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Most companies planning to increase their investment towards AI: Report, ET CIO

Most companies around the globe are planning to raise their investment towards technology, more so towards Artificial Intelligence (AI), according to a report released on Friday. According to the report titled ‘BCG AI Radar: From Potential to Profit with GenAI’, 71 per cent of executives surveyed said they plan to increase tech investments in 2024 — an 11-point jump from 2023 — while an even more (85 per cent) plan to increase their spending on AI and GenAI.

Fifty-four per cent of leaders already expect AI to provide cost savings this year, primarily through productivity gains in operations, customer service, and IT, the report, based on a survey of 1,406 C-level executives in 50 markets and 14 industries, said.

Generative AI (GenAI) exploded into public consciousness in 2023, promising to transform the way business functions….

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