Mumbai: Artificial intelligence (AI) has rapidly transitioned from a science-fiction concept to technology, with more than half of businesses planning to adopt AI within the next two years revealed in the latest survey findings. Organisations adopt AI because of its potential to drive efficiency and enhance decision-making processes.
More than half of businesses (57%) have concrete plans to implement AI solutions in the future. Notably, a quarter of these businesses are already integrating AI into their operations, while 32% are preparing to do so within the next two years, according to the 2024 State of IT survey by Spiceworks.
“The adoption of AI technology across industries is both exciting and concerning from a cybersecurity perspective. While AI can revolutionise business operations and drive efficiency, it also introduces new attack vectors and risks that organisations must be prepared to address,” said Carlos Salas, a cybersecurity expert at NordLayer.
Investment in cybersecurity
The 2024 State of IT survey also asked businesses about their IT budget. Two-thirds (66%) of organisations said that their total IT budget will be increasing in 2024 compared to last year. Interestingly, 4% decided to lower their IT budgets since the previous year and 30% of businesses plan no change.
For more than half (52%) of organisations, leading reasons for IT budget increase are a need to upgrade outdated IT infrastructure and increased priority on IT projects. Another major factor for 48% of businesses is increased security concerns.
NordLayer’s research from 2023 also looked into how businesses spend their IT and cybersecurity budgets. Purchase of cybersecurity solutions/services/apps (61%) as well as cybersecurity training for employees (56%) were the most popular IT investments among businesses last year.
The research showed that a third of companies (35%) prepared to allocate up to a quarter of their organisational budget for IT needs last year. Another 32% of respondents planned to invest up to half of their budget. Only 3% of businesses said they didn’t plan to invest in cybersecurity in 2023, out of which the majority are small companies.
“The fact that two-thirds of organizations are boosting their IT budgets for 2024 is an encouraging sign that businesses recognize the role technology plays in driving innovation and competitiveness. As AI adoption accelerates, allocating adequate resources for cybersecurity will be crucial to safeguarding these cutting-edge technologies and the sensitive data they process,” said Salas.
More than half of businesses plan to adopt AI in next 2 years: study
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