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More than 93% of Indian companies are eager to put funds into AI. Nonetheless, Chief Information Officers (CIOs) encounter huge difficulties in hiring, cybersecurity. Lenovo's 2024 version of the CIO Playbook discloses that Indian CIOs intend to spend largely on AI, and will consider options beyond generative AI, such as security measures, boosting process efficiency, and so on. Approximately 95% of Indian CIOs think AI is crucial in conducting business.
Lenovo has unveiled its yearly CIO Playbook for the current year. The playbook, named 'CIO Playbook 2024 – Adopting Intelligent AI', is supplemented with an IDC report and offers a comprehensive examination of AI incorporation throughout the Asia-Pacific area.
The CIO Playbook 2024 – It’s all about Smarter AI is an extensive research study, sponsored by Lenovo and executed by IDC. The study was carried out involving over 900 IT and business decision-makers from 12 different markets in the Asia-Pacific region. This includes India, Korea, Japan, ASEAN+ nations (like Singapore, Hong Kong, Thailand, Taiwan, Philippines, Malaysia, and Indonesia), and ANZ (which comprises Australia and New Zealand). The participants come from a variety of sectors such as Banking, Financial Services and Insurance (BFSI), Manufacturing, Retail, Telecommunications, Healthcare, and Government.
In line with Lenovo's goal of making AI accessible to everyone, they have carried out surveys throughout AP to gain insight into the difficulties, prospects, and main concerns linked to AI implementation amongst Chief Information Officers (CIOs) in 2024. This exhaustive research explores the changing scenario of AI incorporation, mirroring the combined opinions and viewpoints of IT and business heads from across the region.
The report significantly notes a change in CIO's main priorities, with AI becoming the primary focus this year.
Earlier, in 2023, income and profit expansion were in the leading position, but they have now dropped to the third rank.
Alternatively, there has been a notable increase in the focus on customer experience and satisfaction, highlighting the rising importance of strategies centered on the customer and state-of-the-art advancements in the business world.
Nonetheless, there appears to be a misalignment between business heads and CIOs when it comes to AI technologies. Even though business chiefs urge for the prioritization of GenAI to improve customer relations and boost performance, CIOs tend to approach it with a careful, hopeful outlook.
The study shows that GenAI is considered the fourth most important technology by CIOs, with a focus on AI solutions that tackle security, infrastructure, and talent issues within their companies. This difference underscores the necessity of harmonizing business strategies and technology spendings to fully exploit the capabilities of AI in the AP area.
What is the performance of Indian companies? Indian Chief Information Officers (CIOs) are at the forefront of GenAI investments in the Asia-Pacific (AP) region, with 28% of Indian CIOs and 33% of their Korean peers driving this movement. This progress is also demonstrated by investments in AI technologies like Cybersecurity and Threat Detection, Intelligent Automation and Robotics, and Automation aimed at enhancing operational efficiency.
A significant number, around 28%, of CIOs in India have already started investing in GenAI, with a promising 65% intending to do the same. Importantly, there's an anticipated 30% increase in spending on edge computing in India, which is predicted to produce large amounts of real-time data and subsequently reveal new AI application possibilities.
In this context, Indian Chief Information Officers (CIOs) predict that Real-time analytics (70%) and Video surveillance & Security (53%) are the areas most likely to see substantial effects from AI. Moreover, they have strategically earmarked AI for Business Intelligence, with the goal of improving processes, boosting security, and strengthening hygiene. This includes the use of Conversational AI, signifying a strategic transition towards AI-driven improvements in various business operations.
Despite the positive trend of AI implementation in India, numerous hurdles persist. A substantial 45% of Indian Chief Information Officers (CIOs) admit to facing difficulties in hiring for AI-related positions. Additionally, adoption issues are a major concern, with 55% of Indian CIOs worried about their dependence on external assistance. Security also continues to be a significant concern for 51% of those surveyed.
When it comes to implementing AI, Indian CIOs are deeply worried about job stability, a concern shared by 62% of those surveyed. Additionally, 64% of Indian CIOs pointed out a significant deficiency in proper IT support for automation implementation.
The report highlights the main obstacles for AI in 2024 as being data, security, and skills. A significant technological hurdle is GenAI's dependency on large data sets, which are frequently in short supply within companies. From a business perspective, job security and the lack of necessary AI skills are the main worries, especially for IT workers in developed markets. Interestingly, India demonstrates the greatest job security within the area.
Operational AI positions such as DataOps, SecOps, and DevOps continue to be attainable and pertinent, with 75 per cent accessibility. However, 45 per cent of businesses in the Asia-Pacific region, including India, find it challenging to hire for AI-related roles, highlighting the need for efforts to close this skills shortage. This situation emphasizes the critical need for companies to prioritize internal training programs to effectively adapt to the changing AI environment.
The study also unveils a dominant inclination among Chief Information Officers (CIOs) in the Asia-Pacific (AP) region. 69 percent of them favor running AI tasks in non-public cloud settings.
This viewpoint is especially prevalent in India, where 84 percent of CIOs have already incorporated AI into their security systems, and another 14 percent are intending to do the same.
The study highlights a sophisticated strategy for implementing AI tasks among AP businesses. Generally, 31% of AI tasks are scheduled for implementation on public clouds, while a comparable percentage (28%) is set aside for private cloud settings.
Sumir Bhatia, the President of Asia Pacific at Lenovo ISG, states that they are incorporating AI in every possible way through their pocket-to-cloud solutions. They have developed an ecosystem with more than 50 ISVs and over 165 AI solutions. With the help of industry experts and advanced technologies, they aim to make AI accessible to everyone and revolutionize the customer experience.
Scott Tease, VP HPC & AI at Lenovo, says that the fact that 13% of AI tasks are being handled at conventional data centres indicates an increasing awareness of the value of edge computing, which places AI functions nearer to where data is produced.
Hybrid cloud solutions are also becoming increasingly popular, with an anticipated increase of 28 per cent in AI workloads planned for implementation.
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