According to an official release, Recognize, a technology investment platform focusing on the tech services industry, shared some findings from its recent CIO survey. The Recognize CIO Survey series is expected to include a regular panel of 250-500 CIOs in the US.
With insights from the survey, the report is expected to have surveyed organisations’ IT spends and budget plans. It is believed that 73% of CIOs foresee an increase in their IT budgets for 2024, while 15% expect no change, and 12% predict a reduction, highlighting an investment trend in the tech sector for the upcoming year.
69% of organisations presently utilise Large Language Models (LLMs), indicating extensive adoption. However, 24% organisations are yet to implement this technology, and 7% are uncertain about their engagement with these advanced AI systems, as per insights from the release.
Surveyors mentioned that AI can influence their organisations in the next two years. Furthermore, about 54% mentioned use cases that drive productivity and 22% highlighted AI’s role in future business operations, as per insight from the report.
