The AI Bubble
Nemeon is a data & AI service provider. There is a reason why we put "data" first when we introduce ourselves. Let me explain. Please :). Just to get things straight before you start making up your own story before finishing the read:
A Bubble?
Yes, there is little doubt about it when you look at the rate at which AI spend is growing in companies worldwide.
AI Spend has seen triple digit growth since January 2023. We expect at least a continued growth of between 30 and 50% YoY for the next five years.
Cloud (and SaaS in particular) has seen the same numbers. Your memory needs some jolting, here we go (some numbers between 2021-2022):
领英推荐
So it will all be over soon? My idea: not yet. The potential is at least as big (if not bigger) than with SaaS. The reason is this: SaaS was mostly (still) tapping into traditional IT budgets. AI is literally eating away budget across departments (with ROIs focusing on how much labor cost they can save).
What's next?
First, companies will notice that "Plug & Play" AI is cool, but the satisfaction of the user will depend on the quality of the underlying data. For example, we'll see more "generative AI" use cases that use ChatGPT-like interfaces. Working "prompt-based" will become the norm (rather than figuring out the bells and whistles of a classic SaaS product). Yet, imagine that your underlying data is totally inaccurate or hopelessly outdated. A sales rep (just one example) will ask "give me an overview of the last products that this customer bought" and receive an answer that misses the ball entirely, the customer won't be happy.
Next, some platforms will (again) try to promise to be all things to all people. For example: big CRM players will offer calling (automated), semi-automated (gen AI driven) outbound marketing flows, automated follow-ups and even demand forecasting. To do this efficiently, they'll have to draw in data from other platforms. The question a company (of a certain size at least) must ask is this: do I want one platform to "harvest" all my company data (including from my booking system or ERP)? Don't only ask this from a security perspective, also ask this from a competitive perspective (the data will be used to enrich their own algorithms, which in turn will also benefit potential competitors).
Things are moving at breakneck speed. Are you still grappling with what is happing now? Just let us know, there are so many programs that can help (example: "start AI"). Also know that an introductory call of an hour is always on us so you don't need to worry about "the cost of a first step."