Tech Industry Outlook Brighter Than 12 Months Ago, with GenAI Emerging as Top Opportunity for 2024
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By InfoPublik.id and thestar.com.my
Press Release | January 17, 2024
Quoted from EY insight, GenAI integration is the No. 1 opportunity for tech businesses in the year ahead and AI deals and partnerships in 2024 could shape the future industry landscape, also for the urgency to act now on AI; 90% of organizations at earliest stages of maturity.
The technology sector faced challenges in 2023 due to macroeconomic weaknesses and cost-savings. Generative AI strategies have regained confidence, with GenAI in the Top 10 opportunities for technology companies in 2024. However, 90% of organizations are still at a nascent stage of AI maturity, urging companies to establish an AI control tower for safe and ethical deployments.
The report suggests that companies should focus on high-impact, high-value use cases and transformation opportunities, such as using GenAI in software coding and deploying AI to attract and retain talent in the back-office, rather than leveraging GenAI for all use cases. According to the report, industry leaders are acutely aware of AI’s potential to help run their businesses more efficiently, with 65% of tech CEOs stating that their organization must act now on GenAI to avoid giving competitors a strategic advantage.