The latest report from IoT Analytics, titled “What CEOs Talked About,” reveals a dynamic shift in boardroom discussions during Q3 2024, with four prominent themes emerging: practical AI applications, renewable energy sources, unpredictable IT outages, and election-related topics. This quarter witnessed a slight decline in general discussions about AI; however, there has been a marked increase in focus on specific applications of the technology.
Emphasis on practical AI applications
While overall mentions of AI slightly decreased in Q3 2024, the conversation has shifted towards more practical applications. AI-driven initiatives like process automation, predictive maintenance, and digital twins are gaining traction as companies aim to improve operational efficiency and lower costs. The report shows:
- Process automation mentions surged 59% quarter-over-quarter (QoQ), representing 0.6% of earnings calls.
- Digital twins saw a 35% increase QoQ, also featuring in 0.6% of earnings calls.
- Conversational AI rose by 28.6%, appearing in 0.4% of earnings calls.
- Predictive maintenance jumped 48%, while building automation climbed 29.5%.
This increased focus on specific AI use cases suggests that businesses are prioritizing tangible benefits from AI technologies rather than just exploring theoretical possibilities.
Renewable energy takes center stage
Renewable energy discussions have surged in Q3 2024, albeit with regional variations. Mentions of solar power skyrocketed by 78.6% QoQ, making up about 1% of earnings calls, while wind power discussions increased by 58.3% QoQ to 0.5%. This growth in renewable energy discourse correlates with a 38% rise in energy prices, now comprising 1.6% of earnings calls, highlighting the economic impetus behind this shift.
While discussions on renewables surged, broader climate and sustainability topics saw relatively stable engagement:
- Sustainability: Up 8.5% QoQ to 19.3% of calls.
- Emissions: Slight decline of 0.7% QoQ to 11.1%.
- Climate: Increased by 8.3% QoQ, maintaining at 8.3%.
- ESG (Environmental, Social, and Governance): Slightly down by 0.2% QoQ to 6.5%.
IT outages spark urgent discussions
The recent IT outage affecting Microsoft Windows in July, attributed to a faulty update from CrowdStrike, has prompted corporate executives to prioritize discussions on IT resilience. Mentions of IT-related outages rose significantly, up 65.7% QoQ to 6.5% of earnings calls, as companies seek strategies to prevent similar disruptions.
Heightened election discussions
With the U.S. presidential election approaching on November 5, discussions surrounding electoral politics have intensified. Policy implications are a significant focus for CEOs this election season. Although specific candidate mentions remain low, discussions about policy overall rose by 21% QoQ to 22% of earnings calls, with tariff-related discussions increasing by 56.7% QoQ to 7%.
Declining mentions of Generative AI and GPUs
While the focus on practical AI applications is growing, discussions around Generative AI (GenAI) have decreased by 16% QoQ to 6.6% of earnings calls, marking the second consecutive quarter of decline. Interestingly, for the first time since its rise, ChatGPT experienced a slight increase in mentions, albeit only reaching 1% of calls, still trailing behind GenAI.
In the semiconductor sector, mentions of NVIDIA, a key player in GPU production, fell by 19.5% QoQ to 2.6%. Overall mentions of GPUs also dropped 3.2% QoQ to 3.5%, despite recognition of NVIDIA’s critical role in AI strategies and high-performance computing.
The Q3 2024 report highlights a decrease in mentions for major cloud service providers, with AWS and Azure seeing drops of 12.3% and 11.3% QoQ, respectively.
As CEOs look toward the final quarter of 2024, these discussions are set to shape strategic decisions in the months ahead.
Source: Iot Analytics
