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More than 93% of Indian companies are eager to put money into AI. However, Chief Information Officers (CIOs) encounter significant obstacles in staffing, cybersecurity. Lenovo's 2024 CIO Playbook indicates that Indian CIOs intend to make substantial investments in AI, exploring options beyond generative AI such as security solutions and process efficiency improvements. Roughly 95% of Indian CIOs consider AI as vital in business operations.
Lenovo has released its yearly CIO Playbook for the current year. The playbook, termed 'CIO Playbook 2024 – Welcoming Advanced AI', along with a study from IDC, provides a comprehensive examination of AI incorporation throughout the Asia-Pacific area.
The CIO Playbook 2024 – It’s all about Smarter AI is an in-depth research project sponsored by Lenovo and carried out by IDC. This study surveyed over 900 Information Technology and Business Decision Makers (ITBDMs) from 12 different markets in the Asia-Pacific (AP) area. The markets involved in this study are India, Korea, Japan, ASEAN+ nations (including Singapore, Hong Kong, Thailand, Taiwan, Philippines, Malaysia, Indonesia), and Australia and New Zealand (ANZ). The study represents a broad range of sectors such as Banking, Financial Services and Insurance (BFSI), Manufacturing, Retail, Telecommunications, Healthcare, and the Government sector.
In line with Lenovo's vision of AI for All, the research carried out across AP is designed to illuminate the difficulties, potentials, and main concerns related to the implementation of AI among Chief Information Officers (CIOs) for the year 2024. This thorough analysis explores the changing scenario of AI incorporation, mirroring the combined knowledge and viewpoints of IT and business executives throughout the region.
A significant finding in the report is the notable change in CIO's main focus, with AI becoming the primary issue this year.
In the past, income and earnings growth were the main focus in 2023, however, they have now fallen to the third spot.
On the other hand, there has been a surge in the importance of customer experience and satisfaction, highlighting an increasing focus on strategies that prioritize the customer and the latest technological advancements in the business world.
Nonetheless, a clear gap is noticeable between corporate executives and CIOs concerning AI technologies. While executives champion the prioritization of GenAI to improve customer interactions and boost outcomes, CIOs proceed with careful positivity.
The study shows that chief information officers (CIOs) place GenAI in the fourth position in terms of technology importance. They prioritize AI tools that tackle issues related to security, infrastructure, and skills within their companies. This difference underscores the importance of harmonizing business strategies and technology spending to efficiently exploit AI's capabilities in the Asia-Pacific region.
What is the performance of Indian companies? The spearheads of GenAI investments in the Asia-Pacific region are the Chief Information Officers (CIOs) from India, with 28 per cent of them being involved. Additionally, 33 per cent of Korean CIOs are also leading this trend. The progress is further shown by investments in AI technologies such as Cybersecurity and Threat Detection, Intelligent Automation and Robotics, and Automation that aim to enhance operational efficiency.
About 28% of Indian Chief Information Officers (CIOs) have already invested in GenAI, with a significant 65% planning to do the same. Interestingly, India is predicted to see a 30% increase in spending on edge computing, which is anticipated to produce large amounts of real-time data and subsequently reveal new AI usage situations.
In this context, Indian CIOs predict that Real-time analytics (70%) and Video surveillance & Security (53%) will be the areas most affected by AI. In addition, they plan to strategically use AI for Business Intelligence, with the goal of improving processes, increasing security, and boosting cleanliness, as well as Conversational AI. This shows a strategic move towards AI-powered improvements across various business operations.
Despite the positive trend of AI implementation in India, businesses face numerous obstacles. A considerable segment, about 45 percent of Indian CIOs, admit to difficulties in hiring for AI-focused positions. In addition, over half of Indian CIOs, 55 percent to be exact, are worried about their strong dependence on external assistance. Security continues to be a major worry for 51 percent of those surveyed.
When it comes to implementing AI, Chief Information Officers (CIOs) in India are deeply worried about job stability. This concern was expressed by 62% of those surveyed. Additionally, a significant 64% of Indian CIOs pointed out a severe deficiency in sufficient IT backup during the rollout of automation.
The report reveals that data, security, and skill-set are the main hurdles for AI in 2024. A significant technological obstacle is GenAI's dependence on large data sets, which are frequently lacking in many companies. From a business perspective, job security and a shortage of necessary AI skills are the leading worries, especially for IT workers in established markets. Interestingly, India displays the highest levels of job security within the area.
Jobs in operational AI such as DataOps, SecOps, and DevOps continue to be significant and attainable, with 75 percent prevalence. However, 45 percent of businesses across the Asia-Pacific region, including India, are having difficulty recruiting for AI-related roles, indicating a need to address this skill shortage. This situation highlights the critical need for organizations to focus on in-house training programs to successfully adapt to the changing AI environment.
The study also indicates a common tendency among Chief Information Officers (CIOs) in the Asia-Pacific (AP) region. 69% of them prefer to manage AI tasks in private cloud settings rather than public ones.
This viewpoint is particularly prevalent in India, where 84 per cent of Chief Information Officers (CIOs) have already incorporated AI into their security systems, and an extra 14 per cent intend to do the same.
The study highlights a sophisticated strategy for implementing AI workload among AP businesses. Roughly, 31% of AI tasks are set to be launched on public clouds, while an almost equal percentage (28%) are designated for private cloud settings.
Sumir Bhatia, the President of Asia Pacific at Lenovo ISG, states that they are incorporating AI in all areas via their pocket-to-cloud solutions, along with a network of over 50 ISVs and more than 165 AI solutions. He adds that with the help of domain experts and advanced technologies, they are enabling AI access for everyone, revolutionizing the customer experience.
Scott Tease, VP HPC & AI at Lenovo, notes that the assignment of 13% of AI tasks to conventional data centers highlights the increasing acknowledgement of the significance of edge computing. This shift brings AI abilities nearer to where data is produced.
Hybrid cloud solutions are also becoming increasingly popular, with an estimated additional 28 percent of AI tasks expected to be deployed.
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