75% of organisations plan to boost investments in GenAI

Generative AI (GenAI) is emerging as a revolutionary force, accelerating organisations into a new era of innovation and growth

GenAI is the driving force of innovation, representing a massive and immediate opportunity for many businesses. A recent survey of IT decision-makers (ITDMs) across France, Germany, UK, and the US, conducted by Dell Technologies, underscores the overall enthusiasm for GenAI. The majority of respondents (78% overall, 75% in the UK) expressed excitement about the transformative potential of GenAI for their organisations. Moreover, 71% anticipate increased IT spending in the upcoming year to fuel AI initiatives.

The findings from The Dell GenAI Pulse Survey, create a vivid picture of a dynamic landscape where GenAI is poised to reshape the future of businesses. Enterprises are recognising its immense potential to drive innovation, enhance efficiency, and unlock new avenues for growth. As GenAI continues to evolve, its impact is set to permeate every aspect of business operations, propelling organisations towards a future full of possibilities.

A resounding optimism towards GenAI

GenAI is poised to revolutionise the global economy, with a predicted annual impact of between US$2.6tn and US$4.4tn. The majority of UK organisations that have progressed beyond the pilot stage of GenAI implementation are optimistic about its potential. Among this group, the survey showed that 81% of respondents expressed confidence in GenAI's ability to generate meaningful results, while 80% reported adopting centralised decision-making structures or centres of excellence to effectively manage GenAI initiatives.

Despite the growing traction of GenAI investments, nearly half (49%) of UK respondents reported their organisations being hesitant to adopt the technology, a significantly higher proportion than in France (22%). This reluctance stems from concerns regarding employee morale (49%), security (43%), technical complexity (39%), and implementation costs (35%).

Steve Young, Senior Vice President and Managing Director for Dell Technologies in the UK, says: "At the recent Bletchley Park summit, government ministers and academics alike demonstrated a shared consensus on the opportunities and risks of AI. These results suggest a similar attitude within businesses across the UK: excitement about AI's transformational potential tempered by hesitancy regarding employee morale, security, technology, and cost. 

“To realise the promise of AI, UK businesses of all sizes need to feel confident about incorporating advanced AI into their core business processes effectively and efficiently. This is where smart multi-cloud decisions can help. Combining on-premise, private and public cloud means businesses can make smart choices that balance and address security, technical complexity and cost.”  

The future of business through the implementation of GenAI

As GenAI continues to develop, its impact is set to transform industries and reshape the global economy. Companies that embrace GenAI will be well-positioned to harness its power to drive innovation, enhance efficiency, and unlock new avenues for growth. The survey demonstrated how 44% of respondents said their companies are currently at the early to mid-stage in their GenAI journey. For the UK, this rises to 51%, with more than half (53%) expecting to see meaningful results within six months to a year.

Rob Tomlin, Vice President, UK Channel for Dell Technologies explains: “GenAI has the potential to provide immense value and sits alongside 5G, edge and security as the major opportunities for the channel. This survey shows a clear opportunity for the channel to step up and provide the guidance and expertise customers want and need. 

“By developing long-term, trusted relationships with our partners and shared customers, we can help ease concerns because collaboration is what will help turn hesitancy into excitement.”  

******

Make sure you check out the latest edition of AI Magazine and also sign up to our global conference series - Tech & AI LIVE 2024

******

AI Magazine is a BizClik brand

Share

Featured Articles

Upskilling Global Workers in AI with EY’s Beatriz Sanz Saiz

We speak with Beatriz Sanz Saiz, EY Global Consulting Data and AI Leader, about how AI shapes the global workforce and how EY is harnessing ethical AI

Intuitive Machines: NASA's Odysseus bets on Private Company

Discover more about the small private company that landed the first US spacecraft on the moon in 50 years, with NASA continuing to test new technologies

Unveiling Gemma: Google Commits to Open-Model AI & LLMs

Tech giant Google, with Google DeepMind, launches Gemma, consisting of new new state-of-the-art open AI models built for an open community of developers

Sustainability LIVE: Net Zero a Key Event for AI Leaders

AI Strategy

US to Form AI Task Force to Confront AI Threats to Safety

AI Strategy

Wipro to Advance Enterprise Gen AI Adoption with IBM watsonx

AI Strategy