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About this session
As the AI hype fades, leaders are now grappling with the reality of implementing and scaling AI effectively within their organizations. The race is on to prove the ROI of AI, with global spending on AI software projected to reach USD 297 billion by 2027. This surge is driven largely by the rise in generative AI software, expected to account for 35% of AI spending by 2027, up from just 8% in 2023 (Gartner).
However, AI use remains siloed, benefiting only select functions rather than the entire organization. Key hurdles include poor data quality, unclear AI governance, regulatory compliance pressure, rising shadow AI, and the growing threat of AI-powered cyberattacks. Additionally, there’s an increasing focus on ethical AI and the implications of automation on the workforce.
Discover the latest AI investments, focus areas, and challenges in our trend report, AI Investments in Europe: The Path to Profitability. The data in this report is partially compiled from surveys and interviews with European decision-makers in IT and digital functions from global TOP500 companies. Furthermore, we glean valuable insights from our interviews with various experts and industry leaders in the AI field. With the future of AI still uncertain, we hope this report provides you with the guidance and reassurance needed.
KEY TAKEAWAYS:
- The Steady Adoption of Automation: Investments in AI and automation move from ideation to implementation, with 44% of piloting projects compared to 15.4% in R&D.
- Generative AI (GenAI) Interest at an All-Time High: GenAI is expected to bring the most value in the next 3 to 5 years, as voted among 73% of IT and digital leaders.
- What’s Valuable Today - Machine Learning and RPA: Investments in both technologies are essential to power task automation and productivity.
- Comply or Die – AI Regulations are Here: The EU AI Act is now formally enacted into law. What are the consequences of non-compliance?
- Watch Out for AI-Powered Cybercrime: The increasing rate of shadow AI and AI fraud is putting cybersecurity and risk systems to the test.
- Emerging AI Trends: Experts and leaders in the AI space chime in with their predictions, from synthetic data to ethical AI.
