Microsoft the go-to vendor for CIOs considering a GenAI partner - Citi
According to analysts at Citigroup on Monday, Microsoft (NASDAQ:MSFT) is still the top vendor that CIOs are considering as a generative artificial intelligence (AI) partner, «far ahead» of Alphabet (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN).
The bank made the statement in a note following its latest CIO survey, where it noted IT budget outlooks have improved, led by the US.
«Data Analytics/Gen AI considered the second highest priority for CIOs in the December survey, which we see as a positive for MSFT, ESTC, SNOW, MDB, AYX and TDC,» said Citi.
Meanwhile, another positive for Microsoft is that digital transformation projects also remained a top three priority, albeit slightly diminishing in importance vs. September.
«In terms of the breakdown of funding for GenAI projects, 64% of CIOs expect to get new/additional funding while 36% believe it will come from existing resources, with some CIOs expecting to spend less on vendors such as ORCL, IBM or SAP to make room for GenAI investments,» the bank added.
