A new report published by Juniper Research predicts that global spending by banks on generative artificial intelligence will increase exponentially over the next decade. Generative AI platforms, which can create original text, images and other media, are expected to revolutionize banking business models. According to the research, banks' total spend on generative AI will reach … [Read more...] about Banks to Ramp Up Spending on Generative AI Tenfold by 2030
AI Research & Forecasts
Tracking the Pulse of Generative AI Adoption: Excitement and Opportunity Tempered by Uncertainty
A quarterly survey of over 2,800 AI leaders by Deloitte reveals persistent excitement about generative AI's potential paired with uncertainty on managing emerging challenges. Key insights include: High expectations for transformation Nearly 80% expect substantial industry transformation from generative AI within 3 years. 14% believe it's already transforming their organization. … [Read more...] about Tracking the Pulse of Generative AI Adoption: Excitement and Opportunity Tempered by Uncertainty
Harnessing the Potential of AI to Drive Business Growth
A recent BCG survey of over 1,400 C-suite executives worldwide reveals that while 89% rank AI and generative AI (GenAI) as a top-three priority for 2024, most companies have yet to realize its full potential. Two-thirds are still ambivalent about their AI progress, with 90% focused only on limited pilots rather than systematic adoption. However, the report identifies key … [Read more...] about Harnessing the Potential of AI to Drive Business Growth
How AI is Fueling a New Era of Growth for Small Businesses
Artificial intelligence (AI) is rapidly emerging as a vital asset for small and medium-sized businesses (SMBs) striving to gain an edge in 2024’s challenging economic environment. According to experts at Oxford Capital, a leading business investment firm, AI-driven tools have the potential to significantly bolster SMB efficiency, cost savings, and customer engagement. “One key … [Read more...] about How AI is Fueling a New Era of Growth for Small Businesses
IT spending set to grow 6.8% in 2024, Gartner predicts
Global information technology (IT) spending is forecast to total $5tn in 2024, an increase of 6.8 per cent from 2023, according to new projections by technology research firm Gartner. The revised forecast is down from Gartner's previous estimate of 8 per cent growth, a nod to the ongoing economic uncertainty. However, if realised, the 2024 growth rate would still signify a … [Read more...] about IT spending set to grow 6.8% in 2024, Gartner predicts