SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 16 Mar, 2024  

IPR.9.Thmb.jpg 95 pc Indian CIOs believe AI key for business in 2024: Report

IPR.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 15 Mar, 2024
About 95 per cent of Indian CIOs believe that the adoption of Artificial Intelligence (AI) is key for business in 2024, according to a report on Thursday.

The report by International Data Corporation, commissioned by Lenovo surveyed over 900 CIOs, including more than 150 in India.

It reveals that organisations in Asia-Pacific are planning to increase AI spending by 45 per cent in 2024 compared to 2023.

"CIOs in India are most confident about AI, with 95 per cent expressing certainty that it will create a competitive advantage, and 57 per cent of them consider it to be a game changer for their organisations," said Amit Luthra, MD -Inid India, Lenovo ISG, in a statement.

"Higher investments in GenAI and machine learning followed by deep learning systems, underscore their desire to elevate operational efficiency, security, decision-making processes, and customer experiences,” he added.

Further, a key trend for Indian CIOs in 2024 includes investments in GenAI (28 per cent). The report showed that AI has significantly influenced top technologies including cybersecurity and threat detection, intelligent automation and robotics, and automation for enhanced efficiency in the country.

However, adoption challenges such as high dependence on third-party support (55 per cent) and security (51 per cent) were found as top concerns for Indian CIOs. Some were also concerned over job security (62 per cent) as well as lack of adequate IT support in automation deployment (64 per cent).

The report also showed that 84 per cent of CIOs in India are already using AI to enhance their security framework with 14 per cent planning to invest.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter