AI is in the tire-kicking phase
Just like big data back in 2013, we’re in the “everyone’s doing it, no one knows why” phase of generative AI (genAI). A recent McKinsey survey found that 65% of enterprises are “regularly using genAI.” Promising! In Elastic’s recent earnings call, the company noted that over 1,000 customers are paying to build genAI applications. Wow! Each of the big cloud companies, as well as Oracle, has talked up how genAI is driving cloud spend. Amazing!