Gartner to CIOs: Prepare to spend more money on generative AI

Baris-Ozer/Getty Images You know all that money your company may already be spending on generative AI products and projects? Well, be prepared to spend a lot more in the coming year. Also: How to use ChatGPT: A beginner's guide to the most popular AI chatbot As generative AI, or gen AI, becomes more integral to business operations and consumer products, spending is expected to rise dramatically. In its latest forecast, Gartner predicts that the amount of money spent around the world on this hot flavor of AI will total $644 billion this year, an increase of 76.4% from last year. The promise of gen AI One problem with gen AI, as it currently stands, is that the technology is still in its nascent stages and often flawed and fallible. This is typified by the tendency for AI to hallucinate or deliver inaccurate, incorrect, or misleading results. As a result, many CIOs and other tech executives have been disappointed with the high failure rates of AI. Also: 10 key reasons AI went mains ... Read full article.