Tim DaviesCEO Projekt Rising - The expert AI partner for SMEs

Current state of AI adoption in businesses

6 Dec 2024

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Tim Davies reflects on the recent 12-month surge in AI hype driven by media coverage and increasing investment in AI and tech companies. He highlights Nvidia’s stock and chipsets as central enablers of current AI capabilities, but argues that, despite many proofs-of-concept and pilots (e.g., image generation on Midjourney, queries to ChatGPT), true enterprise-wide AI adoption that transforms companies remains at an early stage.

There has been a lot of hype around AI over the last 12 months and it's interesting because the news obviously helps with that hype cycle, promoting things that are interesting or bad news negative. But also the amount of investment into artificial intelligence companies and tech companies in general seems to be ever increasing. We've seen Nvidia's stock price go through the roof as they're producing these amazing chipsets that power so much of the capability that we're building on now. But we're still really early in terms of artificial intelligence adoption. A lot of people will say, yeah, they've yeah, we're using AI and they might have created a couple of images on midjourney or spent a bit of time asking a few questions and laughing about the results with ChatGPT. But in terms of business adoption, there have been a lot of proof of concepts, a lot of pilots, but we're still very early in terms of true adoptions that are changing companies.