The AI Hype Is Now Very Real for Businesses

This post was originally published on IT Pro Today

Is the AI hype really justified?

According to a recent survey conducted by Domino Data Lab, 90% of data science executives, leaders, practitioners, and IT platform owners believe that the buzz around generative AI is indeed well-founded. Additionally, 55% of survey respondents anticipate AI to make a significant impact on their business within the next one to two years. The survey, conducted by Domino Data Lab at its Rev4 conference, gathered insights from 162 participants.

One of the most notable impacts of generative AI on businesses will likely be the significant investment required to tailor AI technologies to their specific needs. Companies will face an important decision between developing their own generative AI technologies in-house or adopting third-party commercial offerings.

When weighing the benefits and drawbacks of these choices, organizations must consider several factors, noted Bradley Shimmin, chief analyst for AI platforms at research firm Omdia. “Every organization will have to assess their financial model, technical expertise, and the risks they are able to take,” Shimmin said. “Then it will come down to which horn you want to hang your hat on – a simple development

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