The hype surrounding generative AI has made executives impatient for immediate returns on investments, but companies are struggling to demonstrate real value amidst widening project scopes.
The financial strain of developing Gen AI models is a significant concern, with costs ranging from $100,000 to over $20 million, making it imperative for organizations to clarify potential ROI.
Despite the challenges highlighted by Gartner's report, there are reports of companies experiencing revenue boosts and productivity gains through generative AI technologies, signaling potential long-term benefits.
With Gartner predicting that at least 30% of Gen AI initiatives will be abandoned by the end of 2025 after proof-of-concept stages, organizations need to reassess their strategies.
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