AI is dominating many businesses' priorities for 2024

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According to a new report co-published by Rackspace and VMware, the AI revolution is only now “getting started,” with the technology set to top most businesses’ priorities in the year ahead.

Two-thirds (67%) of the more than 1,400 IT leaders have confirmed plans to integrate generative AI into some or all processes by the end of 2024.

On the other end of the spectrum, the surge in uptake will see only 1% with no plans at all to use GenAI.

2024 is the year to invest in AI

More than three in five leaders plan to recalibrate their investments next year (63%), with a similar number saying that AI will have the most significant positive impact on their organization (65%).

Companies are also reportedly preparing their IT infrastructure for modernization, with edge computing, private cloud, and public cloud all set to increase. By comparison, data center, colocation facilities, and mainframe investments are likely to decline.

To date, many organizations have already started to explore generative AI for analysis and code development, but plenty of IT leaders see the benefit of GenAI in security (54%), new product development (50%), productivity (45%) and efficiency (42%). With this outlook, it’s easy to see how artificial intelligence will be injected into various operational aspects of businesses over the coming year.

However, two in five (42%) IT leaders see demonstrating AI’s values as a challenge, whether that’s to seniors and execs or regular workers. Only 38% noted insufficient infrastructure as a challenge, which looks to be in the process of being addressed as companies prepare to modernize.

However, the IT skill shortage affecting companies globally continues to trouble one-third (32%) of businesses, with many also expressing concerns about AI policies.

Srini Koushik, President of Technology and Sustainability at Rackspace Technology, commented: “While some organizations have already implemented AI-powered solutions, many are still in the early stages, grappling with the considerations and challenges associated with AI adoption.”

Clearly, 2024 is set to be awash with investments in AI and supporting infrastructures and technologies, painting an overall positive picture for the industry.

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Craig Hale

With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!