IT Spend Mounts As CIOs Build Out Enterprise AI Capacity
CIODIVE, Wednesday, October 23rd, 2024
The analyst firm expects tech spending to reach $5.74 trillion next year, driven in part by exponential growth in server sales.
Even as enterprise enthusiasm for generative AI spiked over the last year, CIOs exercised caution. Unresolved safety concerns, data security issues and regulatory uncertainty coupled with budgetary constraints put the brakes on rapid adoption.
'We were at the peak of inflated expectations and we've been coming out on the other side in 2024, with lots of CIOs doing proof-of-concept work and, universally, not faring all that well,' Lovelock told CIO Dive. 'Failure rates were much higher than we'd like to see.'