94% of Tech leaders to spend money on AI, 5G & extra

Generative AI is of explicit curiosity to leaders for the advantages of value financial savings, effectivity and effectiveness.

An AI hand and business person's hand touching a brain.
Picture: peshkova/Adobe Inventory

Financial perils however, 94% of tech leaders are dedicated to investing in new instruments and applied sciences, together with AI, in keeping with a survey by EY.

The brand new ballot suggests tech leaders view this funding technique, significantly for cybersecurity, as a strategy to climate geopolitical uncertainty and the financial downturn. Ninety-four % of respondents to the ballot stated innovation will assist their corporations emerge from the present financial scenario stronger.

As well as, 78% of these polled stated distant work positively impacted their firm’s innovation objectives, and 81% stated their firm plans to make an innovation-related acquisition within the subsequent six months.

SEE: IBM launches watsonx, making AI deployment simpler (TechRepublic)

Ken Englund, the know-how, media and telecommunications chief for EY Americas, stated within the press launch about this EY survey that the outcomes counsel resiliency within the face of buffeting uncertainties. “As our most up-to-date know-how pulse ballot factors to, leaders are searching for the proper stability between safeguarding their operations and driving ongoing innovation and development.”

Give attention to cybersecurity, 5G, AI, huge information, metaverse investments

Ninety % of the tech leaders polled stated their corporations are engaged on generative AI performance just like ChatGPT, and 80% of respondents stated they may enhance funding in numerous types of AI within the subsequent yr, despite calls this yr by such tech luminaries as Elon Musk and Yoshua Bengio, an originator of synthetic neural networks, for a moratorium on the event and deployment of such programs.

SEE: Gartner discovered that ChatGPT curiosity is boosting generative AI investments (TechRepublic)

Greater than half of tech executives whose corporations are experimenting with generative AI stated they’re doing so for financial financial savings.

Amongst tech executives at corporations planning to extend know-how investments:

  • 74% plan to prioritize cybersecurity.
  • 62% will concentrate on huge information or analytics.
  • 62% will spend money on next-generation 5G wi-fi applied sciences.
  • 58% stated their corporations plan to spend money on generative AI options.
  • 52% stated they plan to prioritize metaverse applied sciences.

The research additionally discovered that whereas 78% of tech executives are extra involved in regards to the cybersecurity threats of at this time in comparison with the cybersecurity threats of 1 yr in the past, “Our pulse ballot reveals a optimistic outlook — with no indicators of a lag in innovation for know-how corporations,” stated Englund. “The momentum and pleasure round rising applied sciences like generative AI marks a tectonic business shift, one targeted on effectiveness and effectivity.”

The April 2023 ballot of 250 U.S. tech leaders was carried out by Atomik Analysis and commissioned by EY US.

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