Overview

Generative AI saw explosive growth in 2023, driving a wave of experimentation and excitement in enterprises. Organizations quickly invested in GenAI to avoid falling behind competitors, boost efficiencies and drive innovation. However, this rapid adoption was often fragmented, with disconnected technologies and a lack of cohesive corporate strategy, data privacy protections and outcome measurement.

IDC's research identified key barriers to AI implementation in 2023, including cost, lack of internal skills, AI governance and concerns over data or IP loss. These challenges have slowed ROI from AI projects, with more than 70% of enterprises reporting that AI projects take over a year to show returns.

Through trial and error, best practices are emerging for AI deployment. Successful AI initiatives start with a comprehensive strategy, a robust technology platform, responsible AI policies and techniques to drive usage. With this foundation, organizations can efficiently roll out proofs of concept, scale successful projects and achieve impactful business outcomes.