Leveraging the Benefits of GenAI in Enterprise Applications

Leveraging the Benefits of GenAI in Enterprise Applications

This IDC Perspective discusses how organizations are leveraging the benefits of GenAI in enterprise applications. Growth in investment from organizations trying GenAI is staggering. IDC's Future Spending and Resiliency Survey finds that the percentage of organizations doing nothing to invest in trying GenAI dropped from 54% in March 2023 to 18% in November 2023.GenAI technology can quickly bring an organization to a different level of experience. IDC finds that clients are asking about it because they see the value and don't want to miss it or be late for the opportunity. However, GenAI benefits in enterprise applications can be hard to understand and bring a fear factor for organizations as they tackle new innovation that relies so much on the data and models underneath it. This document helps the CIO and the line-of-business executives understand the opportunity that GenAI can bring to their business, completely reshaping it while changing the organization's experience for the better. "Trusting accurate data models built from integrity and a focus on outcomes are how successful organizations are thinking about GenAI," said Mickey North Rizza, group vice president, Enterprise Software at IDC. "Impressively, 40.6% of organizations are already using it, improving productivity while leveraging the innovative GenAI use cases either embedded in their current enterprise applications or built into their workflows to leverage the system of record data, business rules, and underlying modeling. In fact, organizations are finding that once they embark on this new journey of GenAI productivity gains, increased automation, and heavy reliance on their enterprise applications, it immediately helps them navigate business issues, improve decision velocity, and gain competitive advantage."

Please Note: Extended description available upon request.