Despite slow economic growth, a recent pulse survey by the Nash Squared digital leadership report revealed that few tech leaders are planning to reduce their IT budgets in the next year. The survey, which included 322 digital leaders, indicated that 43% expect an increase in their IT budget, 45% anticipate no change, and 12% predict a decrease. The report also highlighted a trend of focusing on technology investments to improve operational efficiencies, with a particular interest in artificial intelligence (AI) for tasks such as code development and customer support.
Specifically, the survey found that many organizations are deploying generative AI (GenAI) to some extent among their employees, with larger companies with high data volumes leading the way in enterprise-wide implementations. Despite the growing adoption of AI, concerns remain about unproven business cases and the quality of corporate data.
CEO Bev White noted the potential of AI in driving positive change, citing examples of advancements in cancer screening and fundraising revenue within the tech industry. While there are concerns about AI potentially replacing human jobs, White emphasized that the integration of AI into operations will be gradual rather than sudden, leading to a more evolutionary impact within organizations. Additionally, the survey indicated that organizations with widespread GenAI implementations are more likely to increase their tech headcount in the coming year.
