"Spending on the new AI is reaching a record high. Open AI and Microsoft are the biggest beneficiaries.
Companies all over the world are currently massively shifting their IT budgets towards generative AI. Two thirds of the 2,000 IT decision-makers surveyed said they would withdraw the investment funds for generative AI from other AI projects because no additional funds are available due to the difficult economy. Only a third of IT decision-makers spend additional money on ChatGPT and Co., shows a current survey by the market research company ETR.
As a result, artificial intelligence and machine learning are now achieving by far the greatest spending momentum: while the average only reaches a value of 20 percent, AI climbed to a peak of 52 percent in October. This corresponds to a spectacular increase of 14 percentage points since ChatGPT was launched last November and is also the highest value since measurements began twelve years ago.
The freed up budgets will primarily be used to finance experiments in order to research useful areas of application for AI. The key evaluation areas have increased significantly since April. At the same time, the proportion of companies that do not carry out evaluation projects has halved from 52 to 26 percent.
However, the areas of application are not half as spectacular as the spending dynamics: customer service, combining texts and data, generating code and writing content are the expected fields that point more to productivity gains than to radically new processes. "Companies are being as cautious as they can be in this macro environment. They are getting caught up in the excitement and hype around generative AI to a degree we have never seen with a technology. But tight budgets and an uncertain business environment means companies are still dipping their toes in the waters that seem most familiar to them," explains ETR's Daren Brabham. Companies have been testing and refining AI chatbots for customer service for several years. So it's a natural starting point when a company is trying to figure out whether generative AI can do something better, faster or more nuanced than building the logic flows of a typical chatbot.
Open AI came out of nowhere and is now the dominant force
The emergence of generative AI has also changed the ranking of relevant AI providers. Open AI came out of nowhere and is now the dominant force. “The evaluation rates for Open AI are absolutely through the roof. The values are by far the highest we have ever recorded,” says Brabham.
Behind them are old friends: Microsoft, AWS and Google. What's interesting, however, is that Microsoft has made the biggest leap forward due to its partnership with Open AI, while Amazon has lost ground on the x-axis. Google has also improved since launching ChatGPT.
Another new entry in the top sector is Anthropic, a provider that was founded by former Open AI employees and was recently invested with billions by Google and then by Microsoft in order not to leave the field to Open AI alone.
But it is too early to make a preliminary decision: “It will be a race between tech providers in which there is no declared winner yet,” Brabham suspects.” [1]
1. IT-Budgets werden zu generativer KI umgeschichtet. Frankfurter Allgemeine Zeitung (online) Frankfurter Allgemeine Zeitung GmbH. Oct 25, 2023. Von Holger Schmidt
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