On October 30, 2023, President Joe Biden issued a landmark Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence (AI). The Executive Order represents a comprehensive statement of intent for AI regulation, mandating transparency from firms that use AI and establishing safety and security standards. Moreover, it compels AI developers to disclose the outcomes of safety evaluations to the U.S. government, especially if the results indicate a potential threat to national security.

With its rise in popularity generative AI has emerged as a top CEO priority, and the importance of performant, seamless, and secure data management and analytics solutions to power those AI applications is essential. Cloudera Private Cloud Data Services is a comprehensive platform that empowers organizations to deliver trusted enterprise data at scale in order to deliver fast, actionable insights and trusted AI.

The past year has seen an unprecedented AI hype wave triggered by the launch of OpenAI’s ChatGPT. Analysis abounds on whether the hype is real, where value will accrue and whether generative AI-first product builders have a real shot at category disruption or creation. As frenzied R&D and market activity continue unabated, market maps and take after take continue to drop hot. But what about revenue?

API pricing is important for developers and businesses alike, as it shapes strategic decisions and resource allocation. As APIs are integral to AI App developers’ frameworks , cost-value alignment in pricing ensures informed choices for organizations and customers alike, preventing unexpected financial hurdles. For AI-based API products like the ChatGPT API, pricing models must offer clarity and flexibility.

2024 is going to be an important transition year for artificial intelligence. 2023 was the public debut of generative AI and large language models (LLMs), a year of amazement, excitement, occasional panic and, yes, more than a little bit of hype. The year ahead is when businesses begin to make the promise of advanced artificial intelligence real, and we’ll begin seeing the effects on how we work and live.

In one of our recent blog posts, about six key predictions for Enterprise AI in 2024, we noted that while businesses will know which use cases they want to test, they likely won’t know which ones will deliver ROI against their AI and ML investments. That’s problematic, because in our first survey this year, we found that 57% of respondents’ boards expect a double-digit increase in revenue from AI/ML investments in the coming fiscal year, while 37% expect a single-digit increase.