In this PWC study, 59% of leaders said they will invest in new technologies, and 46% say they will invest in generative AI specifically in the next 12 to 18 months. The most significant hurdle is adequate cloud bandwidth/computing power to accommodate usage and enable scalability. That means coming to terms with how much money can be spent on new generative AI systems and generative AI enablement.
Generative AI is hot. Try reading any tech or business article these days without finding a mention. However, the computing and infrastructure costs of running generative AI models in the cloud are a barrier for many businesses. Even with today’s cheaper pay-as-you-go models, it is expensive to run generative AI models in the cloud, not to mention storing and retrieving the training data and using other massive computing and storage systems.
