Insights / Research Report / The State of the Generative AI Market: Widespread Transformation Continues
September 23, 2024

The State of the Generative AI Market: Widespread Transformation Continues

Mark Beccue
Principal Analyst, Artificial Intelligence

Mike Leone
Practice Director, Data Analytics & AI

Emily Marsh
Associate Research Director

Market Topics

Data Analytics & Artificial Intelligence

Generative AI (GenAI) has taken the world by storm since OpenAI introduced ChatGPT in late 2022, and it is widely considered one of the most potentially transformative technologies in many years. However, GenAI technology and the market ecosystem are evolving quickly, and many organizations are struggling to stay abreast of the constantly changing landscape. As this nascent market emerges, organizations continue to seek guidance to help steer their deployments, asking: What are the emerging best practices? Which use cases are prevailing? How mature is the market, and how is this maturity defined? Is it best to build, buy, or partner? The ever-evolving nature of the answers to these questions creates a complex scenario for organizations that want to leverage GenAI technology.

To gain further insight into these trends and challenges, TechTarget’s Enterprise Strategy Group surveyed 832 professionals at organizations across the globe involved in the strategy, decision-making, selection, deployment, and management of generative AI initiatives and projects at their organization and familiar with their organization’s use of third parties to support generative AI initiatives.

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