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90% of Indian CIOs to increase spending on AI tools by 2024: Report

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90% of Indian CIOs to increase spending on AI tools by 2024: Report

New Delhi, Feb 5 (IANS) Artificial intelligence (AI) dominates the mindshare of Indian chief information officers (CIOs), with more than 90% looking to increase spending on the right tools, according to a report released on Monday .

The report by Canva, the world’s only all-in-one visual communication platform, is based on a survey of more than 1,360 CIOs in India, US, UK, France, Germany, Spain, Brazil, Mexico and Australia.

The report showed that nearly all CIOs (93 percent) plan to increase their budget to make investments in AI applications, with more than half (51 percent) of budget increases of more than 50 percent.

IT leaders recognize the benefits of adopting AI, including saving time on creative or strategic tasks (53%), helping to consolidate applications (53%), and providing more information to guide business decisions (49%).

Identifying the right solution is a challenge, with 89% saying there are already too many AI tools available, leading to confusion and overlap among employees.

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“Our findings reinforce that CIOs in India want to be agents of change and innovation, choosing technology that helps their organizations have greater impact while consolidating costs and reducing complexity,” said Cameron Adams, co-founder and Product Director of Canva.

The report shows that more and more applications are entering the workplace, but consolidation and reducing complexity are priorities.

With the number of new applications increasing, application sprawl (the growth of individual applications used in a workplace) is a challenge for 88% of CIOs, with 47% very concerned about increasing complexity, but they plan to reduce it. .

Fifty-two percent are planning some level of consolidation, and 30 percent are planning significant levels.

The increase in applications is also overwhelming IT equipment, the report said. More than half (55%) of CIOs report that they do not have enough staff to train employees on new applications, including their proper use.

In addition, the integration of AI is also high on the agenda of CIOs. Almost all CIOs (92%) strongly agree that AI tools can dramatically improve both their role and the experience of their employees, but cite AI integration (56%), access to IT talent (34%) and data security (22%). percent) as the most common challenges.

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Most seem willing to take advantage of the technology, with 79% saying they have strong guardrails in place to ensure safe and responsible use.

“Navigating through the avalanche of new technologies designed to make business easier is proving to be more difficult than ever. The balancing act CIOs face is an unenviable one: innovating with AI, but not contributing to the expansion of applications,” said Adams.

— IANS

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