Businesses are bullish about disrupting their industries with AI with 78% considering it a competitive opportunity. However, fewer than 30% believe their IT teams have the key capabilities for rapid adoption. This is based on a poll of 300 C-suite, VPs or directors conducted by MIT Technology Insights in collaboration with telco company Telstra.
Management teams are almost twice as concerned about the lack of infrastructure for AI technology development than CEOs (32% vs. 17%) according to a survey of over 160 corporate retail employees. One third of management teams worry about the impact of AI on the workforce compared with 21% of CEOs. Strikingly, 90% of all those surveyed claimed to know how AI works in retail.
Eighty-five per cent of organizations are investing in AI technology, 72% of CIOs are “apprehensive” about regulating AI internally and 86% have Implemented formal AI Policies. AI is regareded as the number one priority for 2024, although CIOs are also thinking about cybersecurity and sustainability. Digital services company Logicalis interviewed 1,000 CIOs globally for the tenth edition of their CIO report.
Martech keeps taking larger bites out of marketing budgets: 17.3% last year, 19.9% this year, 23.5% next year, and 30.9% five years from now, according to the latest CMO Survey. This despite barely more than half (56.4%) of current tools being used and nearly half (48.8%) of the survey respondents reporting worse-than-expected results. Oddly enough, marketers rate selecting marketing technologies as the thing they do best.