ChatGPT drives up investment in AI technology

According to a recent Gartner poll of more than 2,500 executive leaders, 45% of senior corporate executives have increased their Artificial Intelligence (AI) investments following the publicity surrounding ChatGPT. The poll also found that 70% of organisations are exploring use cases for generative AI, with 19% in the pilot or production stage. The generative AI frenzy shows no signs of abating, said Frances Karamouzis, distinguished VP analyst at Gartner, adding that organisations are scrambling to determine how much cash to pour into generative AI solutions, which products are worth the investment, when to get started and how to mitigate the risks that come with this emerging technology. Although 68% of executives surveyed believe the benefits of generative AI outweigh the risks, only 5% feel the risks outweigh the benefits. Meanwhile, 38% of respondents cited customer experience as the primary focus of their investments, compared to 17% who indicated a desire to optimise costs.