Updated March 14th, 2024 at 20:35 IST

Lenovo report shows 95% of Indian CIOs prioritise AI investments for 2024

According to the report, a staggering 95% of Indian CIOs consider AI as critical for business success in 2024, with 28% already investing in GenAI technologies.

Reported by: Business Desk
Future of artificial intelligence | Image:Freepik
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Lenovo's latest report, the 'CIO Playbook 2024 – It’s all about Smarter AI', 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.

India overview (Image: CIO Playbook 2024)

According to the report, a staggering 95 per cent of Indian CIOs consider AI as critical for business success in 2024, with 28 per cent already investing in GenAI technologies. This reflects a substantial shift in CIO priorities, with AI 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.

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“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 AI, 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 AI, noting that 57 per cent view it as a game-changer for their organisations. The increased investments in GenAI, machine learning, and deep learning systems underscore a commitment to enhancing operational efficiency, security, decision-making processes, and customer experiences.

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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.

Image: Lenovo

The report also highlights the preference among AP CIOs, with 69 per cent favouring non-public cloud environments for AI 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 & AI at Lenovo, emphasised the significance of edge implementations in bringing AI capabilities closer to data sources.

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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 AI adoption across industries.

The report also sheds light on the talent gap in AI-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.

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Published March 14th, 2024 at 20:35 IST