A recent global study by Cisco reveals that although most executive directors (CEOs) recognize the benefits of artificial intelligence (AI) and almost all (97%) plan to integrate it into their operations, only 1.7% feel completely prepared to do it. In addition, 70% of CEOs fear that knowledge gaps can hinder decisions in the Board of Directors and stop growth, which could leave them behind in the face of the competition.
More than half of the CEOs (53%) fear that the lack of investment in technology will lose competitive advantage, while two thirds are concerned about opportunity costs. If they do not invest in technology now, the CEOs anticipate greater operational costs, lower profits, lower productivity and a decrease in market share.
The CEOs resort to AI due to their transformative potential: it drives efficiency (69%), stimulates innovation (68%) and exceeds competitors (54%). However, to achieve these objectives, it is necessary to overcome barriers such as the shortage of skills, infrastructure gaps and safety risks. While the CEOs focus on the general strategy, the cios and ctos of their organizations must deal with operational obstacles, such as the lack of convincing business practical cases.
The CEOs adopt the AI, but the ‘gaps’ of knowledge affect strategic decisions and growth
“In a dynamic panorama in which the competition is fierce, the speed decides who are winners. The leaders who act today to build resilient networks and prepared for the future will be the ones who take advantage of AI to generate real value for their businesses. In the end, there will only be two types of companies: those that are AI companies and those that are irrelevant ”highlights Jeetu Patel, Director of Products in Cisco.
The CEOs Action Plan: People, Infrastructure and Cybersecurity
The study also reveals the CEO plan to adopt the AI successfully: improve education (61%), expand data capacity (55%), update network infrastructure (53%), reinforce template skills (51%) and optimize security (49%).
To comply with this plan, decisive technological leadership will be necessary, both within the organization and through alliances with trust suppliers. The CEOs are increasingly resorting to their technology directors, and almost 80% recognize their essential role in the orientation of business and investment decisions.
More and more, technological leaders are also business leaders who see modern networks and technology not only as tools, but as facilitators of growth, resilience and innovation. The CEOs also know that they cannot fulfill their plan without the support of experts: 96% rely on trusted technological partners to prepare their network infrastructure for AI.
