g-f(2)2739 Prepare Your Tech Budget: Embracing AI for Competitive Advantage

 

genioux Fact post by Fernando Machuca and Perplexity

Introduction by Fernando and Perplexity

In the rapidly evolving "g-f New World," characterized by the transformative power of Generative AI (GenAI), strategic planning for technology budgets is crucial for maintaining a competitive edge. The Forbes article "Plan Your Tech Budget: Embracing AI for Competitive Advantage" serves as a vital guide for organizations aiming to succeed in the "g-f Transformation Game." This piece underscores the importance of foresight and adaptability in leveraging AI to enhance productivity, expand global reach, and innovate business models. As AI becomes increasingly integral to business operations, understanding and strategically investing in this technology is essential for thriving in this new era.

The Importance of g-f(2)2739

The insights from g-f(2)2739 are indispensable for organizations seeking to win the "g-f Transformation Game" in the "g-f New World." By providing a roadmap for strategic AI integration, this article equips businesses with the knowledge to navigate the complexities of AI adoption, ensuring they are well-positioned to capitalize on its opportunities while mitigating potential risks. Embracing AI not only enhances operational efficiency but also enables organizations to innovate and expand their market presence, making it a critical component of future success.

Introduction

The Forbes article "Plan Your Tech Budget Now To Succeed With AI In 2025" provides a comprehensive guide for technology leaders on how to strategically plan their budgets to effectively integrate Artificial Intelligence (AI) by 2025. It emphasizes the importance of foresight and adaptability in navigating the economic, technological, and geopolitical uncertainties while leveraging AI for competitive advantage.

genioux GK Nugget

"Strategic planning and investment in AI, focusing on data quality, governance, and scalable infrastructure, are essential for businesses to harness AI's transformative potential by 2025." — Fernando Machuca and Perplexity, August 9, 2024

genioux Foundational Fact

As technology leaders anticipate a 5.3% growth in global tech purchases in 2024, driven by increased IT budgets, they are focusing on four strategic priorities: enhancing workforce capabilities, expanding software investments, ensuring infrastructure stability, and leveraging outsourcing. The integration of AI is central to these priorities, with investments directed towards high-quality data management, robust AI governance, and scalable architectures. Additionally, managing cloud expenses and experimenting with new technologies are crucial strategies for maintaining competitiveness and fostering innovation.

The 10 Most Relevant genioux Facts

1. Optimism in IT Budgets: 91% of technology decision-makers expect increased IT budgets, forecasting a 5.3% growth in global tech purchases in 2024.
2. Strategic AI Investment: 92% of tech leaders plan to enhance AI capabilities, focusing on data management and AI governance.
3. Infrastructure Stability: Ensuring stable and scalable infrastructure is a key priority to support business performance.
4. Cloud Expense Management: Implementing FinOps practices and cloud cost management tools is essential to optimize expenses amid global inflation.
5. Technical Debt Reduction: Leading IT organizations allocate 10–30% of their budgets to rationalize applications and reduce technical debt.
6. Experimentation and Innovation: Embracing new technologies, such as multimodal generative AI and synthetic data, is crucial for breaking down silos and speeding up time to market.
7. Customization at Scale: AI enables personalized learning experiences at scale, transforming traditional educational models.
8. Post-Quantum Security: Investing in post-quantum security is vital to protect sensitive data from future quantum-computing threats.
9. Productivity Enhancement: AI tools can significantly improve individual and organizational productivity, offering competitive advantages.
10. Global Market Expansion: AI-driven translation capabilities allow companies to expand their reach and market products globally at reduced costs.

Conclusion

The article underscores the necessity of strategic foresight and investment in AI to prepare businesses for the technological landscape of 2025. By focusing on data quality, governance, infrastructure, and innovation, companies can harness AI's transformative power to enhance productivity, expand global reach, and maintain a competitive edge in their respective markets.

REFERENCES

The g-f GK Context

Forrester, Plan Your Tech Budget: Embracing AI for Competitive Advantage, Forbes, August 8, 2024.

ABOUT THE AUTHOR

Forrester is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; 70 million real-time feedback votes; and the shared wisdom of our clients.

