Lenovo report shows 95% of Indian CIOs favor AI investment for 2024

  • Industry News
  • Mar 19,24
According to the report, a staggering 95 per cent of Indian CIOs consider Al as critical for business success in 2024
Lenovo report shows 95% of Indian CIOs favor AI investment for 2024

Lenovo's latest report, the 'CIO Playbook 2024-It's all about Smarter Al', unveils significant trends in Artificial Intelligence (AI) adoption among Chief Information Officers (CIOs) in India and across the Asia-Pacific (AP) region. The report, based on a survey of over 900 CIOs, highlights the growing importance of AI in driving business strategies and enhancing customer experiences.

According to the report, a staggering 95 per cent of Indian CIOs consider Al as critical for business success in 2024, with 28 per cent already investing in GenAl technologies. This reflects a substantial shift in CIO priorities, with Al emerging as the top technology focus, surpassing revenue and profit growth objectives. Customer experience and satisfaction have also surged in priority, indicating a strategic shift towards innovation and customer-centric approaches.

"The way technology is being used in India is amazing. One of my colleagues fell sick, we had to get him a doctor. In most places, it'd take at least an hour. But here, in just 10 minutes he saw a doctor digitally and another 10 minutes later, he got medicines delivered. At the end of the day, everything is technology. Around Al, we're seeing a lot of developments in India, the start-up capital of the world." Sumir Bhatia, President. Asia Pacific, Lenovo Infrastructure Solutions Group, told Republic Business.

Amit Luthra, Managing Director of Lenovo ISG India, stressed the confidence Indian CIOs have in Al, noting that 57 per cent view it as a game-changer for their organisations. The increased investments in GenAl. machine learning, and deep learning systems underscore a commitment to enhancing operational efficiency, security. decision-making processes, and customer experiences.

GenAI investments are particularly significant in India and Korea, leading the Asia Pacific region, followed by other markets. Indian CIOs are leveraging AI technologies for cybersecurity, threat detection, intelligent automation, and robotics to boost efficiency. However, challenges such as dependence on third-party support, security concerns, and job security issues hinder widespread adoption.

The report also highlights the preference among AP CIOs, with 69 per cent favouring non-public cloud environments for Al workloads. This balanced approach to workload deployment includes a mix of public, private, and hybrid cloud solutions, reflecting the growing importance of edge computing. Scott Tease, Vice President of HPC & Al at Lenovo, emphasised the significance of edge implementations in bringing Al capabilities closer to data sources.

Sumir Bhatia reiterated Lenovo's commitment to democratising AI through pocket-to-cloud solutions and an ecosystem of partners. Bhatia emphasised the importance of addressing key challenges such as data management, security, and skills development to drive Al adoption across industries.

The report also sheds light on the talent gap in Al-related positions, with 45 per cent of AP and Indian enterprises struggling to hire skilled professionals. To bridge this gap, organisations are increasingly focusing on upskilling existing employees and internal solutions.

Related Stories

Policy Regulation
India Set to Launch Rs 1 Trillion Fund to Strengthen R&D, Innovation Ecosystem

India Set to Launch Rs 1 Trillion Fund to Strengthen R&D, Innovation Ecosystem

This initiative aims to foster a private sector-driven research and development environment in the country, further enhancing India’s position as a global leader in innovation and technological ad..

Read more
Process Equipment
Haber Unveils AI Green Chemistry Lab in Pune

Haber Unveils AI Green Chemistry Lab in Pune

The lab features an integrated pilot plant, allowing scientists to replicate large-scale manufacturing processes in a controlled environment.

Read more
Smart Manufacturing
Tier-2 cities set to contribute 35% of India’s advanced engineers by 2028

Tier-2 cities set to contribute 35% of India’s advanced engineers by 2028

On the occasion of National Engineers’ Day (September 15), Sachin Alug, CEO, NLB Services, presents his perspective on how India’s engineering talent pool is evolving to meet the country’s dig..

Read more

Related Products

Digital Colony Counter

INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY

Rising Sun Enterprises supplies digital colony counter.

Read more

Request a Quote

Robotic Welding SPM

INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY

Primo Automation Systems Pvt. Ltd. manufactures, supplies and exports robotic welding SPM.

Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016