The survey found 79 percent of the respondents have purchased generative AI tools or invested gen AI projects. Thirty-one percent plan to spend more than $10 million each on initiatives in the area. The report, “Generative AI Benchmark Report”, was conducted in August 2023 by Enterprise Technology Research for Qlik, surveyed 200 C-Level executives, VPs, and Directors from Global 2000 firms across multiple industries. The study noted respondents generally see traditional AI as continuing to produce value in areas such as predictive analytics. They expect gen AI to extend the uses of AI beyond data scientists and engineering. However, 44 percent of the organizations surveyed lack a clear generative AI strategy. In approaching gen AI, 68 percent plan to use public or open-source models refined with proprietary data, while 45 percent are considering building models from scratch.”