{"id":100447,"date":"2024-05-07T12:31:25","date_gmt":"2024-05-07T11:31:25","guid":{"rendered":"https:\/\/www.cloudcomputing-news.net\/?p=100447"},"modified":"2024-05-07T12:31:26","modified_gmt":"2024-05-07T11:31:26","slug":"ai-fuels-almost-30-increase-in-it-modernisation-spend-but-firms-are-unprepared-for-data-demands","status":"publish","type":"post","link":"https:\/\/www.cloudcomputing-news.net\/news\/ai-fuels-almost-30-increase-in-it-modernisation-spend-but-firms-are-unprepared-for-data-demands\/","title":{"rendered":"AI fuels almost 30% increase in IT modernisation spend, but firms are unprepared for data demands"},"content":{"rendered":"\n

Couchbase<\/strong><\/a>, a cloud database platform company, has released the findings from its seventh annual survey of global IT leaders. <\/p>\n\n\n\n

The study of 500 senior IT decision makers found investment in IT modernisation is set to increase by 27% in 2024, as enterprises look to take advantage of new technologies, such as AI and edge computing, while meeting ever-increasing productivity demands. There is a clear demand for modernisation and tech investment: 59% are worried their organisations\u2019 ability to manage data won\u2019t meet GenAI\u2019s demands without significant investment. With the right approach to this investment, enterprises will be better prepared to overcome productivity challenges and satisfy end users who demand continuously improving experiences.<\/p>\n\n\n\n

Enterprises plan to spend on average $35.5 million on IT modernisation in 2024. More than a third of that will be on AI, with the average enterprise investing over $21 million on the technology in 2023-24, and $6.7 million on generative AI (GenAI) specifically. The drivers for this are clear: rapidly prototyping and testing new ideas, making employees more efficient, and identifying and capitalising on new business trends. Yet enterprises recognise there are challenges ahead \u2014 from ensuring AI can be used effectively and safely, to having sufficient compute power and data center infrastructure in place.\u00a0<\/p>\n\n\n\n

\u201cEnterprises have entered the AI age, but so far are only scratching the surface,\u201d said Matt McDonough, SVP of product and partners at Couchbase. \u201cAlmost every enterprise we surveyed has specific goals to use GenAI in 2024, and if used correctly this technology will be key to managing the challenges facing organisations. From keeping pace with end-user expectations for adaptable applications, to meeting ever-accelerating productivity demands, GenAI-powered applications can provide the agility and productivity enterprises need. Enterprises must be certain that their data architecture can cope with GenAI\u2019s demands, as without high-speed access to accurate, tightly managed data it can easily guide individuals and organisations down the wrong path.\u201d<\/p>\n\n\n\n

Key findings include:<\/p>\n\n\n\n