Generative AI is quickly becoming a top priority for any company’s digital transformation strategy. It is hijacking conversations everywhere, from the boardroom to the dining room – we’re even seeing accelerated M&A (ie. MosaicML) to help businesses build their own foundation models and generative AI tools.
As business leaders assess how to be bullish on generative AI while mitigating risks such as bias, Domino Data Lab has announced findings from its second annual REVelate survey which explored what top data science leaders and practitioners really think about the technology. The result? 90% survey respondents believe that the hype surrounding Generative AI is beyond justified. Other key findings include:
- More than half (55%) of data science leaders believe it will have a significant impact on their business within the next 1-2 years.
- A mere 6% view piggybacking on the AI features planned by software vendors and other third parties as a viable strategy while the remainder (94%) believe their organizations must create their own generative AI offerings.
- Most see challenges surrounding governance (57%), mitigating bias and ensuring fairness (51%), as well as issues of control (49%), as being just as or more important, than having the skills for developing generative AI solutions (49%).
Methodology
In June 2023, Domino Data Lab surveyed the attendees at Rev 4, the enterprise AI and MLOps conference. The survey examined the impact, adoption plans, limitations, risks and related mitigation strategies that AI professionals see, or expect to see, as they adopt or develop Generative AI technologies across their employer’s organization.
The 162 respondents self-identified as one of the following: Data Science Executive (C-level/VP), Data Science Leader, Data Science Practitioner, IT Platform Owner. Due to sample size, findings specific to respondents in one of these roles are directional. Additionally, some subjective observations are based on interviews with Domino customers.
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