Startups must strategize and budget for AI-assisted software development in 2024

Posted under: AI technologies
Date: 2024-01-29
Startups must strategize and budget for AI-assisted software development in 2024

Of all enterprise departments, product and engineering spend by far the most on AI technology. Doing so effectively stands to generate huge value—developers can complete certain tasks up to 50% faster with generative AI, according to McKinsey. But that’s not as easy as just throwing money at AI and hoping for the best. Enterprises need to understand how much to budget into AI tools, how to weigh the benefits of AI versus new recruits, and how to ensure their training is on point. A recent study also found that who is using AI tools is a critical business decision, as less experienced developers get far more benefits out of AI than experienced ones. Not making these calculations could lead to lackluster initiatives, a wasted budget, and even a loss of staff. At Waydev, we’ve spent the past year experimenting with the best way to use generative AI in our own software development processes, developing AI products, and measuring the success of AI tools in software teams.

Read more at: techcrunch.com