ani |
update: March 2, 2025 10:37 IST
New Delhi (India), March 2 (ANI): Expenditure on artificial intelligence (AI) technology will increase by 2.2 times as a percentage of overall digital technology spending over the next three years, creating more than US$115 billion by the end of 2027, according to a latest report from International Data Corporation (IDC).
IDC further predicts that by 2027, company executives will expect the Genai project to have a success rate of at least 70% to increase operational effectiveness and generate new revenue.
“Planned investments in all kinds of AI are rising at a level much faster than investments across digital technology. The strategy of major digital business organizations is heavily focused on AI, so AI transformation and digital business are locked into the hip.
According to the forecasts for the World Digital Business and AI Transformation 2025, when digital transformation is at the heart of business strategy, 40% of IT leaders will rise as business leaders by 2027, adjusting digital technology to fit people, operations and business models to digital technology.
By the same time period, the IDC report says that organizations with integrated digital business architectures will increase the value generated from data three times, reducing it by 20% to the results.
By 2027, around 55% of India-based organizations will experience a lack of digital skills that will cause delays in the project, delaying the implementation of AI technology until the following year.
The report adds that by 2025, 80% of businesses will fail to treat data as data, introducing discipline to unlock the value of data for all stakeholders, further delaying AI-fuel business models.
Furthermore, the report adds that by 2028, 75% of companies establishing AI platform strategies built on the foundations that connect processes to broader business functions will achieve value enhancement from investment. (ani)
