The generative AI market has been making waves in recent years, and its growth shows no signs of slowing down. In fact, the market doubled in size in 2024 and is expected to reach or exceed $100 billion by 2028, according to a recent study by Sopra Steria Next. This staggering growth is a clear indication that generative AI is no longer just a buzzword, but a tangible technology that is transforming industries and revolutionizing the way businesses operate.
Despite the immense potential of generative AI, many companies are still in the exploration phase, with only 22% of large companies having deployed generative AI at scale in 2024. This means that a significant majority of businesses are still testing the waters, trying to understand how to harness the power of generative AI to drive innovation and growth.
However, as we move into 2025, the major challenge for companies will be to move from testing phases to global deployments. This will require a significant shift in mindset, as well as a willingness to invest in the necessary infrastructure and talent to support large-scale generative AI implementations.
So, what can companies do to prepare themselves for the generative AI revolution? First and foremost, they need to develop a clear understanding of what generative AI can do for their business. This involves identifying areas where generative AI can add value, such as improving customer experience, streamlining operations, or enhancing product development.
Companies also need to invest in the necessary talent and skills to support generative AI deployments. This includes data scientists, AI engineers, and other experts who can design, develop, and implement generative AI solutions. Additionally, companies need to ensure that they have the right infrastructure in place to support large-scale generative AI deployments, including high-performance computing power, advanced data storage, and robust security systems.
Finally, companies need to develop a strategic roadmap for generative AI adoption, which outlines their goals, objectives, and timelines for deployment. This roadmap should take into account the company's overall business strategy, as well as its industry and market position.
In conclusion, the generative AI market is poised for explosive growth in the coming years, and companies that fail to prepare themselves for this revolution risk being left behind. By developing a clear understanding of generative AI, investing in the necessary talent and infrastructure, and developing a strategic roadmap for adoption, companies can position themselves for success in a market that is expected to reach or exceed $100 billion by 2028.