Summary
The 2024 State of AI Application Strategy Report outlines the current landscape of artificial intelligence (AI) deployment across various industries. It highlights that 75% of organizations are now implementing AI assistance, a significant increase from previous years, driven largely by the introduction of generative AI technologies. The report discusses the emerging AI stack, which includes application services, AI models, and foundational data infrastructure necessary for effective AI implementation. It notes that while many organizations are eager to adopt AI, a substantial number lack the necessary data strategies and quality required for successful deployment. The report also details the anticipated growth in AI investment, with organizations expecting to allocate nearly one-fifth of their IT budgets to AI in 2024, and a projected increase of 26% in AI spending over the next two years. The findings emphasize the need for organizations to carefully consider their AI strategies to avoid common pitfalls and leverage AI for competitive advantage.
