Concerns around accuracy are slowing down the pace of generative AI (genAI) deployments, a new survey from Lucidworks found.

Over 2,500 AI technology leaders worldwide were surveyed, and the study found that over half (58%) of manufacturing leaders are planning to increase their AI spending this year. This is lower than the global average for all leaders (63%).

This is a major drop, as 93% of manufacturing leaders and 93% of all leaders surveyed were planning to increase AI spending in 2023.

This drop can have a massive impact on AI investment as executives stake their success on the emerging technology.

Manufacturing leaders showed the most concern about the accuracy of generative AI, which can produce hallucinations, or completely inaccurate, nonsensical outputs.

While 36% of all leaders in the survey are concerned about accuracy, 44% of manufacturing leaders shared their concern.

This could contribute to the finding that only 20% of AI projects have been implemented by manufacturers in the past year. However, 55% of them think they are implementing AI at the same rate as their peers.

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Manufacturers do seem prepared to spend big on AI, as 70% of manufacturing companies are opting for more expensive AI models than their counterparts.