Global Technology Companies Embrace a Democratized Approach to AI Initiatives: Report
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Synopsis
A new report reveals that while many sectors are leaning towards centralized AI adoption, the technology industry is embracing a democratized model, promoting innovation and flexibility in AI experimentation worldwide.
Key Takeaways
- 36% of tech executives are developing AI governance policies.
- Successful AI implementation requires structured approaches.
- Technology firms are at the forefront of digital transformation.
- Employee feedback is crucial in investment decisions.
- 73% of tech investments link to sustainability
New Delhi, March 18 (NationPress) While numerous sectors are gravitating towards a centralized framework for artificial intelligence (AI) integration, the technology industry is adopting a democratized approach, fostering enhanced experimentation and flexibility on a global scale, according to a recent report released on Tuesday.
A report from KPMG International indicates that 36 percent of tech executives are actively working on AI governance policies while promoting innovative AI practices within their organizations.
Based on a survey involving 2,450 executives from 26 countries, including 490 technology leaders, the report underscores that effective AI implementation necessitates a structured approach.
This approach should entail cross-functional collaboration, risk assessment, and continuous learning to leverage the advantages of AI while addressing potential risks.
In addition to AI, the report emphasizes how the technology sector is spearheading digital transformation across various industries.
It asserts that the tech industry must not only lead by example but also reevaluate its strategies to maintain its competitive edge.
Strategic investments and disciplined decision-making have enabled tech firms to sustain growth despite market fluctuations.
"As technology rapidly advances, developing and implementing solutions responsibly is crucial," stated Atul Gupta of KPMG India.
He also noted that this approach can help reduce the risk of data breaches and the necessity for expensive retrofitting of security measures.
A major insight from the report is the increasing emphasis on profitability.
A rising number of tech professionals assert that digital innovations, particularly in AI, data analytics, cybersecurity, and modern service delivery models, have significantly enhanced their companies' financial performance over the past two years.
Furthermore, 76 percent of technology executives reported that they accurately assess costs and benefits prior to investing in new technologies.
The report further highlights the escalating significance of environmental, social, and governance (ESG) objectives in technology investments.
Approximately 73 percent of tech executives indicated that their investments are directly connected to sustainability and social responsibility goals.
Moreover, technology companies are considering employee feedback seriously when making investment decisions.
Prioritizing data protection and implementing robust security measures are paramount in fostering consumer trust as part of their ESG commitments, the report concluded.
