The State of Generative AI in Global Business: 2024 Benchmark Report

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:

  1. Industry-specific trends: Learn how your industry compares in AI investment and adoption.
  2. Top challenges and concerns: Understand the key obstacles to successful AI implementation.
  3. Emerging best practices: Discover 80+ proven strategies to maximize your AI ROI.
  4. 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.

Get the Exclusive Insights

You Might Also Like

The 4 levels of agentic AI every business leader must understand in 2025

Discover the four critical levels of agentic AI with real-world implementation lessons...

Read More

4 proven AI search solutions for tariff management

Discover how AI search solutions for tariff management help retailers maintain margins...

Read More

Third Annual AI Benchmark Study 2025: What we’re seeing in B2C e-commerce

Download the 2025 B2C AI benchmark insights from Lucidworks. Peek behind the...

Read More

Quick Links