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Despite concerns about tool overload, 94% of CIOs plan to invest in AI in 2024: Canva report

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In this evolving digital world, it is not just important to boost efficiency and productivity but also to keep up with advanced technologies like Artificial Intelligence (AI). The surge in AI-driven advancements has propelled Chief Information Officers (CIOs) to explore a myriad of new applications and platforms. However, the pursuit of diverse tools for varied functions has proven not only costly but increasingly complex to manage.

A recent report from Canva shows that a whopping 94% of CIOs plan to invest more in AI this year. Surprisingly, despite this growing interest, 72% are worried about too many apps making things more complicated and riskier. The report delves into what these IT leaders are prioritizing in 2024 and how they’re preparing for an AI-focused future. Read on for key insights.

An overwhelming 90% of CIOs agree that AI tools can significantly improve both their role and their employees’ experience. The key benefits of this technology that CIOs cite range from saving time on creative or strategic tasks (52%) to consolidating apps (50%) and gaining deeper insights for business decisions (50%).

However, finding the right solution in a crowded market is proving to be a challenge, with 84% expressing concerns about the overwhelming number of AI tools causing confusion and redundancy among employees. 30% expressed their concerns regarding the complexity these tools bring. Despite the desire to go for fewer tools, 71% expect to adopt 30-60 new apps in 2024.

The increase in apps means more work for IT teams, with 64% stating they already don’t have enough staff to train employees on new apps, including safe and proper use. Additionally, 44% mention that their teams spend more than half of their time educating employees about new technologies which diverts time from more critical digital transformation goals.

To make workflows smoother, improve efficiency, and reduce security risks, 51% are planning on consolidating tools to some extent, with 24% planning significant consolidation.

As AI continues to attract business leaders, CIOs must drive change by adopting solutions that promise more impact with less complexity and cost. However, along with the benefits come risks, such as adhering to IT procedures, secure deployment, integration challenges, and potential bias in AI-generated content. Despite these challenges, most CIOs are ready to embrace AI, with 70% having strict rules in place to ensure safe and responsible AI use in the workplace.

In conclusion, the modern CIO faces a delicate balance between harnessing the transformative potential of AI and grappling with the challenges posed by the proliferation of diverse applications. As these leaders navigate the evolving landscape, their commitment to leveraging AI for impactful and cost-effective solutions is evident, underscored by a readiness to address associated risks and ensure responsible implementation in the workplace.


Read next: 30% of enterprises will doubt identity verification and authentication solutions in isolation due to AI-generated deepfakes – Gartner

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