Navigating the reality of GenAI as we move beyond the hype cycle
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In 2023, experts estimate enterprises worldwide spent about $19.4 billion on generative AI (GenAI) solutions. Over that same year, the term “GenAI” emerged as a buzzword in C-suites and board rooms across industries, bringing the promise of revenue, operational efficiency, productivity, and competitive gains. Next-generation artificial intelligence captured the imagination of business leaders, igniting a wave of investment, with teams driven to produce headline-worthy results. But despite the hype, many GenAI use cases fell short of ambitious growth expectations and data maturity was a significant stumbling block. So, can GenAI live up to huge expectations?