Home News Indian CIOs to Increase AI Investment in 2024

Indian CIOs to Increase AI Investment in 2024

Indian CIOs to Increase AI Investment in 2024

A recent survey conducted by Canva has highlighted a significant trend among Chief Information Officers (CIOs) in India towards increasing their investment in Artificial Intelligence (AI) tools in 2024. The findings come from a comprehensive analysis involving more than 1,360 CIOs from various countries, aiming to shed light on the strategic priorities, opportunities, and challenges faced by these IT leaders in the context of the burgeoning AI landscape.

Key Highlights:

  • A vast majority (93%) of Indian CIOs intend to boost their AI tool investment.
  • 92% believe AI can significantly enhance both the role of the CIO and the employee experience.
  • Concerns about the proliferation of AI tools, with 89% acknowledging the market is oversaturated.
  • 88% of CIOs are wary of application sprawl, which complicates security and operational efficiency.
  • Staffing challenges are prominent, with 55% indicating a shortage of IT personnel for training and securing new applications.

Indian CIOs to Increase AI Investment in 2024

The survey indicates that the integration of new applications into the workplace is increasing, but Indian CIOs are focusing on consolidation and simplification to manage complexity. Nearly 79% anticipate adopting 30-60 new apps in 2024, yet 88% are challenged by application sprawl. To counteract this, 52% are planning some level of consolidation.

- Ads -

IT departments are reported to be under strain, with over half of the CIOs stating they lack the necessary staff to effectively train employees on new applications. This situation emphasizes the importance of simplicity and user-friendliness in new technological tools.

AI’s influence is growing among CIOs, with a significant majority planning to increase their budgets for AI applications. The benefits recognized include time savings on creative tasks, app consolidation, and enhanced business insights. However, the challenge of selecting the right tools amidst a crowded market remains, with 89% of CIOs pointing to the confusion caused by the plethora of available AI tools.

The integration of AI into business operations is a top priority, with 92% of CIOs agreeing that AI can improve their roles and enhance employee experiences. Challenges such as integrating AI, accessing IT talent, and ensuring data security are noted, though many organizations have already established safeguards for responsible AI use.

Cameron Adams, co-founder and chief product officer of Canva, commented on the findings, emphasizing the delicate balance CIOs must maintain between embracing AI innovation and managing application sprawl. Canva’s introduction of Magic Studio in 2023, designed to consolidate AI-powered design tools, reflects a move towards simplifying the technology landscape for businesses.

- Ads -

LEAVE A REPLY

Please enter your comment!
Please enter your name here