The Impact of AI on Business: Trends, Challenges and Opportunities

Learn how 1,400 ITDMs around the world plan to integrate AI into their strategies, operations and hiring plans for 2024.

AI is ushering in significant transformation across industries while reshaping the way businesses operate, interact with customers and compete in the marketplace. While the popularity of AI is reminiscent of past technological shifts, this transformation is characterized by its blistering pace, which far exceeds the historic timelines we’ve associated with other large industry shifts.

The early stages of this transformation highlight its complexity, as organizations try to harness the potential of generative AI while aligning its use with organizational goals and integrating it into their technology portfolios.

The release of our 2024 Global AI Report, "The Impact of AI on Business: Trends, Challenges and Opportunities", marks a pivotal moment in understanding the evolving landscape of an AI-driven business. Drawing from a global survey of over 1,400 IT decision-makers, the report offers insights into how generative AI is influencing investment priorities, creating challenges and opening the door to new opportunities.

Here are just a few of the insights available to you now in this complimentary report:

  • Spending is on the rise: AI spending in 2024 is projected to double compared to 2023, to an average of $2.5 million per company.
  • Investments in AI are paying off: The perceived benefits of using AI continue to grow, with 86% of companies reporting gains from its use, compared to 74% last year.
  • Companies must adapt to the talent shortage: The AI talent shortage significantly impacts critical roles, prompting companies to balance developing internal talent and recruiting new hires to enhance their AI capabilities.

Commissioned by Rackspace Technology and sponsored by AWS, Coleman Parkes Research conducted a survey in January and February of 2024 among IT decision-makers from various industry verticals, including financial services, pharmaceuticals, manufacturing, retail, entertainment, hospitality, travel, and government and healthcare, across the Americas, Asia and EMEA regions. This report documents their survey responses.

Get your complimentary copy of the 2024 Global AI Report today.

Download the research report here


You may withdraw your consent to receive additional information from Rackspace Technology at any time. Information collected in this form is subject to the Rackspace Technology Privacy Notice.