AI-Powered Search Could Yield Staggering Productivity Returns
March 28, 2024
Share this

Nearly all (99%) global IT decision makers, regardless of region or industry, recognize generative AI's (GenAI) transformative potential to influence change within their organizations, according to The Elastic Generative AI Report.

However, early adoption continues to be slowed by chaotic data estates, search challenges, and fears around privacy and security, regulation, and internal skills gaps.

Despite these headwinds, the report found most IT decision makers (88%) are eyeing increased investments in GenAI in 2024 and beyond. This points to optimism that these technologies are poised to drive operational efficiencies and productivity, accelerate decision-making, improve customer engagement, and bolster security postures.

"In a little more than 12 months, the disruptive potential of GenAI has shifted from reverie to reality, capturing the imaginations and budgets of IT and data leaders," said Matt Riley, GVP & GM of Search at Elastic. "While data may fuel this technology, search is the engine that powers its effectiveness. Unsurprisingly, businesses that adopt search-powered GenAI quickest — grounded by business context — will lead and uncover the insights needed to securely innovate, build more efficient businesses, and pioneer new customer experiences."

"Generative AI is still an emerging technology, but it already promises to disrupt how organizations operate and engage with customers and employees," said Jason Bloomberg, Managing Director of analyst firm Intellyx. "In particular, GenAI is transforming the data management, security, and search challenges many businesses continue to face. Thoughtful application of this new technology will help them better anticipate customer needs and differentiate themselves from their competition."

Key Concerns

There's high enthusiasm for GenAI across regions and industries, but key concerns stifle operationalization strategies.

Across verticals, GenAI is poised to deliver tangible benefits for organizations. More than half of respondents (57%) anticipate it will improve resource (i.e., staff time, better costs) and operational efficiency and productivity, improve customer experience (50%), and lead to more accurate decision-making (48%).

However, despite early interest and planned investment, internal and external roadblocks threaten to slow GenAI adoption. Nearly 9 of 10 organizations anticipate budgets for GenAI will increase over the next three years, despite nearly all respondents reporting adoption is being slowed, primarily by fears around the security and privacy of the technologies (40%), regulation issues (37%), and the skills gap to implement the technologies in house (36%)

While a skills gap may continue to slow GenAI adoption, 4 of 10 respondents believe it will eventually help upskill and educate employees

Siloed Data Ecosystems

Siloed data ecosystems continue to expand in size and complexity, complicating security, visibility, and real-time analysi.

Most organizations continue to struggle to get relevant insights from their data, which leads to sluggish decision-making. Unsurprisingly, 3 of 4 (75%) respondents report the ability to view data across their entire environment is a key challenge for their organizations, while 7 of 10 (68%) report critical decisions are stalled by slow analysis of their organization's data.

While search powered GenAI is recognized as a key to unlocking transformative insights, effective search capabilities remain stunted. Nearly all respondents (97%) believe a conversational search experience would make their organizations more productive, and nearly half (44%) believe their organizations could save an average of two days or more per week per employee.

The majority of organizations (94%) face data search challenges driven by a struggle to use search results effectively (45%), the inability to cover multiple sources of information (44%), and the inability to obtain responses quickly enough (42%).

Security and Observability

Despite evolving IT infrastructures and data estates, there's optimism GenAI will illuminate security and observability blindspots.

IT security environments and threat landscapes have never been more complex, but there's confidence GenAI will alleviate many challenges. Nearly all organizations (97%) face IT security challenges, from the ability to detect and respond to threats quickly to maintaining current and relevant security practices, but nearly all respondents anticipate GenAI will bolster security postures, such as improving automated threat detection systems (53%), generating training exercises (50%), and automating responses to common security problems (49%).

Holistic observability remains a significant operational pain point, but GenAI offers hope. Nearly all organizations (95%) report observability challenges, from data silos to more complex applications, but nearly all respondents are confident GenAI would benefit their observability postures, specifically to enhance missing data handling (48%), improve data masking and privacy (43%), and to conduct rigorous and regular data quality assessments with synthetic data (43%).

Methodology: The report was produced in conjunction with independent market research specialist Vanson Bourne, and solicited 3,200 IT decision makers and decision influencers across the US, Europe, and Asia-Pacific from more than a dozen sectors, including telecommunications, public service, retail, and financial services.

Share this

The Latest

April 19, 2024

In MEAN TIME TO INSIGHT Episode 5, Shamus McGillicuddy, VP of Research, Network Infrastructure and Operations, at EMA discusses the network source of truth ...

April 18, 2024

A vast majority (89%) of organizations have rapidly expanded their technology in the past few years and three quarters (76%) say it's brought with it increased "chaos" that they have to manage, according to Situation Report 2024: Managing Technology Chaos from Software AG ...

April 17, 2024

In 2024 the number one challenge facing IT teams is a lack of skilled workers, and many are turning to automation as an answer, according to IT Trends: 2024 Industry Report ...

April 16, 2024

Organizations are continuing to embrace multicloud environments and cloud-native architectures to enable rapid transformation and deliver secure innovation. However, despite the speed, scale, and agility enabled by these modern cloud ecosystems, organizations are struggling to manage the explosion of data they create, according to The state of observability 2024: Overcoming complexity through AI-driven analytics and automation strategies, a report from Dynatrace ...

April 15, 2024

Organizations recognize the value of observability, but only 10% of them are actually practicing full observability of their applications and infrastructure. This is among the key findings from the recently completed Logz.io 2024 Observability Pulse Survey and Report ...

April 11, 2024

Businesses must adopt a comprehensive Internet Performance Monitoring (IPM) strategy, says Enterprise Management Associates (EMA), a leading IT analyst research firm. This strategy is crucial to bridge the significant observability gap within today's complex IT infrastructures. The recommendation is particularly timely, given that 99% of enterprises are expanding their use of the Internet as a primary connectivity conduit while facing challenges due to the inefficiency of multiple, disjointed monitoring tools, according to Modern Enterprises Must Boost Observability with Internet Performance Monitoring, a new report from EMA and Catchpoint ...

April 10, 2024

Choosing the right approach is critical with cloud monitoring in hybrid environments. Otherwise, you may drive up costs with features you don’t need and risk diminishing the visibility of your on-premises IT ...

April 09, 2024

Consumers ranked the marketing strategies and missteps that most significantly impact brand trust, which 73% say is their biggest motivator to share first-party data, according to The Rules of the Marketing Game, a 2023 report from Pantheon ...

April 08, 2024

Digital experience monitoring is the practice of monitoring and analyzing the complete digital user journey of your applications, websites, APIs, and other digital services. It involves tracking the performance of your web application from the perspective of the end user, providing detailed insights on user experience, app performance, and customer satisfaction ...

April 04, 2024
Modern organizations race to launch their high-quality cloud applications as soon as possible. On the other hand, time to market also plays an essential role in determining the application's success. However, without effective testing, it's hard to be confident in the final product ...