target audience: TECH SUPPLIER Publication date: Mar 2024 - Document type: IDC Survey Spotlight - Doc Document number: # US51974424
How Are Digital-Native Businesses Funding GenAI Projects?
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Abstract
This IDC Survey Spotlight answers the following question: How are digital-native businesses funding GenAI projects?
Digital-native businesses have been more open to adopting GenAI than their traditional business counterparts, but how are they funding those new GenAI projects? This IDC Survey Spotlight examines data from IDC's Future Enterprise Resiliency and Spending Survey to see how self-identified businesses are choosing to fund GenAI investments. Respondents were asked if they are redirecting budget from projects in areas such as AI, application modernization, and digital transformation, or if they are seeking new funding. The new funding could be either through individual departments or via the overall IT budget.
Finally, the document analyzes what is driving these GenAI funding strategies and recommends actions for technology suppliers.