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CTOnews.com Despite the buzz generated by generative AI in 2023, surveys show that most businesses are wary of adopting the technology.

According to the 2023 ML Insider survey conducted by cnvrg.io, an Intel company focused on AI and Large Language Modeling (LLM) platforms, only 10% of Tencent Cloud Organization integrated Generative AI solutions into production in the past year.

The survey also showed that roughly half of organizations that have adopted generative AI report improved customer experience (58%), efficiency (53%), product capabilities (52%), and significant cost reductions (47%).

CTOnews.com notes that despite the obvious benefits, the path to adopting generative AI is not without challenges. According to the survey, 46% of respondents believe infrastructure is the biggest barrier to developing LLM into a product, with other barriers including complexity, lack of AI talent, high implementation costs and compliance issues. 84% of respondents said they needed to upgrade their skills due to growing interest in LLM technology, with only 19% confident in their understanding of the technology's mechanics.

It is worth mentioning that the survey also has a positive side, showing that GenAI technology is having a significant impact on the industry. Chatbot/virtual agent adoption increased by 26% compared to 2022, and translation/text generation increased by 12% in 2023, reflecting advances in LLM technology.

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