98% of executives expect to see a significant
rise in spending on AI for cloud over the next two years
CAMBRIDGE, Mass. and BENGALURU, India, July 31,
2024 /PRNewswire/ -- Infosys (NSE: INFY) (BSE:
INFY) (NYSE: INFY), a global leader in next-generation digital
services and consulting, in collaboration with MIT Technology
Review Insights, today announced the release of a new report:
Reimagining Cloud Strategy for AI-first Enterprises. The
report analyzed 500 global industry leaders with at least
$500M in revenue across sectors to
understand their organization's cloud and data readiness as they
prepare to launch AI initiatives at scale.
The survey found that most companies are still experimenting and
preparing their infrastructure landscape for AI from a cloud
perspective—and many are planning additional investments to
accelerate their infrastructure progress.
As the cloud has evolved beyond its initial purpose as a storage
tool and cost saver, realizing AI's full potential and becoming a
truly 'AI-first enterprise' will require a significant, sustained
investment in cloud infrastructure and strategy. The report's key
findings include:
- Around two-thirds (67%) of respondents have a 'developed' or
'advanced' cloud infrastructure. Only one-third (33%) classify
their cloud infrastructure as'growing' or 'nascent.'
- Less than 10% of executives have fully integrated AI into
their operations. While nearly half (48%) of executives
say their firms are experimenting with AI, only 8% say they've
comprehensively integrated AI into their business.
- Companies have varied strategies for optimizing their cloud
systems to support AI initiatives. Half of the executives
report they're using cloud services only to integrate data for AI
purposes. Another 30% are using cloud infrastructure for computing
capacity, and just 13% report having a 'detailed roadmap' on how
cloud investments will advance AI adoption beyond data and computer
power/scale.
- Complexity, security, safety, and data challenges are all
hurdles to cloud-ready AI systems. When asked about the factors
limiting their organization's cloud readiness for AI, 45% of
respondents cite 'concerns about data security and ethical use of
data, privacy, and overall safety.'
- Spending on cloud systems is expected to climb. A
significant percentage (71%) of executives expect spending on cloud
infrastructure for AI will increase by at least 25% in the next two
years. More than one-quarter (27%) predict it will increase by
50-100%.
"Today, we are in the early stages of reimagining enterprise
with AI and as we move towards a human plus AI collaborative state,
cloud & data will be the catalyst in scaling AI," said
Mohammed Rafee Tarafdar, Chief
Technology Officer, Infosys. "However, just 13% of the
executives have a 'detailed roadmap' on how cloud investments will
advance AI adoption beyond data and computational power. By
leveraging the cloud and adopting responsible AI practices,
businesses can navigate this transformation and achieve sustainable
growth."
"Although 67% of executives have advanced cloud infrastructures,
only a small percentage have fully integrated AI into their
operations," said Laurel Ruma,
Global Editorial Director, MIT Technology Review Insights.
"Despite concerns about data security and privacy, a majority are
planning significant investments in cloud technology for AI in the
coming years. It is clear that cloud-enabled AI is the future, and
companies are eager to invest."
"Along with the ever-increasing relevance of cloud, we are also
seeing that the focus and resources of several companies are
towards implementing fully integrated AI systems. They expect to
see significant growth in spending on this over the next several
years," said Anant Adya,
Executive Vice President and Service Offering Head, Infosys.
"With 71% of executives expecting spending on cloud infrastructure
for AI to increase by at least 25% in the next two years, it is
clear that an integrated cloud and AI strategy will be the
foundation for AI transformation for organizations moving
forward."
About MIT Technology Review Insights
MIT Technology Review Insights is the custom publishing division
of MIT Technology Review, the world's longest-running
technology magazine, backed by the world's foremost technology
institution—producing live events and research on the leading
technology and business challenges of the day. Insights conducts
qualitative and quantitative research and analysis in the U.S. and
abroad and publishes a wide variety of content, including articles,
reports, infographics, videos, and podcasts. And through its
growing MIT Technology Review Global Insights Panel, Insights has
unparalleled access to senior-level executives, innovators, and
entrepreneurs worldwide for surveys and in-depth interviews.
About Infosys
Infosys is a global leader in next-generation digital services
and consulting. Over 300,000 of our people work to amplify human
potential and create the next opportunity for people, businesses
and communities. We enable clients in more than 56 countries to
navigate their digital transformation. With over four decades of
experience in managing the systems and workings of global
enterprises, we expertly steer clients, as they navigate their
digital transformation powered by cloud and AI. We enable them with
an AI-first core, empower the business with agile digital at scale
and drive continuous improvement with always-on learning through
the transfer of digital skills, expertise, and ideas from our
innovation ecosystem. We are deeply committed to being a
well-governed, environmentally sustainable organization where
diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY)
can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth
prospects, or our future financial or operating performance, are
forward-looking statements intended to qualify for the 'safe
harbor' under the Private Securities Litigation Reform Act of 1995,
which involve a number of risks and uncertainties that could cause
actual results or outcomes to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding the execution of our business strategy,
increased competition for talent, our ability to attract and retain
personnel, increase in wages, investments to reskill our employees,
our ability to effectively implement a hybrid work model, economic
uncertainties and geo-political situations, technological
disruptions and innovations such as Generative AI, the complex and
evolving regulatory landscape including immigration regulation
changes, our ESG vision, our capital allocation policy and
expectations concerning our market position, future operations,
margins, profitability, liquidity, capital resources, our corporate
actions including acquisitions, and cybersecurity matters.
Important factors that may cause actual results or outcomes to
differ from those implied by the forward-looking statements are
discussed in more detail in our US Securities and Exchange
Commission filings including our Annual Report on Form 20-F for the
fiscal year ended March 31, 2024.
These filings are available at www.sec.gov. Infosys may, from time
to time, make additional written and oral forward-looking
statements, including statements contained in the Company's filings
with the Securities and Exchange Commission and our reports to
shareholders. The Company does not undertake to update any
forward-looking statements that may be made from time to time by or
on behalf of the Company unless it is required by law.
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