Generative AI (genAI) technology promises to transform how enterprises operate, how employees do their jobs, and how consumers interact with brands. We’re in the early stages of genAI technology, and there are many questions around its use cases, risks, and real-world impact. Enterprises are balancing opportunity with apprehension; most are experimenting with genAI in their workflows, and many are developing production systems based on solutions from tech companies and service providers. This report explores the current state of generative AI from the demand and supply angles, how companies are adopting it, and what factors enterprises should consider when preparing to implement it.