“Hype over genAI fades as companies seek tangible returns on their AI investments.”

Gartner’s 2024 Hype Cycle reveals generative AI has moved from the peak of inflated expectations
into the trough of disillusionment. AI-augmented software engineering is also descending.

AI-assisted code generation tools are gaining traction as they cut down hours of manual coding.

Prompt engineering is peaking, tailoring algorithms like GPT-4 for specific uses.

Interest in genAI wanes as companies seek clear ROI, moving past initial hype.

Autonomous AI, such as AI agents, could lead to productivity gains and mainstream adoption.

By 2030, companies will spend $42 billion annually on genAI projects, like chatbots and research.

AI systems are evolving towards autonomous agents that can operate with minimal human oversight.

CIOs must also explore other emerging technologies for their potential benefits and strategic fit.

Gartner’s Hype Cycle highlights advanced AI systems moving from science fiction to reality.