Global IT leaders see GenAI as transformative, says Elastic study

A recently released study has demonstrated that generative Artificial Intelligence (GenAI) has been recognised as transformative by practically all (99%) worldwide IT decision-makers. The research, executed by Elastic, dives into the state of AI adoption across the globe.

The report, "The Elastic Generative AI Report: One Year On, Identifying the Impact and Challenges of Early Generative AI Implementation Worldwide", further uncovers that nine out of ten organisations are planning to step up GenAI investment in 2024 and beyond despite obstacles hindering early adoption.

As Elastic's research found, obstacles that have stalled the early incorporation of GenAI include chaotic data estates, challenges related to search, and concerns regarding privacy, security, regulatory compliance, and internal skill gaps. These hurdles have yet to prevent most IT decision-makers from recognising GenAI's transformative potential.

Focusing on Australia specifically, the research revealed high levels of enthusiasm for GenAI across different sectors. The report found that almost all (99%) IT decision-makers in Australia acknowledge GenAI's transformative power in inciting change within their organisations. With this optimism, a majority (74%) of operational respondents in Australia are planning to increase investments in GenAI within the next two to three years.

However, the survey also noted that disjointed data ecosystems continue to pose complexity to security and real-time analysis. The report highlighted this phenomenon, with 75% of respondents admitting that observing data across their entire environment serves as a challenge. It also mentions how seven out of ten (69%) report that slow data analysis stalls crucial decisions.

Despite these challenges, the report uncovered an underlying optimism regarding GenAI's potential to uncover and address security and observability blind spots. A whopping 97% of Australian organisations recognise IT security challenges, from fast threat detection and response to upkeep of current and relevant security practices. However, they also anticipate that GenAI would strengthen their overall security postures.

The research conducted by Elastic also revealed that roughly half (44%) of the world's IT decision-makers believe that search-powered GenAI could potentially save employees at least two days per working week.

Most IT decision-makers (88%) are eyeing increased investment in GenAI in 2024, and this is despite nearly all respondents reporting delayed adoption, primarily due to concerns around security and privacy of technologies (40%), regulation issues (37%), and skills gap for their implementation (36%).

Finally, despite evolving IT infrastructures and data estates, there is growing optimism that GenAI will illuminate security and observability blind spots. Close to all organisations (97%) identify IT security challenges, but respondents anticipate that GenAI will strengthen their security postures.

It is apparent from Elastic's research that, despite hurdles, organisations are hopeful about the transformative potential of GenAI, planning increased investments and expecting it to bring about significant changes in security and operational efficiency.