Despite growing interest and enthusiasm for GenAI, significant challenges are emerging that threaten the success of GenAI projects, according to a co-sponsored research report from Enterprise Strategy Group (ESG) and Hitachi Vantara.
Surveying 800 IT and business leaders across the United States, Canada, and Western Europe, the report finds that 97% of organisations with GenAI in flight view it as a top five priority.
Nearly two-thirds (63%) say that they have already identified at least one use case for GenAI. The report found that several areas are driving companies to GenAI, as well as giving them pause. In terms of what’s driving enterprise investment in GenAI, the most cited use cases centred around process automation and optimisation (37%), predictive analytics (36%), and fraud detection (35%).
When it comes to some of the top concerns and challenges being faced, more than four in five (81%) of respondents agreed on concern around ensuring data privacy and compliance when building and using applications that leverage GenAI, while 77% agreed that data quality issues needed to be addressed before accepting the results of GenAI outputs.
