Businesses have become more cautious about investing in artificial intelligence tools due to concerns about cost, data security, and safety, according to a study conducted by Lucidworks, a provider of e-commerce search and customer service applications.
According to the results of the survey, 63 percent of global companies plan to increase spending on AI in the next twelve months, compared to 93 percent in 2023 when Lucidworks conducted its first investigation. And to realize meaningful benefits, it's necessary to move past the pilot testing stage, something few companies have managed. Only 25 percent of planned generative AI investments have been completed to date, the study says.
According to Redman, security and accuracy, response alignment with policies, data acquisition costs, and keeping costs under control all need to be considered. The survey indicates that qualitative applications, which use text and provide a narrow response, have been the most successful generative AI initiatives, accounting for about a quarter of successful implementations. Specifically, these include projects for generating FAQs and providing HR support. And they tend to be the simplest to implement.
Technology Technology Latest News, Technology Technology Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheRegister - 🏆 67. / 61 Read more »
Source: TheRegister - 🏆 67. / 61 Read more »