Use cases grow rapidly as technology
evolves, enterprises and providers craft models to meet specific
business goals, ISG Provider Lens™ report says
Global adoption of generative AI is growing rapidly, placing
pressure on enterprises to invest in the technology to remain
competitive, according to a new research report published today by
Information Services Group (ISG) (Nasdaq: III), a leading global
technology research and advisory firm.
The 2024 ISG Provider Lens™ global Generative AI Services
report, the first of its kind from ISG, finds that a growing number
of organizations are identifying ways to use GenAI to streamline
their operations and accelerate innovation. The automation and
efficiencies offered by GenAI allow companies to cut costs, carry
out tasks faster and more accurately and foster the creation of new
products and services for additional revenue streams.
“Enterprises are finding uses for GenAI that will deliver a
clear ROI and help them reach their long-term objectives,” said
Steve Hall, president and chief AI officer of ISG. “Working with
service providers, they are choosing adaptable AI technologies that
can evolve as the business grows.”
Enterprise GenAI projects, ranging from proofs of concept to
full-scale deployments, have proliferated over the past 12 months,
ISG says. The most rapid development is happening on text-based
applications, primarily due to relatively simple interfaces, rapid
ROI and broad usefulness. Companies have been especially aggressive
in implementing chatbots powered by large language models (LLMs),
which can provide personalized assistance, customer support and
automated communication on a massive scale.
However, most organizations have yet to tap GenAI’s potential
for applications based on images, audio, video and data, the report
says. Multimodal GenAI is still evolving toward mainstream
adoption, but use cases are rapidly emerging, and with ongoing
advances in neural networks and deep learning, they are expected to
become highly integrated and sophisticated soon.
GenAI application development is making a major shift from
fine-tuning of LLMs to smaller models that serve specific
industries, such as healthcare, finance and manufacturing, ISG
says. Enterprises and service providers increasingly recognize that
customized, domain-specific AI models offer significant advantages
in terms of cost, scalability and performance. The need for privacy
and security, specialization of tasks and integration of AI into
existing operations is contributing to this trend. While focusing
on customization, many organizations are using existing AI
platforms, toolsets and accelerators to carry it out.
Some companies that rely on IoT devices at the edges of networks
are beginning to implement GenAI models on them, the report says.
Techniques such as model compression and optimization can reduce
software size and computational requirements without compromising
performance.
“GenAI is branching out to a wide range of locations and use
cases,” said Jan Erik Aase, partner and global leader, ISG Provider
Lens Research. “Providers can help clients make it fit both
applications and hardware requirements.”
The report also explores other enterprise GenAI trends,
including the growing interest in agentic workflows that let AI
systems act as autonomous agents and the use of low-code/no-code
tools to develop GenAI models.
For more insights into the GenAI-related challenges enterprises
face, as well as ISG’s advice for charting a path forward, see the
ISG Provider Lens™ Focal Points briefing here.
The 2024 ISG Provider Lens™ global Generative AI Services report
evaluates the capabilities of 79 providers across six quadrants:
Strategy and Consulting Services — Large Providers, Strategy and
Consulting Services — Midsize Providers, Strategy and Consulting
Services — Specialists, Development and Deployment Services — Large
Providers, Development and Deployment Services — Midsize Providers
and Development and Deployment Services — Specialists.
The report names Accenture, Apexon, Ascendion, Birlasoft,
Brillio, Capgemini, Cognizant, DXC Technology, EXL, Fractal,
GlobalLogic, HARMAN, Hexaware, IBM, Infosys, Leeway Hertz, Mathco,
Network Science, NTT DATA, Persistent Systems, Quantiphi, Sagility,
TCS, Tiger Analytics, Tredence, Unisys, UST, Version 1, Virtusa,
Wipro and WNS Analytics as Leaders in two quadrants each. It names
Deloitte, HCLTech and Trigent as Leaders in one quadrant each.
In addition, HTC Global Services and Sigmoid are named as Rising
Stars — companies with a “promising portfolio” and “high future
potential” by ISG’s definition — in two quadrants each. HCLTech and
Tech Mahindra are named as Rising Stars in one quadrant each.
In the area of customer experience, HCLTech is named the global
ISG CX Star Performer for 2024 among providers of generative AI
services. HCLTech earned the highest customer satisfaction scores
in ISG's Voice of the Customer survey, part of the ISG Star of
Excellence™ program, the premier quality recognition for the
technology and business services industry.
Customized versions of the report are available from EXL,
GlobalLogic, Navikenz, Persistent Systems, Trigent, Unisys, Version
1, Virtusa and WNS.
The 2024 ISG Provider Lens™ global Generative AI Services report
is available to subscribers or for one-time purchase on this
webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only
service provider evaluation of its kind to combine empirical,
data-driven research and market analysis with the real-world
experience and observations of ISG's global advisory team.
Enterprises will find a wealth of detailed data and market analysis
to help guide their selection of appropriate sourcing partners,
while ISG advisors use the reports to validate their own market
knowledge and make recommendations to ISG's enterprise clients. The
research currently covers providers offering their services
globally, across Europe, as well as in the U.S., Canada, Mexico,
Brazil, the U.K., France, Benelux, Germany, Switzerland, the
Nordics, Australia and Singapore/Malaysia, with additional markets
to be added in the future. For more information about ISG Provider
Lens research, please visit this webpage.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 900 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including AI, cloud and data analytics; sourcing advisory; managed
governance and risk services; network carrier services; strategy
and operations design; change management; market intelligence and
technology research and analysis. Founded in 2006, and based in
Stamford, Conn., ISG employs more than 1,600 digital-ready
professionals operating in more than 20 countries—a global team
known for its innovative thinking, market influence, deep industry
and technology expertise, and world-class research and analytical
capabilities based on the industry’s most comprehensive marketplace
data. For more information, visit www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20241118639566/en/
Press Contacts: Will Thoretz, ISG +1 203 517 3119
will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
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