NEW
YORK, Nov. 19, 2024 /PRNewswire/ --
S&P Global Market Intelligence has released a report today
which shows the emergence of generative artificial intelligence
(GenAI) is at an inflection point that has refocused enterprise
priorities and stands to reshape the role of technology. The newly
published Generative AI Outlook: From Hype to Value report
is part of S&P Global Market Intelligence's Big Picture 2025
Outlook Report Series.
In this new report, S&P Global Market Intelligence's GenAI
analysts highlighted the changes to date are only the first phase
of a larger set of shifts that are driving a rethinking of the
approaches to generative AI engines (Large Language Models),
architectures and the data that feeds them.
"While investments in AI companies are surging, enterprises are
running into challenges delivering on AI's promises. Data quality
and budget limitations are the leading causes of AI project
failures. Greater infrastructure maturity is needed to achieve AI
benefits," said Eric Hanselman,
Chief Analyst for Industry and Company Data with S&P Global
Market Intelligence.
Key highlights from the report include:
- According to 451 Research's recent Voice of the Enterprise: AI
& Machine Learning, Infrastructure 2024 study, 18% of
organizations currently report to have Generative AI fully
integrated across their organization, a gain of 5 points in only 6
months.
- Results from the AI and Machine Learning (ML) study show that
data quality ties with budget issues as the leading cause of AI
project abandonment, followed by infrastructure performance. That's
an indication of the importance of building data management skills,
which is new to many organizations.
- Generative AI venture funding is also pacing at record highs,
with startups securing $20 billion in
capital in the first three quarters of 2024, according to data from
S&P Capital IQ Pro. Hot new startups in the foundation model
space led by AI pioneers have this year achieved unicorn status
mere months after announcing their founding, before releasing any
shippable products.
To request a copy of Generative AI Outlook: From Hype to
Value, please contact press.mi@spglobal.com.
S&P Global Market Intelligence's opinions, quotes, and
credit-related and other analyses are statements of opinion as of
the date they are expressed and not statements of fact or
recommendation to purchase, hold, or sell any securities or to make
any investment decisions, and do not address the suitability of any
security.
About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the
importance of accurate, deep and insightful information. Our team
of experts delivers unrivaled insights and leading data and
technology solutions, partnering with customers to expand their
perspective, operate with confidence, and make decisions with
conviction.
S&P Global Market Intelligence is a division of S&P
Global (NYSE: SPGI). S&P Global is the world's foremost
provider of credit ratings, benchmarks, analytics and workflow
solutions in the global capital, commodity and automotive markets.
With every one of our offerings, we help many of the world's
leading organizations navigate the economic landscape so they can
plan for tomorrow, today. For more information, visit
www.spglobal.com/marketintelligence.
Media Contact
Spencer Umbeck
S&P Global Market Intelligence
(303) 874-0754
Spencer.umbeck@spglobal.com or press.mi@spglobal.com
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SOURCE S&P Global Market Intelligence