94% of tech leaders are investing in AI, 5G and more

Generative AI is especially important to managers because of the benefits of cost savings, efficiency and effectiveness.

Despite economic threats, 94% of technology leaders are committed to investing in new tools and technologies, including artificial intelligence. survey by EY.

A new poll suggests tech leaders are looking at this investment strategy, particularly in cybersecurity, as a way to combat geopolitical uncertainty and an economic downturn. 94 percent of survey participants said that innovation helps their companies emerge stronger from the current economic situation.

In addition, 78% of respondents said telecommuting had a positive impact on their company’s innovation goals, and 81% said they plan to make an innovation-related acquisition in the next six months.

SEE: IBM launches watsonx, making AI adoption easier (TechRepublic)

Ken Englund, head of technology, media and telecommunications at EY Americas, said in a press release about the EY survey that the results suggest resilience in the face of increasing uncertainty. “As our latest technology pulse research shows, leaders are looking for the right balance between protecting their operations and driving continuous innovation and growth.”

Cyber ​​security, 5G, AI, big data and metaversal investments are in focus

90 percent of technology leaders surveyed said their companies are working on generative AI functionality similar to ChatGPT, and 80 percent of respondents said they will increase investment in various forms of AI in the next year, despite such technological luminaries called them this year. like Elon Musk and Yoshua Bengio, the inventors of artificial neural networks, a moratorium on the development and installation of such systems.

SEE: Gartner Finds ChatGPT Interest Boosting Generative AI Investments (TechRepublic)

More than half of enterprise technology leaders experimenting with generative AI said they are doing so for economic savings.

Among the technology managers of companies planning to increase technological investments:

• 74% want to prioritize cyber security.
• 62% will focus on big data or analytics.
• 62% are investing in next-generation 5G wireless technologies.
• 58% of respondents said their companies plan to invest in generative AI solutions.
• 52% said they wanted to favor metaverse technologies.

The study also found that while 78% of technology leaders are more concerned about cybersecurity threats today than they were a year ago, “our pulse survey reveals a positive outlook – with no signs of tech companies lagging behind in innovation. Englund said. “The momentum and excitement around emerging technologies such as generative artificial intelligence signal a tectonic industry shift focused on efficiency and effectiveness.”

The April 2023 poll was conducted by Atomik Research on behalf of EY US with the participation of 250 American technology leaders.