According to a Gartner survey, 45% of CEOs increased their investments in artificial intelligence (AI) as a consequence of the buzz around Open AI’s ChatGPT.
According to the report, 68% of CEOs feel that the benefits outweigh the risks, while only 5% believe the opposite. Only 17% of executives stated that cost optimization was the primary goal of their generative AI investments. 38% were preoccupied with customer experience and retention, whereas 26% were preoccupied with revenue growth.
Companies are starting to experiment with generative AI in areas such as media content enhancement and code creation. However, only 4% of respondents said they were in production mode, while 70% said they were in investigative or exploration mode and 15% said they were in piloting mode.
According to Gartner, generative AI will not only complement and speed design in many vertical sectors, but it will also have the capacity to “invent” innovative designs or items that humans have not yet created. The application of generative AI is expanding, particularly in five areas: medication design, material science, chip design, synthetic data, and parts design.
The sources for this piece include an article in TechRepublic.