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AI spend is a lot like your car’s brake pads - the spend may get delayed, but it won’t be denied. Eventually, you’ll need some new parts.
There are a lot of CFOs out there hell bent on avoiding buyer’s remorse. Requests for new tools are coming across their desks every day, but falling dead on arrival after a simple question is asked:
“Are we sure this is still going to be the best tool for what we’re trying to accomplish in a year?”
The answer is, largely, no.
Everyone has AI on their agenda. And the pace of innovation is moving at an obscene rate. And that is actually a problem if you’re the seller.
During Microsoft's recent earnings call, Satya Nadella highlighted the strong interest in AI but also noted the hesitancy among customers.
Similarly, during ServiceNow’s Q1 2024 earnings call, the company emphasized that while there is significant demand, customers are taking a measured approach to ensure they select the right AI tools for long-term success.
CFOs don’t want to spend a bunch of money on software that might not be best in class in six months. Just look at Jasper AI - I’m pretty sure there are like 27 tools that do what they do now (no offense).
In my opinion, AI spend is just delayed. But it feels weird because there’s a mismatch of sorts between public discourse and actual check writing. The projects have yet to catch up to the vibes.
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