The State of Generative AI in Global Business: 2024 Benchmark Report
Lucidworks’ largest study of Generative AI investment reveals a slowdown in spending, key challenges, and opportunities for businesses. Get industry-specific insights and best practices to guide your AI strategy.
Lucidworks surveyed over 2,500 business leaders involved in AI decision-making to uncover the 2024 reality of generative AI adoption. While enthusiasm remains high, our study reveals a notable slowdown in spending, with only 63% of companies planning to increase AI investments in the next 12 months (compared to 93% in 2023).
The slowdown is driven by growing concerns around implementation costs, data security, and accuracy of AI-generated outputs. However, there are bright spots: retailers and tech companies are leading the way in deployment, and practical applications like FAQ generation, responsible AI governance, and cost reduction are proving successful.
Our report provides a roadmap for businesses navigating this evolving landscape. It includes:
- Industry-specific trends: Learn how your industry compares in AI investment and adoption.
- Top challenges and concerns: Understand the key obstacles to successful AI implementation.
- Emerging best practices: Discover 80+ proven strategies to maximize your AI ROI.
- Strategic planning insights: Build a tailored generative AI roadmap for your organization.
The initial wave of enthusiasm for generative AI is being met with a more strategic approach. Businesses are recognizing the potential, but also the risks and costs. This study provides the insights you need to make informed decisions and chart a successful path forward with AI.
—Mike Sinoway, CEO of Lucidworks
Download the full 2024 benchmark study today to gain a competitive edge in the world of AI.
