All articles tagged with #corporate spending
Despite nearly 80% of companies adopting generative AI and pouring billions into it, most have yet to see significant improvements in efficiency or financial results, echoing the historical productivity paradox observed during the personal computer boom.
A CNBC survey reveals that over half of top technology officers plan to purchase enterprise-level generative AI software, such as Microsoft Copilot, in the next six months. Microsoft's early lead in the generative AI market has positioned it well for increased spending, with analysts predicting gen AI revenue to reach as high as $10 billion annually. While some corporate buyers have expressed concerns about cost and data, Microsoft's recent general release of Copilot for 365 has prompted many companies to adopt the technology. Gartner anticipates that initial spending will focus on test groups within specific business functions, with broader deployment expected to integrate other data sources outside of 365 work apps. Despite the growing hype around generative AI, Gartner predicts that spending on cybersecurity will still dwarf gen AI spending in 2024.