GenAI Is The Talk Of The Town
Dell News, Thursday, October 5,2023
GenAI is the talk of the town. Even my older relatives, family and friends who've never been too keen on tech are suddenly debating 'the ChatGPT.' That's when you realize it's more than just a trend. AI is already changing how we live, work and learn.
Built on the innovations of the last 40 years, GenAI is on the fastest adoption curve of any technology I've ever seen, with 75% of businesses already reporting quantified outcomes with GenAI initiatives.1 The projected growth of tokens generated by GenAI is a good proxy of what is coming our way, with growth of 100x by 2028.
AI workloads are vastly different from traditional applications in the data center. Today's GenAI workloads, in particular, require various forms of accelerated computing optimized for massive parallel data processing. And so, we are bullish that AI expands the TAM for technology spending, with the AI hardware and services market projected to grow at an 18% CAGR over the next few years to approximately $124B.