What are the top IT priorities for companies today? While they are admittedly varied, a ton of evidence points to artificial intelligence (AI) dominating the conversation. In particular, the possibilities and complexities that generative AI (GenAI) has presented, regarding opportunities and challenges both.
Info-Tech Research Group recently released its CIO Priorities 2024 report, which explores the capabilities and initiatives CIOs must prioritize to effectively leverage GenAI. Drawing from the insights of the firm's recent Tech Trends 2024 report, the CIO Priorities 2024 report includes a comprehensive industry analysis and outlines five key initiatives poised to drive significant value across diverse organizational contexts in 2024.
CIOs today are being tasked with determining where and how to add GenAI to improve operations and save time and money. At the same time, they are being faced with the dilemma of “build or buy.” Companies’ ability to adapt and thrive to today’s digital landscape – as well as customer demands -- may hinge on these choices.
The goal of the report is to provide companies with a strategic roadmap for CIOs and IT leaders to not only address but capitalize on the transformative potential of GenAI, ensuring their organizations can thrive amid the surging exponential growth of technological innovation, said the company.
"In our assessment of the 2024 IT landscape, GenAI emerged as the clear trend, a focal point of our Tech Trends 2024 report," states Brian Jackson, Principal Research Director and lead analyst for the report. "This technology introduces significant opportunities and challenges. The critical question for CIOs and IT leaders is which capabilities need enhancement to leverage these opportunities and which initiatives should be prioritized to navigate the accompanying enterprise risks effectively."
Jackson noted that GenAI is the “technology is the next wave lifting the expectations of customers and business stakeholders.”
Not all companies are reacting to the potential for generative AI equally, the research found. The data uncovered a cautious approach toward adopting new GenAI features among organizations, particularly those with lower IT maturity, and the report’s authors noted that this caution is possibly due to vendor risk or intellectual property concerns. By contrast, high IT maturity firms have been more proactive, with more than half reporting either planning to apply for beta access to new features or planning to move ahead upon their general availability.
Be part of the discussion about the latest trends and developments in the GenAI space at Generative AI Expo, taking place from February 13-15 in Fort Lauderdale, Florida. Generative AI Expo discusses the evolution of GenAI and feature conversations focused on the potential for GenAI across industries and how the technology is already being used to create new opportunities for businesses to improve operations, enhance customer experiences, and create new growth opportunities.
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