Conclusion
Our examination of AI usage revealed the extent to which this embryonic technology has already found its way into companies’ tech stacks. Yet despite the surge in adoption, companies’ investment in AI tools is still moderate, hovering in the low five-figures.
Though design is the No. 1 use case for AI tools, it appears ChatGPT will remain the most popular AI tool.
However, companies seem open to deploying and exploring additional AI tools for other tasks (and be willing to pay for it). This could have the effect of initiating an AI arms race in years ahead.
Based on the data we collected, we expect companies of all sizes and types to keep exploring ways to utilize artificial intelligence to complete creative tasks—copy creation, design, and social media content creation. But there are many greenfield opportunities to leverage AI tools to maximize an organization’s resources.
We believe an industry to pay close attention to for growth in AI tools is Research and Consulting. They’re the most aggressive adopters and spenders, and they’re using AI for the most common overall use cases. We also see huge potential for AI tools for CX and sales operations at financial services companies.
The counterpoints we revealed, however, are worth noting. This isn’t to suggest AI tools are a fad, far from it. Rather, the resistance to fully embrace them could be driven by specific needs that current tools don’t meet or privacy concerns.
For example, what is it about today’s AI tools that make the Financial Services industry hesitant to use them in 2024? Is it regulatory and compliance concerns? Or use cases that haven’t been addressed?
WPVIP.COM
Our findings on budgets and AI investment also raised a fascinating possibility. Small companies, far and away, showed the most willingness to invest six-figures or more in AI tools. By investing more, it’s possible they will be able to place themselves on more equal footing with larger rivals. This punching up will undoubtedly benefit consumers as competitors race to offer new and better products and services.
Finally, when we look back on 2023, we’ll recognize it as a pivotal year for what was once considered a frontier technology, one that is now rapidly being integrated into how companies do business.
We may not be quite at the tipping point where AI tools are basic commodities, but that moment is drawing near. When it arrives, asking if your company uses AI tools will be like asking if your website is powered by the internet.
