbed by sharing across multiple departments, using standard models, leveraging subscription models, partnering with others, and starting small and risk-free.
  • GenAI is here to stay and companies are transitioning from asking if they should use AI to how they can start using it today.
View Full Article

Comments (0)

Be the first to comment!