Artificial intelligence (AI) is rapidly reshaping the business world, and companies are taking notice by significantly increasing their investments. According to research published by Lenovo, spending on AI is expected to grow by 61% year-on-year in 2024, with IT leaders increasingly viewing the technology as a 'game changer'.
The new IDC eBook, 'CIO PlayBook 2024: It's All About Smarter AI', sponsored by Lenovo, found that 40% see AI as a 'game changer'. The research also found that across Europe, the Middle East and Africa (EMEA), spending on AI is projected to increase by a staggering 61% in 2024 compared to the previous year, driven by AI innovation and Highlighting the growing recognition of the ability to drive operational. performance.
Generative AI (Gen AI), which enables the creation of new content such as text, images and code, is particularly attracting the attention of enterprises. A remarkable 97% of organizations have either invested in Gen AI or plan to do so within the next year. This widespread adoption is fueled by technology's ability to streamline processes, enhance creativity and open up new possibilities across industries.
However, General AI is only one aspect of the broader AI revolution. Businesses are also shifting significant resources to interpretive AI, which helps analyze data and derive insights from it, and machine learning, which enables systems to learn and improve from experience without having to be explicitly programmed. makes
“We're at a point where AI is becoming a reality for organizations in every region and every sector,” says Giovanni DiFilippo, EMEA president of Lenovo Infrastructure Solutions Group. “CIOs are eagerly embracing the potential of not only generative AI but also interpretive AI, and must make the right technology investments and partnerships to maximize AI's value to their organizations.”
Lenovo's report describes AI as a 'game changer' across industries.
Enthusiasm for AI is spreading across industries, with manufacturing companies leading the charge, as 47% of them hail AI as a 'game changer'. Even traditionally cautious sectors like government and finance are embracing the technology, with half or more organizations in these domains already investing in creative AI.
While the potential benefits of AI are clear, challenges remain. Data privacy concerns, the limitations of AI models' capabilities, and the potential misuse of technology are among the top challenges presented by business leaders. Additionally, alleviating employee fears around job relocation and fostering an AI-friendly culture in organizations are key issues that should be addressed.
Despite these obstacles, the momentum behind AI adoption shows no signs of slowing down. “There is a growing awareness in every sector that AI offers the potential to increase efficiency and competitiveness,” commented Neil Ward Dutton, VPAI, Automation and Analytics Europe at IDC. “CIOs must invest in core technologies that take advantage of this opportunity, and ensure that AI expertise is not confined to a single team, but is spread throughout the organization.”
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