2023 Generative AI Case Study Analysis
We’ve all been waiting for this! IoT Analytics recently collected information on 274 publicly available generative AI (Gen AI) projects between June and November 2023. So, what did they uncover? Let’s dive into the key findings and then, of course, I’ll share my take on the matter.
Key Findings:
81% of projects include Gen AI in products made available to customers, while 19% of projects incorporate Gen AI in their own operations. This makes sense because including Gen AI in a public offering is much more likely to be part of a public announcement, whereas internal projects might never see the light of day.
55% of case studies are in the software industry. Unsurprisingly, this sector is rushing to integrate Gen AI into its products.
OpenAI and Microsoft dominate the foundational models and platforms market, holding a combined share of 69%.
NVIDIA leads the data center GPU segment with a whopping 92% market share.
The foundational models and platforms market exploded with the public release of ChatGPT in late 2022, reaching $3.0 billion in 2023.
My Take:
Generative AI is not just a buzzword; it’s a game-changer across industries. From crafting perfect customer service responses to designing cutting-edge software, Gen AI is making waves everywhere. But here's the kicker: it’s not a one-size-fits-all solution.
You’ve got options. Want to build your own AI? Go for it. Prefer open-source? That’s on the table too. Or maybe you’re more into buying commercial solutions or mixing it all up. My advice? For a quick start without the technical headaches, ready-made AI solutions are your best bet. They’re like pre-built houses—you get everything you need, move in fast, and get on with your life (or business).
But let’s talk about customization because that’s where the magic happens. Think of AI like a tailor-made suit. Off-the-rack might work, but nothing beats the fit and feel of something made just for you. The same goes for AI. Customization can range from simple tweaks to full-on training sessions. The more you fine-tune, the better it fits your business. And for the best fit? Integrate your own data. Make it truly yours, just like how a bespoke suit is stitched to fit your exact measurements.
In the end, it’s all about finding what works best for you. Generative AI is powerful, but only if you wield it right. So, take the time to understand your options, consider your needs, and tailor your AI strategy to fit like a glove.
References:
IoT Analytics - The leading generative AI companies, 2023: https://iot-analytics.com/leading-generative-ai-companies/
