In the EMEA region, businesses 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. According to a research report released by Lenovo titled ‘CIO PlayBook 2024: It’s all About Smarter AI’, this information comes from a survey of over 500 companies across the region.
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 in generative AI, interpretative AI, and machine learning are evenly split among the companies surveyed.
In terms of deployment, most European businesses are integrating generative AI projects into their strategies, processes, and offerings. A significant number have already invested in AI and more are planning to do so in the coming year. EMEA enterprises are looking to implement AI strategies in hybrid or private cloud environments, 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. Despite these differences, however, all sectors are recognizing the potential value of AI and making strategic investments to harness its capabilities.
One country that stands out in the region for its high rate of planned investments in generative AI is Italy. In addition to having a strong focus on hiring staff with skills in this area, Italy is also leading the way in investments in edge technologies and HPC platforms. This reflects a growing recognition across Europe that technology innovation is key to staying competitive on a global scale.
Despite these exciting developments, there are still several challenges that need to be addressed if we want to fully realize the potential of generative AI