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More than 93% of Indian companies are eager to put money into AI. However, CIOs confront significant obstacles in hiring and cybersecurity. Lenovo's 2024 CIO Playbook discloses that Indian CIOs intend to invest significantly in AI, exploring options beyond generative AI such as security measures and process efficiency improvements. Approximately 95% of Indian CIOs consider AI as crucial in conducting business.
Lenovo has released its yearly CIO Playbook for the current year. Titled 'CIO Playbook 2024 – Adopting Smarter AI', the playbook comes with a report from IDC, providing a thorough examination of AI incorporation throughout the Asia-Pacific area.
The CIO Playbook 2024 – It’s all about Smarter AI, a comprehensive research study sponsored by Lenovo and implemented by IDC, surveyed over 900 IT and business decision-makers from 12 markets across Asia-Pacific. The markets surveyed span India, Korea, Japan, ASEAN+ nations (Singapore, Hong Kong, Thailand, Taiwan, Philippines, Malaysia, Indonesia), and ANZ (Australia and New Zealand). The participants 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' mission, the research carried out throughout the AP region is designed to highlight the problems, prospects, and key areas related to the acceptance of AI by Chief Information Officers (CIOs) in 2024. This extensive research dives deep into the changing environment of AI incorporation, mirroring the combined knowledge and viewpoints of IT and business heads across the area.
The primary takeaway from the report is the noticeable change in CIO's main focus, with AI now being identified as the most pressing issue this year.
In the past, in 2023, income and profit expansion were the top priority but have since fallen to the third spot.
On the other hand, customer satisfaction and experience have become more prominent, highlighting an increasing focus on customer-focused tactics and state-of-the-art advancements in the business world.
Nonetheless, there's a noticeable gap in understanding between corporate chiefs and CIOs when it comes to AI technologies. Business heads are pushing for a focus on GenAI to improve client interaction and boost outcomes, while CIOs are approaching the matter with careful positivity.
The study reveals that Chief Information Officers (CIOs) place GenAI fourth in their list of technology priorities, favoring AI systems that tackle security, infrastructure, and talent issues within their companies. This inconsistency underscores the necessity for harmony between strategic business goals and technology expenditures to efficiently utilize AI's capabilities in the Asia-Pacific region.
What is the state of Indian businesses? Indian Chief Information Officers (CIOs) are at the forefront of GenAI investments in the Asia-Pacific (AP) zone, with 28% of Indian CIOs and 33% of their Korean counterparts driving this movement. This progress is further demonstrated by their investments into AI technologies like Cybersecurity and Threat Detection, Intelligent Automation and Robotics, and Automation aimed at increasing operational efficiency.
Around 28 per cent of Indian Chief Information Officers (CIOs) have already started investing in General Artificial Intelligence (GenAI), with an remarkable 65 per cent intending to do the same. Importantly, India is set to see a 30 per cent increase in expenditure on edge computing, which is predicted to create a large amount of real-time data, thereby revealing new AI application possibilities.
In this context, Indian CIOs predict that Real-time analytics (70 percent) and Video surveillance & Security (53 percent) will be the areas most profoundly affected by AI. In addition, they plan to strategically use AI for Business Intelligence, which will help improve processes, increase security, and strengthen hygiene, as well as Conversational AI. This suggests a strategic move towards utilizing AI to improve various business functions.
Despite the potential growth of AI in India, companies are still facing multiple obstacles. About 45 per cent of chief information officers (CIOs) in India admit that hiring for AI-specialized positions is problematic. In addition, more than half of them (55 per cent) express worries about their overdependence on external assistance, while 51 per cent of the respondents consider security a major concern.
When it comes to implementing AI, Indian CIOs are deeply worried about job stability, a fear shared by 62% of those surveyed. Additionally, 64% of Indian CIOs pointed out a significant deficiency in sufficient IT backup for automation implementation.
The report highlights that the main issues for AI in 2024 will be data, security, and skills. A significant tech problem is GenAI's dependence on large data sets, which are frequently in short supply within companies. In the business sector, job stability and the lack of necessary AI abilities are the primary worries, especially for IT professionals in developed markets. Interestingly, India displays the greatest job security rates in the region.
Although AI-based positions like DataOps, SecOps, and DevOps still make up 75 per cent of the operational roles and remain crucial, 45 per cent of businesses in Asia-Pacific region, including India, find it challenging to fill these AI-related vacancies. This calls for immediate measures to address the shortage of skilled personnel. This situation emphasizes the need for companies to focus on enhancing the skills of their existing staff to effectively adapt to the ever-changing AI environment.
The study also shows a dominant inclination among Chief Information Officers (CIOs) in the Asia-Pacific (AP) region, where 69 per cent favor running AI tasks in private cloud settings.
This feeling is especially prevalent in India, where 84% of Chief Information Officers have already incorporated AI into their security systems, and another 14% intend to do the same.
The study emphasizes a detailed strategy towards AI task distribution among AP businesses. On average, about 31% of AI tasks are planned to be deployed on public clouds, while a similar percentage (28%) is set aside for private cloud settings.
Sumir Bhatia, the President of Asia Pacific at Lenovo ISG, expresses that the company is integrating AI in all areas through their pocket-to-cloud solutions and a network of over 50 ISVs and more than 165 AI solutions. They are leveraging the expertise of domain specialists and advanced technologies to drive 'AI for All' and revolutionize the customer experience.
Furthermore, the distribution of 13% of AI tasks in conventional data centers indicates an increasing acknowledgement of the significance of edge computing, which brings AI abilities nearer to where the data is created," states Scott Tease, the Vice President of HPC & AI at Lenovo.
Hybrid cloud solutions are also becoming more popular, with an estimated additional 28 per cent of AI tasks expected to be deployed.
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