The proliferation of artificial intelligence is a driver of companies' IT modernization strategies, but continued spending on this technology could potentially avoid some potential problems. , a new study claims.
According to a Couchbase survey of 500 senior IT decision makers, investments in IT modernization will increase by 27% in 2024, with technologies like generative AI playing a key role.
However, the outlook is not entirely bright, with many companies expressing concerns about their readiness to implement innovative technologies.
Is it too early for companies to invest in AI?
According to the report, three in five people (59%) are concerned about their ability to manage their data in response to the demands of generative AI, but do not currently have a comprehensive data strategy tailored for this purpose. Fewer than one in five (18%) report that they are.
A similar number (60%) express concerns about the capabilities of their organization's computing power and data center infrastructure.
Matt McDonough, senior vice president of products and partners at Couchbase, emphasized the critical role of data architecture in the widespread deployment of AI tools:
“Companies need to be confident that their data architectures can handle the demands of GenAI. Without fast access to accurate, tightly controlled data, individuals and organizations can easily be led down the wrong path. Because it is possible.”
Companies surveyed by Couchbase expect to spend an average of $35.5 million on IT modernization in 2024, with one-third of the budget allocated to artificial intelligence. Specifically, the average value for generative AI was $6.7 million, or about 19% of the total budget.
McDonough summed it up this way: “Investing in the right data management and infrastructure in his architecture will help unlock the transformational potential of GenAI.”
As pressure increases for companies to explore new AI technologies, Couchbase's research serves as a stark wake-up call, highlighting the importance of a solid data foundation.
