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.
