As economic uncertainty looms, US companies are turning to Generative AI (GenAI) as a strategic weapon. The latest ISG report reveals 80% of enterprises see GenAI as vital for data-driven decision-making in the next 24 months.
Companies have begun integrating GenAI into existing analytics investments, focusing on knowledge management and process optimization. ISG predicts a shift towards product transformation and AI-powered operational models.
“This surge in GenAI adoption suggests a focus on enhancing existing analytics,” explains Shriram Natarajan, ISG Analytics lead. “Companies believe GenAI can unlock greater value from their data.”
The focus has shifted from data acquisition to data utilization. GenAI fuels emerging use cases like contextual searches, predictive analytics, and virtual assistants.
US companies are realizing good data, not just big data, drives business impact. They seek service providers with strong data governance to ensure quality and eliminate irrelevant results.
Self-service features empower non-technical personnel to gain insights. “Advanced analytics are becoming accessible,” says Jan Erik Aase, ISG Partner. “Data democratization can unleash innovation.”
Regulation might loom, with potential laws addressing data privacy and algorithmic accountability. Companies may need to assess the impact of their GenAI implementations.
The report also explores trends like data lineage and personalized customer experiences. To delve deeper into challenges and expert advice, download the ISG Focal Points briefing.