GenAI Services Where is the beef?
Part of: AI Learning Series Here
If you still wondering “Where is the beef?” for Services take a look at these articles on the potential
- From Potential to Profit with GenAI | BCG
- Ninety Percent of CEOs Are Waiting for GenAI to Move Past the Hype or Experimenting in Small Ways (bcg.com)
Take a look at the Accenture GenAI associated revenue up 17% from $300M in 4Q ( Services no hardware:
Accenture CEO Julie Sweet: 2023 ‘Was A Year Of Generative AI Experimentation’ (crn.com)
Accenture in fiscal 2023 sold about 300 generative AI-related projects worth $300 million, and demand continued to accelerate in the first fiscal quarter 2024 to over $450 million in GenAI sales.
Now Gartner did say the market will change over time, take a look at these: Gartner Impact Radar for Generative AI 2024
The study shows that the GenAI market is on course to grow over $100B by 2028. This represents a tenfold increase in the GenAI market, from around $8B in 2023 to over $100B in 2028. The report indicates that 2024 will be the beginning of an exponential growth in the monetization of GenAI. Source
- By 2027, foundation models will underpin 70% of natural language processing (NLP) use cases, up from less than 5% in 2022.
- By 2026, single-modality AI models will lose out to multimodal AI models (text, image, audio and video) in over 60% of GenAI solutions, up from less than 1% in 2023.
