eyko – September 2024 Newsletter

#GenAI Industry News & Research Roundup

Want to learn more about Generative AI and how other organizations are adopting AI? You may appreciate this round up of important research and enterprise surveys on GenAI adoption and ROI by Gartner, Deloitte, and Andreessen Horowitz.

1. Andreessen Horowitz (a16z): 16 Changes to the Way Enterprises are Building and Buying Generative AI

One key finding from a16z is that budgets for generative AI are skyrocketing.

"In 2023, the average spend across foundation model APIs, self-hosting, and fine-tuning models was $7M across the dozens of companies we spoke to. Moreover, nearly every single enterprise we spoke with saw promising early results of genAI experiments and planned to increase their spend anywhere from 2x to 5x in 2024 to support deploying more workloads to production."

2. Computer World: The ROI of AI (and how to find it)

Here are some impressive ROI numbers from GenAI projects.

"A large majority of business execs who are implementing or planning to roll out genAI tools expect or have realized benefits from their decisions, according to the Gartner Generative AI 2024 Planning survey of 822 business leaders. On average, survey respondents report:

• 15.8% revenue increase
• 15.2% cost savings, 4.6% through reduction in headcount
• 22.6% productivity improvements"

3. Deloitte Research: GenAI Expectations are High

Key Highlights:

• "Three-quarters of respondents expect Generative AI (Gen AI) to transform their organizations within three years
• Only a quarter of leaders believe their organizations are “highly” or “very highly” prepared to address governance and risk issues related to Gen AI adoption
• Only 47% agree that their organizations are sufficiently educating employees on the capabilities, benefits, and value of Gen AI
• More than half are concerned that the widespread use of Gen AI will increase economic inequality (51%)"

What are your expectations on GenAI within your own organizations? We'd love to hear your thoughts. Let us know in the comments.

Recent eyko Blog Roundup

1. Can you avoid decision making risks due to human errors in spreadsheets?
2. If you like Microsoft Fabric, you'll love eyko
3. Unlock the full potential of Power BI with eyko
4. Is your data lake a liability?
5. Are fancy visualizations becoming obsolete? Will GenAI redefine how you see your data?

See eyko at INFOCUS in October

Make sure to drop by Booth 318

eyko is excited to exhibit at the Quest Oracle JD Edwards INFOCUS conference from October 1-3 in Denver, CO.

Be sure to drop by the booth (or book your private session now) to meet the team and learn more about the benefits of eyko for Oracle JDE.?

• Purpose built for JDE. eyko understands the JDE data dictionary.
• Combine, clean, and enrich multiple data sources with JDE.
• Easy ERP consolidation in minutes.
• Embedded Power BI for responsive and intuitive reports and dashboards.
• Pixel Perfect Financial Statements!
• Surface insights with the AI Assistant.
• Designed for business users.