The research is based on a survey of more than 2,500 business leaders across major industries. The study aimed to determine companies’ progress in deploying generative AI. The results were a little disappointing.
“In 2023, nearly 50 percent of retailers had a positive view of AI, one of the highest percentages across the industries surveyed. That initial wave of enthusiasm translated into one of the most successful deployment rates in 2024,” said Mike Sinoway, chief executive officer of Lucidworks. Deployment of generative AI also comes with a unique set of concerns. The report found that concerns around AI “spiked across all industries in 2024, including three times as many security concerns, five times as many accuracy concerns, and four times as many transparency concerns.” The researchers found that the largest spike was around the cost of implementation — jumping from 3 percent in 2023 to 43 percent this year.
Other findings from the survey include a global investment slowdown. “Global AI spending plans are down sharply, with only 63 percent planning increases ,” the report’s authors said, adding that U.S.-based businesses “remain above average with 69 percent planning to increase AI spend.”
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