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Enterprise AI spending soars, the AI age gap, and lessons from early adopters

Explore AI that can invent AI and case studies on AIG and Disney

Author

Malcolm Frank, CEO
November 11, 2024

 

A Note from Malcolm


AI Shifts from Experimentation to Enterprise Transformation

IIDC released its annual FutureScapes report this past week and signaled a major turning point in enterprise AI adoption. The key takeaway? The AI gold rush is moving in-house.

While tech giants like Nvidia, Microsoft and Google have dominated AI headlines, IDC predicts the next wave of investment will flow directly into enterprise transformation. Companies are ready to move "from experimentation to reinvention.”

Why? Because recent productivity gains from AI automation are impossible to ignore:

  • Software developers see up to 37% productivity boost with AI assistance

  • QA and testing teams report even more dramatic gains - up to 55% improvement

  • Routine tasks that once consumed hours are now handled in minutes

The message is clear: AI has vaulted from theoretical future to tactical present, and companies are now feverishly preparing for 2025 (with budgets and plans) to support this perspective. 

Spend on AI tech could hit $337B in 2025, growing to $749B by 2028 

IDC predicts 2/3rds of AI spending will come from large enterprises as they pivot from experimentation to reinvention. 

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The AI age gap: Few mid-career and older workers use AI at work — yet

Hiring managers show a strong preference for younger candidates for AI-intensive roles: only 32% of employers would consider candidates over age 60 for such roles, versus over 85% for those under 35.

Enterprise AI: Lessons from the early adopters

Harvard Business Review discovers early movers lack the proper strategy and infrastructure to harness the full potential of AI. 

Who needs an AI doppelganger?

AI is supposed to do work for you. Or is it as you?

Is AI the new scab? 

Perplexity offers its services to replace striking NY Times staff.

Tool of the Week: Cursor

Built to make you extraordinarily productive, Cursor is the best way to code with AI.

AI that can invent AI is coming

Buckle up. It's already happening.

Quantum AI is coming too 

As if AI itself weren't futuristic enough, now there's a whole new leap forward on the horizon.

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It appears the full o1 model can reason over images.

The two-step continues: Freshworks axes 13% of staff, pivots to AI

The cuts are intended to better align skills with the organization’s needs.

Case Study: Disney forms business unit focused on use of AI, mixed reality

Centralized unit will drive AI initiatives across film, television and theme parks. 

Case Study: AIG leans on GenAI to speed underwriting

AIG is using LLMs to drive digital transformation as part of a broad enterprise simplification push.

“Tech quit me.” Bay Area tech workers throw conference for the layoffs age

Many veterans of San Francisco’s tech industry are sick of the layoffs and the volatility.

Want to know who’s ahead in the LLM race?  

Vellum keeps score.

And one more thing…

One job that’s safe from AI: DJs 

Why AI (so far) is no match for a real-life DJ. 

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