It is that time of the year the air is abuzz with a new beginning as a year comes to a close. All these years we have seen technology as an evolutionary entity, graduating from one milestone to the next, forever upping the ante and bringing new set of challenges and problems to solve.
In all 2019 looks like an exciting year for tech and in many ways see the firming up of many tech trends like IOT to AI, taking deeper roots and impacting enterprise computing in ways we have not seen before.
As we look at the year ahead, we need to see through a dual lens- one from the supply side of IT and the other from the demand side of things. The supply side (the vendors) needs to stay focused and relevant to capture larger mandates from the tech disruption and the demand side (the enterprises) needs to ink progressive strategies to adopt newer tech to stay ahead of the race. In a nutshell, the way things are progressing, technology will be common denominator that will determine the success of companies across verticals, no matter what their core business is, they need to induct massive dose of modern tech to transition to the next orbit of growth and profitability.
According to a recent Gartner study, it said, that the top five areas that Asia/Pacific CIOs will invest new or additional funding in 2019 are: Business Intelligence and Data Analytics (42 percent); Core System Improvements and Transformation (33 percent); Artificial Intelligence (AI) and Machine Learning (33 percent), Cybersecurity and Information Security (32 percent); and Digital business initiatives (30 percent).
The 2019 Gartner CIO Agenda survey gathered data from more than 3,000 CIO respondents in 89 countries and all major industries — 671 CIOs are from 16 countries within Asia/Pacific, representing $6.1 trillion in revenue and $73.7 billion in IT spending.
Gartner also said that AI and Cybersecurity will shape the CIO technology agenda. “The CIO Agenda survey indicates that disruptive emerging technologies will play a major role in reshaping business models in Asia/Pacific as they change the economics of all organizations. Thirty-four percent of CIOs in the region expect AI to be the most disruptive game changer for their organizations in 2019, taking the top spot away from data and analytics, which now occupies second place at 26 percent.”
Moreover 49 percent of Asia/Pacific CIOs have already deployed AI technology or deployment is in short-term planning, coming in second behind cybersecurity (86 percent). The top three ways Asia/Pacific CIOs are using AI are for chatbots (37 percent), process optimization (27 percent) and fraud detection (20 percent).
“This rapid shift to AI looks revolutionary on the surface, but this bump in adoption rate may indicate irrational exuberance instead,” says Rowsell-Jones, Vice President and Distinguished Analyst at Gartner. “While CIOs can’t afford to ignore this class of technologies, they should retain a sense of proportion. This latest batch of AI tools is yet to go through its Trough of Disillusionment.”
“The strong focus on cybersecurity shows the necessity of creating a secure base for digital business that shields their organization and clients. The survey indicates that 45 percent of Asia/Pacific CIOs still own the responsibility for cybersecurity. However, the IT organization alone cannot provide cybersecurity anymore,” adds Rowsell-Jones
Moreover Gartner observers that the rise of social engineering attacks, such as phishing, require a broader behavioral change of all employees. In 24 percent of the digitally top performing organizations in Asia/Pacific, the boards of directors are accountable for cybersecurity rather than the CIO alone. Nevertheless, CIOs are combining measures to harden information processing assets with efforts to influence the people that use technology to improve security against cyber threats.