AI, machine learning key for businesses' short-term goals: KPMG report
Artificial Intelligence (AI), including generative AI, and machine learning will be the most important technologies for businesses to fulfill their short-term ambitions, according to a report by KPMG.
More than half (57%) of the 2,100 technology executives surveyed for the Global Tech Report 2023 said these emerging technologies would help achieve their business objectives over the next three years.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitIndian School of BusinessISB Professional Certificate in Digital MarketingVisitIndian School of BusinessISB Digital TransformationVisitNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisitAmong leading businesses that have prioritised investment in technology to drive profitability, AI and machine learning are even bigger priorities, with over two-thirds (68%) finding them vital to their short-term plans.
Nearly 42% of respondents are betting on edge computing, including Internet of Things (IoT), to further growth. A good number of those surveyed also highlighted the significance of other technologies such as robotics (41%), virtual or augmented reality, including the metaverse, (37%) and web3 (32%).
The report also states that top leadership's willingness to embrace emerging tech has more than tripled from 10% to 38% in the last year. Digital innovation projects are primarily focused on uplifting performance around cybersecurity and customer engagement, it added.
An average of 63% of respondents reported enhanced performance on the back of digital transformation efforts over the past 24 months. Other benefits of adopting tech solutions included increased employee
