Many CIOs are stuck in the AI slow lane but setting ambitious priorities as if they're not [Yahoo! Finance]
ServiceNow, Inc. (NOW)
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Source: Yahoo! Finance
Their top priority for the buzzy technology this year—creating new revenue streams—comes despite the modest progress they've made in doing anything useful with it. Only 26% of CIOs have deployed AI in any meaningful way, according to a new survey from consulting giant EY. And less than half have even got to the point of a test project using AI or proof of concept. The survey of 500 U.S.-based CIOs at firms with more than $1 billion in annual revenue, in partnership with advisory firm Oxford Economics, found that 37% of CIOs say creating new revenue streams was their most important objective for generative AI deployment, followed by reinventing their businesses at 27%. Only one in five say their main reason for deploying AI is reducing costs. And yet most generative AI adoption up to this point has been focused on back-office tasks, like customer service chatbots, AI copilots, or speeding up coding. It's much easier to automate work that employees do today than reinvent what may
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