Gartner’s VP analyst, Bart Willemsen says technology disruptions and socioeconomic uncertainties require a willingness to act boldly and strategically enhance resilience over ad hoc responses. He posits that “IT leaders are in a unique position to strategically lay down a roadmap where technology investments help their business's sustenance of success amidst these uncertainties and pressures.”
Interestingly, five of Gartner’s top 10 strategic predictions for 2024 have an AI influence on them.
Forrester cautions that AI is not the only dynamic that will define 2024. It predicts that the AI hype of 2023 will give way to a year of practical exploration.
Sumir Bhatia, president of the Infrastructure Solutions Group at Lenovo Asia Pacific, believes that AI is a game changer that boosts productivity, fosters innovation, improves competitiveness, and drives sustainable growth.
He pointed out that in retail the convergence of IoT and AI at the edge, where approximately 80% of data is processed for AI, is reshaping customer and employee experiences. “Computer vision and edge solutions enable autonomous shopping, interactive media, store analytics, remote monitoring, inventory management, and energy optimisation,” he added.
In manufacturing, he posits that AI addresses critical challenges such as production stoppages. “By optimising production, predicting maintenance needs, and enhancing quality control, AI minimises unplanned downtime,” he continued.
AI readiness
Asked whether he believes organisations in Asia are currently prepared for AI, Bhatia notes that from a technological standpoint, AI is today equipped to assist organisations in their decision-making processes.
He pointed out that while some organisations start with AI ops to enhance operations, others pioneer applications like those in manufacturing or trawlers. These pioneers, he added, set examples for others, showcasing what's achievable.
“Collaborative solutions, like the trawler example, are versatile and applicable across different verticals, providing a blueprint for innovation,” he went on.
“As we approach 2024, and integration of AI into the technology roadmap becomes imperative, my recommendation for CIOs is to ensure a seamless transition without disrupting business as usual. This involves meticulous planning, leveraging strong partnerships, and embracing responsible AI practices.”
Sumir Bhatia
Recommendations for integrating AI into daily operations
Maurice Bretzfield, founder of digiquation.io, predicts that in 2024, integrating AI into everyday business operations will become a game-changer across industries. He opines that success in this AI-driven era requires businesses to embrace their potential while responsibly addressing the associated challenges.
The starting point, according to Bhatia, is to have clearly defined objectives. He explains that often there is a disconnect between what the CEO envisions, what the board desires, and what the CIO can implement. He believes that identifying what can be achieved with existing resources and investments is crucial.
“Once objectives are identified, execute a realistic approach. Start small, perhaps with AI ops, pinpointing specific pain points and data sets for desired outcomes,” he added. “Select the appropriate solution and enlist a partner capable of providing an end-to-end solution for gradual scaling. Recognise that AI is a journey, not a switch to be turned on and off."
He suggests CIOs connect with experts, and leverage partnerships as part of the process.
Evolving AI and what it means for growth
Bhatia predicts that in 2024, more companies will identify specific pain points and actively seek tailored solutions. “Cloud providers and high-performance compute organisations heavily invested in GPUs in 2023, and I foresee enterprises across finance, manufacturing, and retail following suit,” he added.
In retail, he believes the focus is on loss prevention and customer engagement through chatbots and deep-brain AI.
“The adoption of private AI models is gaining traction, emphasising improving employee efficiency. Despite initial concerns about job displacement, this is the beginning of a reskilling era. Embracing the reality of the evolving AI landscape and investing in reskilling initiatives will position organisations to thrive in this new era of AI innovation,” he concluded.
Click on the PodChat player to hear Bhatia elaborate on how AI can be used to power growth objectives in 2024.
- How can AI be utilised to enhance productivity and efficiency in various industries to support economic growth in 2024?
- In what ways can AI be leveraged to identify and capitalise on new business opportunities and market trends to create new business models?
- What are the potential risks and challenges associated with integrating AI into business growth strategies, and how can these be mitigated?
- In what ways can AI be harnessed to streamline decision-making processes and drive strategic growth initiatives for businesses?
- How can AI be utilised to drive innovation and R&D efforts, leading to the development of new products and services for sustained growth?
- Coming into 2024, as the CEO and the rest of the C-suite call for integration of IT into the current technology roadmap, any recommendations for the CIO and his or her IT team to consider as they look to bring in AI without disrupting business as usual?
