New Study: 95% of Enterprises Need to Upgrade their Governance for GenAI Workloads

IDC predicts that enterprises are poised to double their 2023 investments in GenAI from $19 billion to $151 billion by 2027. But where are enterprises today on their AI maturity journey? Do they have enough backing from the board? Do they have enough compute? Do they have everything they need to build AI responsibly and safely? And do they have actual AI projects in production with a clear path to ROI? 

To answer these burning questions, Domino Data Lab commissioned BARC Research to conduct a study among 279 AI leaders (senior director and above) at companies with $100M+ annual revenue. Download the full report, “AI leaders reveal what works in the modern AI era,” HERE.

Here is a sneak peek: 65% of respondents said their companies need to add new processes to existing governance frameworks to join the GenAI revolution and succeed on their Responsible AI journey. For others, GenAI requires a deeper revision of their governance plans: Nearly one in five (18%) say they will entirely rewrite their governance frameworks to address the advent of GenAI, and 12% plan to replace their current governance framework entirely as a result of GenAI. 

Sign up for the free insideAI News newsletter.

Join us on Twitter: https://twitter.com/InsideBigData1

Join us on LinkedIn: https://www.linkedin.com/company/insideainews/

Join us on Facebook: https://www.facebook.com/insideAINEWSNOW