Feature
- Over 70% of senior AI experts indicated an excellent ROI on data science, analytics, and AI activities.
- More than half (55%) of AI leaders are concerned about the ramifications of AI and believe that their fears are reasonable.
- During the Data + AI Summit in San Francisco, Dataiku received the 2023 Databricks AI Partner of the Year award.
In June 2023, Dataiku and Databricks survey conducted with over 400 prominent AI specialists from diverse businesses. The poll sought to investigate AI usage and attitudes and its role in corporate transformation.
Positive Return on Investment
- Over 70% of senior AI experts indicated an excellent ROI on data science, analytics, and AI activities.
- 54% of these professionals had a minimum of a 2x ROI, with 5% seeing an ROI greater than 10x.
- This demonstrates the significant commercial effect that AI, especially Generative AI, is bringing, corresponding to its rapid adoption rate.
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Value of AI Across Organizations
- Approximately three-quarters of respondents stated that firms require AI to maximize the value of their data.
- The most significant barriers to deriving additional value from AI have been recognized as major operational issues rather than cost or a lack of business justifications.
- Data quality and rollout pace are the most significant barriers to fulfilling AI’s promise.
Caution and Regulation
- More than half (55%) of AI leaders are concerned about the ramifications of AI and believe that their fears are reasonable.
- The same proportion (55%) advocated for official AI regulations.
- This reserved attitude reflects a desire for responsible and ethical AI development.
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Heavy AI Investment
- In the following year, over half (47%) of the organizations polled will spend more than $5 million on AI products.
- A sizable 17% of respondents have budgets greater than $20 million.
- Additionally, 45% of participants have already begun experimenting with Generative AI or Large Language Models (LLMs), with 64% planning to use these technologies in the upcoming year.
AI Maturity Comparison: Pioneers vs. Laggards
- In contrast to AI Laggards, who are either experimenting with AI or are getting lesser returns, AI Pioneers, who have successfully incorporated AI, stand out.
- Compared to 43% of startup companies, 70% of AI Pioneers said they have at least one data leader in their C-suite.
- In contrast to AI Pioneers, AI Laggards were 43% more likely to lack clear responsibility for data quality (56% vs. 39%, respectively).
- Compared to AI Pioneers (48%), AI Laggards (66%) need help with frontline employees’ access to reliable data.
Recognition and Collaboration
- During the Data + AI Summit in San Francisco, Dataiku received the 2023 Databricks AI Partner of the Year award.
- The partnership between Dataiku and Databricks aims to create generative AI, an approachable, commonplace technology that converts data into significant commercial results.
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Conclusion
The study results show how AI’s Impact organizations, with the majority reporting significant ROI. Although there are difficulties, the promise of AI is acknowledged in many sectors. Integrating ethical AI is crucial, which is why responsible AI development and regulatory frameworks are essential. The partnership between Dataiku and Databricks reflects the continuous work to democratize data and AI so that all enterprises may use them.
