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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 hiring and ensuring cybersecurity. In the 2024 version of the CIO Playbook by Lenovo, it is disclosed that Indian CIOs intend to make substantial investments in AI, exploring options beyond generative AI like security solutions, enhancing process efficiency, etc. Approximately 95% of Indian CIOs think AI is crucial for conducting business.
Lenovo has released its yearly CIO Playbook for the current year. The playbook, titled 'CIO Playbook 2024 – Adopting Smarter AI' and supplemented with a report from IDC, provides a comprehensive study of AI incorporation throughout the Asia-Pacific area.
The CIO Playbook 2024 – It’s all about Smarter AI is an in-depth study sponsored by Lenovo and carried out by IDC. It surveyed over 900 IT and business decision-makers across 12 markets in the Asia-Pacific region. The surveyed markets include India, Korea, Japan, ASEAN+ countries such as Singapore, Hong Kong, Thailand, Taiwan, the Philippines, Malaysia, Indonesia, and ANZ, which consists of Australia and New Zealand. The study includes participants from a variety of industries like Banking, Financial Services and Insurance (BFSI), Manufacturing, Retail, Telecommunications, Healthcare, and Government.
In line with Lenovo's goal of AI accessibility, the surveys carried out throughout AP aim to highlight the difficulties, prospects, and main focuses related to AI implementation among Chief Information Officers (CIOs) in 2024. This thorough research delves into the changing scenery of AI incorporation, embodying the shared knowledge and viewpoints of IT and business heads throughout the area.
A crucial finding in the report is a significant change in CIO's main focuses, with AI becoming their primary worry this year.
Earlier, in 2023, revenue and profit growth were the main focus but now they've dropped to the third spot.
On the other hand, customer experience and pleasure have become more prominent, highlighting an increasing focus on strategies centered around the customer and the latest advancements in the business sphere.
Nonetheless, a clear disparity is noticeable between corporate leaders and CIOs when it comes to AI technology. Even as business heads push for putting GenAI at the forefront to boost customer interaction and outcomes, CIOs proceed with measured hopefulness.
The study suggests that Chief Information Officers (CIOs) place GenAI as their fourth most important technology focus. They prioritize AI applications that tackle issues related to security, infrastructure, and workforce within their companies. This inconsistency underscores the necessity for coordination between strategic business goals and technology spending to efficiently exploit AI's capabilities in the AP region.
How are Indian companies performing? Indian Chief Information Officers (CIOs) are at the forefront of GenAI investments in the Asia-Pacific (AP) region. 28% of Indian CIOs and 33% of their Korean peers are driving this trend. The acceleration of this movement is also supported by investments in AI technologies like Cybersecurity and Threat Detection, Intelligent Automation and Robotics, and Automation designed to enhance operational efficiency.
Around 28% of Indian CIOs have already begun investing in GenAI, and an impressive 65% intend to do the same. Importantly, India is set to see 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.
In this context, Indian Chief Information Officers (CIOs) predict that Real-time analytics (70 percent) and Video surveillance & Security (53 percent) are the sectors that will be most significantly influenced by AI. In addition, they plan to strategically implement AI for Business Intelligence, with the goal of improving processes, boosting security, and promoting hygiene. This also includes Conversational AI, suggesting a strategic move towards AI-powered improvements across various business operations.
Even though there's a positive trend in AI implementation in India, several obstacles remain. A considerable number of Indian CIOs, about 45%, admit that hiring for AI-related positions is a struggle. Furthermore, over half of Indian CIOs (55%) are worried about their strong dependence on external support, while security continues to be a major concern for 51% of them.
When it comes to implementing AI, Chief Information Officers (CIOs) in India are deeply worried about job stability, as indicated by 62% of those surveyed. Additionally, 64% of Indian CIOs pointed out a significant shortage of sufficient IT backing in the roll-out of automation.
The report suggests that in 2024, the main hurdles for AI will be data, security, and skills. GenAI's dependence on large amounts of data is a significant technological issue, since many organizations often lack such resources. From a business perspective, job security and a lack of necessary AI skills are major worries, especially for IT workers in developed markets. Interestingly, India displays the greatest job security in the region.
Functional AI positions such as DataOps, SecOps, and DevOps continue to be significant and readily available, with 75 per cent representation. However, almost half of the businesses in the Asia-Pacific region, including India, have difficulty in hiring for AI-related roles, highlighting the need to address this skill shortage. This situation emphasizes the importance for companies to focus on in-house training programs to efficiently adapt to the changing AI environment.
The study also shows a dominant inclination among Chief Information Officers (CIOs) in the Asia-Pacific (AP) region. 69% of them expressed a liking for running AI tasks in non-public cloud settings.
The feeling is especially resonant 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 sophisticated method for implementing AI tasks in AP businesses. On average, 31% of AI tasks are planned for deployment on public clouds, while a similar percentage (28%) is reserved for private cloud settings.
Sumir Bhatia, who serves as the President of Asia Pacific at Lenovo ISG, states that they are disseminating AI across the board through their pocket-to-cloud solutions. They also have an ecosystem consisting of more than 50 ISVs and over 165 AI solutions. He adds that using industry specialists and advanced technologies, they are facilitating the use of AI for everyone, thereby revolutionising the customer experience.
Scott Tease, VP of HPC & AI at Lenovo, indicates that the 13% distribution of AI tasks at conventional data centres is indicative of increasing awareness of the significance of edge computing. This involves bringing AI functionality nearer to the point of data creation.
Hybrid cloud solutions are also growing in popularity, with an expected increase of 28 per cent in AI workloads planned for implementation.
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