• Fri. Apr 19th, 2024

Spending in EMEA set to increase by two-thirds in 2024

BySamantha Johnson

Mar 24, 2024
Spending in EMEA set to increase by two-thirds in 2024

Businesses in the EMEA region are expected to increase their spending on AI by 61% in 2024, with 97% of organizations either currently investing in generative AI or planning to do so. This information comes from a research report released by Lenovo, titled ‘CIO PlayBook 2024: It’s all About Smarter AI’. The report highlights that for 40% of respondents, AI is considered a “game changer” and while generative AI has been a driving force in the industry, all forms of AI are seeing benefits. Investments are evenly split between generative AI, interpretative AI, and machine learning.

Most European businesses are integrating generative AI projects into their strategies, processes, and offerings, with a significant number already investing in AI and more planning to do so in the coming year. EMEA enterprises are looking to implement AI strategies in hybrid or private cloud, with only a small percentage opting for public cloud due to data privacy regulations. Interest in AI varies across industries, with manufacturing companies being the most enthusiastic and telcos being the least enthusiastic.

Italy stands out in the region for its high rate of planned investments in generative AI, as well as its ease in hiring staff with AI skills. The country is also leading in investments in edge technologies and HPC platforms. The main technological challenges of generative AI include model capacity limitations, concerns about misuse, and finding reliable data platforms. Organizational challenges include cultural issues and IT resistance to implementing AI tools.

As Giovanni Di Filippo, EMEA President of Lenovo Infrastructure Solutions Group, notes, organizations across all sectors are embracing the potential of AI and will need to make strategic technology investments and partnerships to maximize its value.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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