{"id":113658,"date":"2024-08-14T13:00:00","date_gmt":"2024-08-14T12:00:00","guid":{"rendered":"https:\/\/www.intelligentcio.com\/eu\/?p=113658"},"modified":"2024-08-12T15:07:04","modified_gmt":"2024-08-12T14:07:04","slug":"big-ai-bets-made-globally-with-one-in-10-businesses-spending-over-us25m-on-ai-initiatives","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/eu\/2024\/08\/14\/big-ai-bets-made-globally-with-one-in-10-businesses-spending-over-us25m-on-ai-initiatives\/","title":{"rendered":"Big AI bets made globally with one-in-10 businesses spending over US$25m on AI initiatives"},"content":{"rendered":"\n<p><em>Global survey by Searce reveals overwhelming optimism when it comes to AI, but the biggest concern in AI adoption for US and UK IT professionals is data security and a lack of qualified talent<\/em>\u00a0<\/p>\n\n\n\n<p>Searce, a modern technology consulting firm that empowers businesses to be future-ready, has released its <em>2024 State of AI<\/em> report. It found organisations across the UK and the US are making significant investments into AI this year with nearly one-in-10 decision-makers in both the UK (8%) and US (7%) planning to spend over US$25 million.&nbsp;<\/p>\n\n\n\n<p>Searce surveyed 300 C-Suite and senior technology executives \u2013 including Chief AI Officers, Chief Data &amp; Analytics Officers, Chief Transformation Officers, and Chief Digital Officers \u2013 at organisations with at least US$500 million in revenue.<\/p>\n\n\n\n<p>The research examines some of the biggest trends, successes and challenges facing businesses in their AI decision-making, strategy and execution.\u202f&nbsp;<\/p>\n\n\n\n<p>While the research shows significant investment into AI, there are still concerns around some challenges to AI adoption which differ across the UK and the US. For US decision-makers, data privacy and security were ranked as the number one hurdle (20%), whereas UK decision-makers ranked lack of qualified talent as their number one challenge (19%).&nbsp;<\/p>\n\n\n\n<p>\u201cAs global investments in AI continue to rise, as our research has found, it is crucial for businesses to focus not just on spending, but on the tangible returns these investments can deliver. Strategic AI adoption can transform operations and drive significant growth,&#8221;&nbsp;Julian Mulhare, Managing Director, EMEA at Searce.<\/p>\n\n\n\n<p>\u201cFrom speaking with our European clients, we also know how much pressure businesses face to keep up with the latest technological demands,\u201d added Mulhare. \u201cA lot of the findings in our research reflect some of those conversations including the challenges to AI adoption. Lack of qualified talent has been something we\u2019ve been talking about since our inception in 2004 and is why many businesses come to us to help plug that internal skills gap \u2013 key for empowering teams by making work better, and people happier.\u201d&nbsp;<\/p>\n\n\n\n<p><strong>Additional findings:<\/strong>&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>One-third of businesses in the UK (31%) and the US (35%) are investing in AI to drive new business growth<\/li>\n\n\n\n<li>The majority (96%) of UK participants view AI adoption as a key business priority with most (92%) rating the success rate of their AI initiatives as \u2018successful\u2019 and 31% planning to increase AI spend by 26-50%<\/li>\n\n\n\n<li>When it comes to the build vs buy debate, over half (51%) of UK respondents said they had purchased solutions and partnered with external service providers when it came to fulfilling their AI needs rather than building the solution or servicing it in-house. This was similar in the US, with 57% saying the same<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global survey by Searce reveals overwhelming optimism when it comes to AI, but the biggest concern in AI adoption for US and UK IT professionals is data security and a lack of qualified talent\u00a0 Searce, a modern technology consulting firm that empowers businesses to be future-ready, has released its 2024 State of AI report. It [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":113659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14589,18793,15836,6617,93],"tags":[158,69,6852,21031],"class_list":["post-113658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data","category-europe","category-north-america","category-research","category-top-stories","tag-ai","tag-data","tag-research","tag-searce"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/113658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/comments?post=113658"}],"version-history":[{"count":1,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/113658\/revisions"}],"predecessor-version":[{"id":113697,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/posts\/113658\/revisions\/113697"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/media\/113659"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/media?parent=113658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/categories?post=113658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/eu\/wp-json\/wp\/v2\/tags?post=113658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}