Classical Summary of the Article

The Forbes article "Plan Your Tech Budget Now To Succeed With AI In 2025" emphasizes the importance of strategic planning and investment in technology to effectively harness Artificial Intelligence (AI) by 2025. Here are the key points:

1. Optimism in IT Budget Growth: Despite economic uncertainties, there is optimism among technology leaders, with 91% expecting an increase in IT budgets, leading to a forecasted 5.3% growth in global tech purchases in 2024. This optimism is driven by priorities such as enhancing workforce capabilities, expanding software investments, ensuring infrastructure stability, and leveraging outsourcing to address skills gaps.
2. Strategic AI Investments: Technology leaders are committed to increasing their AI budgets, focusing on areas like data management and AI governance. Key investment areas include high-quality data, robust AI governance frameworks, scalable and secure architecture, and a dynamic mix of skills. Knowledge management is also prioritized to boost productivity and innovation.
3. Managing Cloud Expenses: With global inflation averaging 5.9%, tech executives need to strategically reallocate IT budgets. Strategies include implementing FinOps practices to manage cloud expenses, utilizing cloud cost management tools, and addressing technology sprawl and technical debt by rationalizing applications and tech stacks.
4. Experimentation and Innovation: To remain competitive, technology executives should experiment with new technologies and organizational structures. This includes using platform teams to break down silos, leveraging multimodal generative AI for personalized experiences, and exploring synthetic data for AI training. Investment in post-quantum security is also crucial to protect against future data breaches.

Overall, the article underscores the need for proactive planning and strategic investment in AI and technology to ensure businesses are well-prepared for the opportunities and challenges of 2025.

Forrester

Forrester Research, Inc. is one of the world's most influential research and advisory firms, renowned for its insights and guidance in the realms of business and technology. Founded in 1983 by George F. Colony in his basement in Cambridge, Massachusetts, Forrester has grown into a global powerhouse with locations in over 30 countries¹².

George F. Colony, the founder, chairman, and CEO, is a visionary thought leader who has made bold and counterintuitive predictions about the future of technology and business. His foresight includes the birth of client/server computing, the rise of the internet economy, the dot-com implosion, the emergence of social computing, and the transition from centralized IT to the cloud¹². Colony's leadership has been instrumental in shaping Forrester's mission and values, emphasizing direct, honest advice and a customer-obsessed approach to accelerate growth¹.

Forrester's research focuses on helping business and technology leaders navigate digital disruptions and leverage customer obsession to drive growth. The firm provides insights on a wide range of topics, including digital transformation, customer experience, and emerging technologies such as generative AI¹². Forrester's analysts and advisors are trusted by executives worldwide, offering context and clarity in an ever-evolving landscape.

Throughout its history, Forrester has been at the forefront of identifying and analyzing key trends and shifts in the business and technology sectors. The firm's research and advisory services have been quoted in prestigious publications such as The Wall Street Journal, The Economist, The New York Times, and BusinessWeek¹². Forrester's influence extends to international audiences, with George Colony addressing prestigious forums such as the World Economic Forum and the United Nations¹².

Forrester's commitment to innovation and excellence has solidified its reputation as a trusted advisor and thought leader. The firm's insights continue to shape the strategies of organizations worldwide, helping them thrive in the digital age.

¹: [Forrester Executive Leadership](1)

²: [Forrester Management](2)

Is there anything else you'd like to know or discuss?

Source: Conversation with Copilot, 8/9/2024

(1) George F. Colony - Forrester. https://go.forrester.com/executive-leadership/george-f-colony/.

(2) George Colony | Management | Forrester Research, Inc. https://investor.forrester.com/management/george-colony.

(3) 40+ Years Of Bold: A Forrester Timeline. https://www.forrester.com/about-us/forrester-timeline/.

(4) Forrester, Jay W. - INFORMS. https://www.informs.org/Explore/History-of-O.R.-Excellence/Biographical-Profiles/Forrester-Jay-W.

(5) Jay Wright Forrester - Wikipedia. https://en.wikipedia.org/wiki/Jay_Wright_Forrester.

(6) linkedin.com. https://www.linkedin.com/company/forrester-research.

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