AI’s honeymoon with the company is coming to an end. It’s time to get down to business.
This is one of the main themes of IDC’s recent forecast report, “IDC FutureScape: Worldwide Artificial Intelligence and Automation 2024 Top 10 Predictions.”
But while IT decision-makers will carefully consider investments in AI and automation, you can rest assured that they will invest. In 2023, businesses worldwide spent $166 billion on AI solutions (AI software, hardware and services), but this spending is expected to increase 27% annually to reach $423 billion by 2027 , according to the IDC report.
With FutureIT Los Angeles taking place on March 12, we asked Maureen Fleming, VP of Program at IDC, to tell us about her top three predictions for enterprise adoption of AI and automation . Read on to hear his thoughts.
Prediction 1: AI will be judged more on its tangible business impact
Until now, GenAI has been seen as an exciting new technology without the pressure of commercial results. But that’s about to change, Fleming said, as executives seek to understand how AI and automation benefit the bottom line.
“Many organizations are happy to experiment with AI and automation,” she said. “But by next year, executives will be asking tough questions, such as: ‘How much will it cost to bring Generation AI into our business?’ “What new skills will our people need to manage AI and automation initiatives? and “How does this improve our financial performance?” »
As for how the benefits of Generation AI will be measured, Fleming said it depends on each organization’s existing business KPIs (key performance indicators). Some KPIs are linked to customer satisfaction scores or revenue growth. In DevOps, KPIs can be improvements in software quality or time to value. For IT operations, the KPI could be a reduction in manual activities.
