AI's Hidden Cost: Will Data Preparation Break Your Budget?
InformationWeek, Tuesday, February 4th, 2025
As enterprises race to implement AI strategies, the crucial step of preparing data could be creating a major hurdle.
During many major tech conferences and events in 2024, talk of implementing artificial intelligence was a common theme as IT leaders are tasked with creating new GenAI tools for business. But a common refrain was the need to prepare data for machine learning.
That need for clean data may slow AI launch efforts and add to costs.
A recent Salesforce report found CIOs are spending a median of 20% of their budgets on data infrastructure and management and only 5% on AI. A lack of trusted data ranked high on the list of CIOs' main AI fears. In another report, research firm International Data Corporation (IDC) says worldwide spending on AI will reach $632 Billion in 2028.