GenAI Adopation 2024 -- Challenges with Enterprise Data Report

Hi Data Pros,

We are thrilled to present the latest insights from K2view's 2024 State of GenAI Data Readiness report. This comprehensive study examines the top challenges enterprises are facing as they work toward generative AI (GenAI) implementation.

Data is critical to realizing AI’s true potential, but organizations are struggling to close the GenAI data gap and move their GenAI projects to production. The report unveils the most significant roadblocks to realizing GenAI’s full potential lie in organizations’ existing data infrastructure, particularly in the areas of data accessibility and latency, data privacy, and security.

I found the charts on GenAI data challenges very interesting, especially the breakdowns by industry. Check them below!

Current approaches to GenAI adoption

Key findings include:

• Most organizations are moving beyond GenAI exploration to pilots, but not to production. While 43% of businesses are involved in department-level pilots, only 13% are conducting organization-wide data-driven GenAI pilots. And only 2% of respondents, have advanced to production deployment, even lower than recently reported by industry analysts.

• Enterprise data is at the crux of the biggest challenges for AI deployment. 48% of respondents cite data security and privacy concerns, and 33% cite enterprise data readiness as roadblocks to deployment. The difficulty lies in the fragmented nature of enterprise data, which is often spread across multiple systems and analytical data stores, making it hard to integrate, govern, and make accessible in near-real time, under stringent guardrails, to GenAI applications.

Top concerns in leveraging enterprise data for GenAI and RAG

• Retrieval Augmented Generation (RAG) is widely adopted as a framework for grounding LLMs with internal data, but enterprise application data is largely underutilized in initial RAG implementations. 60% of respondents are already piloting RAG, while 24% are in the planning stages, and 12% have moved to full production. The survey reveals a unique set of challenges specific to enterprise application data, which hinders its use in making GenAI and RAG initiatives successful, even when the data is stored in data lakes and data warehouses.

• 54% of respondents say customer operations is a crucial GenAI use case. Organizations across industries recognize the value of GenAI in improving customer engagement and satisfaction, reducing response times, improving first contact resolution, and increasing cross and upselling.

Conclusion: The State of GenAI Data Readiness report highlights the critical role of data in the success of GenAI initiatives. As companies continue to innovate and scale their GenAI apps into production, those who effectively harness enterprise application data will lead the way.

For more detailed insights, download the full report here.​

​
Best,

Ravit Jain

Founder & Host of The Ravit Show

​