the health strategist
institute for strategic health transformation
& digital technology
Joaquim Cardoso MSc.
Chief Research and Strategy Officer (CRSO),
Chief Editor and Senior Advisor
October 12, 2023
One page summary
What is the message?
The world of enterprise AI is evolving at an unprecedented pace, driven by the emergence of generative AI (gen AI).
This transformative technology has far-reaching implications, revolutionizing businesses and society.
However, while gen AI offers immense potential, it also brings concerns related to regulation, change management, and security.
In this article, we explore the top 10 enterprise AI trends of 2023, with a primary focus on the disruptive force of gen AI.
Key Takeaways
1. The Rise of Gen AI:
Gen AI, characterized by its versatility and capabilities, is becoming a fundamental component of enterprises. These models can perform a wide range of tasks, from coding to content creation, revolutionizing various business functions.
2. Regulation on the Horizon:
The rapid growth of gen AI has led to discussions around regulation. Both AI leaders and regulators are acknowledging the need for regulatory frameworks to address the potential risks and ethical concerns associated with this technology.
3. Change Management Challenges:
Gen AI represents a seismic shift in how businesses operate. It necessitates significant change management efforts, as it touches every aspect of an enterprise and requires adaptation at an unprecedented scale.
4. Embedding AI:
Gen AI is seamlessly integrated into existing enterprise systems, democratizing data access and enhancing productivity. Customization of AI for specific business needs becomes easier and more cost-effective.
5. Business Process Automation:
Gen AI is accelerating business process automation by enabling tasks such as document summarization and data extraction that were previously challenging to automate.
6. AI Vendor Management:
Organizations increasingly rely on AI vendors to provide AI solutions. Careful vendor selection and consideration of security measures are essential to avoid potential pitfalls.
7. Trustworthy AI:
Trustworthiness remains a top priority for AI, and efforts are ongoing to ensure that AI models are reliable, unbiased, and ethical in their decision-making processes.
8. Open-Source AI:
Open-source models like Meta’s Llama are playing a pivotal role in democratizing AI. They allow for customization and are expected to become more pervasive in enterprise applications.
9. Secure Data Infrastructure:
The reliability and security of data infrastructure are crucial as the demand for AI and gen AI grows. Data protection and secure handling remain paramount.
10. Accelerated Pace of Change:
Gen AI’s rapid development, combined with its ability to self-improve, is causing significant challenges for organizations to keep up with the evolving technology.
Flexibility in AI frameworks is becoming essential.
Examples and Statistics
- McKinsey predicts that gen AI could contribute up to $4.4 billion annually to the global economy.
- 40% of U.S. employees reported their jobs had a negative impact on their mental health, according to Gallup.
- The global economy could lose up to $7.8 trillion due to employee disengagement.
- Gen AI models can perform tasks like coding, content creation, and cybersecurity risk assessment.
- OpenAI’s ChatGPT and Meta’s Llama are examples of foundational models used in enterprise applications.
- Gen AI software revenues are projected to grow from $3.7 billion to $36 billion by 2028.
- Data management is the most significant technological challenge for AI deployment, with only 28% of companies achieving enterprise-scale AI projects.
- Gen AI’s ability to improve its own performance through self-generated data is revolutionizing the industry.
The enterprise AI landscape is rapidly evolving, with gen AI at its forefront, ushering in an era of unprecedented transformation, but also raising important considerations in terms of regulation, trust, and adaptability.
DEEP DIVE
This summary was written based on the article “The year’s top 10 enterprise AI trends – so far”, published by CIO and written by Maria Korolov, on September 21, 2023.
To read the full article, click here
