AI Hype Fades, but Workflows Continue Evolving

Last year’s report was released just weeks before the launch of ChatGPT, and the hype cycle has been intense ever since. However, the initial hype around generative AI will likely wane in 2024 for a variety of reasons. Most companies will have to take a step back to build the proper prerequisites for modern artificial intelligence operations, but that doesn’t mean that exploration and pilot programs will grind to a halt. Along with new standalone products, a wide range of business applications will begin to incorporate AI as a feature.

In fact, just over 20% of technology companies surveyed are aggressively pursuing integration of AI across a wide variety of technology products and business workflows. Hesitation in adoption may stem from the challenges being encountered by early adopters. The top challenge for AI, whether that challenge comes from early experience or simply expectations around implementation, is around cost.