Activities
Divisions
Programs
Activities
Divisions
Programs
More than 93% of Indian companies are eager to fund AI. Yet, CIOs encounter significant obstacles in hiring and cybersecurity. Lenovo's 2024 CIO Playbook discloses that Indian CIOs intend to spend a lot on AI, and are seeking solutions beyond generative AI such as security solutions, enhancing process efficiency and so on. Around 95% of Indian CIOs think that AI is crucial for business operations.
This year, Lenovo has released its yearly CIO Playbook. The current version, named 'CIO Playbook 2024 – Adopting More Intelligent AI', is supplemented with a detailed study by IDC on the implementation of AI across the Asia-Pacific area.
The CIO Playbook 2024 – It’s all about Smarter AI is an extensive study sponsored by Lenovo and carried out by IDC. The study surveyed more than 900 IT and business decision-makers across 12 markets in the Asia-Pacific area. These markets are comprised of India, Korea, Japan, ASEAN+ nations (including Singapore, Hong Kong, Thailand, Taiwan, Philippines, Malaysia, Indonesia) and ANZ (Australia and New Zealand). The respondents represent a broad range of sectors, including Banking, Financial Services, and Insurance (BFSI), Manufacturing, Retail, Telecommunications, Healthcare, and Government.
In line with Lenovo's AI for All strategy, the surveys carried out throughout AP seek to highlight the difficulties, possibilities, and main concerns related to the implementation of AI among Chief Information Officers (CIOs) in 2024. This thorough research delves into the changing scenery of AI incorporation, mirroring the combined knowledge and viewpoints of IT and business leaders throughout the area.
The report primarily notes a significant change in CIO's main interests, with AI coming up as the primary focus this year.
In the past, in 2023, the increase in revenue and profit was the top priority, but it has now fallen to the third spot.
On the other hand, customer experience and satisfaction have become increasingly important, highlighting the rising focus on strategies that prioritize the customer and the latest innovations in the business world.
Still, it's clear there's a lack of alignment between business heads and CIOs when it comes to AI technologies. Even as business chiefs champion the use of GenAI to improve customer service and outcomes, CIOs take a more carefully hopeful stance.
The study shows that Chief Information Officers (CIOs) place GenAI fourth in their list of technology priorities. They focus on AI tools that tackle issues related to security, infrastructure, and personnel within their companies. This inconsistency underscores the necessity for harmony between the company's strategic goals and technology expenditures to efficiently utilize AI's capabilities in the Asia Pacific region.
What is the status of Indian companies? Indian Chief Information Officers (CIOs) are at the forefront of GenAI investments in the Asia-Pacific (AP) area, with 28% of Indian CIOs and 33% of their Korean colleagues leading this movement. This progress is further supported by investments in AI technologies such as Cybersecurity and Threat Detection, Intelligent Automation and Robotics, and Automation focused on enhancing operational efficiency.
Around 28% of Indian Chief Information Officers (CIOs) have already begun investing in GenAI, with a notable 65% intending to do the same. Significantly, India is on the brink of seeing a 30% increase in spending on edge computing, which is predicted to produce large amounts of real-time data and subsequently reveal new AI application possibilities.
Given the current situation, Indian Chief Information Officers (CIOs) predict that Real-time analytics (70%) and Video surveillance & Security (53%) are the areas most likely to experience major changes due to artificial intelligence (AI). They plan to strategically implement AI in Business Intelligence to streamline processes, improve security, and maintain hygiene, as well as in Conversational AI. This suggests a strategic move towards AI-led improvements in various business operations.
Indian CIOs are dealing with various issues despite the encouraging trend of AI implementation in the country. A considerable 45 per cent of them admit that hiring for AI-specific positions is a major problem. In addition, more than half of them, specifically 55 per cent, are worried about their extensive dependence on external support. Additionally, 51 per cent of the participants felt that security continues to be a significant concern.
When it comes to implementing AI, Indian CIOs face significant worries about job stability, as indicated by 62% of those surveyed. Additionally, a stark shortage of sufficient IT backup for automation deployment is a concern for 64% of Indian CIOs.
The report indicates that the main difficulties for AI in 2024 will be data, security, and abilities. A significant tech issue is GenAI's dependence on large data sets, which are frequently lacking in many organizations. In terms of business, job security and the shortage of necessary AI skills are the main worries, especially for IT workers in developed markets. Interestingly, India has the highest level of job security in the region.
Operational AI positions like DataOps, SecOps, and DevOps continue to be available and pertinent, with 75% of them remaining unfilled. However, nearly half of the companies in the Asia-Pacific region, including India, find it challenging to recruit for AI-related roles, highlighting the need for strategies to overcome this shortage of skilled personnel. This situation emphasizes the need for businesses to focus on enhancing their employees' skills to efficiently adapt to the changing AI environment.
The study also shows a dominant inclination among Asia-Pacific (AP) Chief Information Officers (CIOs), with 69% showing a preference for running AI tasks in non-public cloud settings.
This viewpoint is particularly resonated in India, where 84% of CIOs have already incorporated AI into their security systems, and an additional 14% intend to do the same.
The study highlights a detailed strategy towards AI task distribution among AP businesses. On average, 31% of AI tasks are set to be deployed on public clouds, while a similar margin (28%) is intended for private cloud settings.
Sumir Bhatia, the President of Asia Pacific at Lenovo ISG, states that their company is integrating AI into all areas through their comprehensive pocket-to-cloud solutions, supported by an ecosystem of over 50 ISVs and more than 165 AI solutions. Leveraging the expertise of domain specialists and cutting-edge technologies, they are endeavouring to democratize AI and revolutionize client experiences.
Scott Tease, the VP of HPC & AI at Lenovo, suggests that the assignment of 13 per cent of AI tasks to conventional data centres indicates an increasing awareness of the significance of edge computing, which essentially moves AI functions nearer to the origin of data creation.
Hybrid cloud solutions are also becoming more popular, with an expected increase of 28 per cent in AI workloads planned for implementation.
Look for us on YouTube
Leading Shows
Associated News
NVIDIA's Jensen Huang believes AI hallucinations can be solved, predicts artificial general intelligence in about 5 years
Apple has officially released its multimodal AI model for text and image generation, MM1
Microsoft recruits Mustafa Suleyman, co-founder of DeepMind, to head its new consumer AI group
Samsung and Rebellions, South Korean chipmakers, aim to overtake NVIDIA
AI hallucinations can be corrected, and artificial general intelligence is projected to be around the corner in 5 years, says NVIDIA’s Jensen Huang
MM1, Apple's multimodal AI model for generating text and images, has been officially launched
Mustafa Suleyman, co-founder of DeepMind, has been hired by Microsoft to lead their new AI team for consumers
NVIDIA is being targeted by South Korean chip producers Samsung and Rebellions to be surpassed
Available on YouTube.
Firstpost owns all rights and is protected by copyright as of 2024
+ There are no comments
Add yours