African CEOs identify Advanced AI and Analytics as success drivers – IBM Study

• African CEOs recognize the broad benefits of advanced technologies, with half (50%) of the respondents identifying generative AI, deep learning, and machine learning as critical to success.
• Over half (53%) of African CEOS cite technology as the most impactful external factor on their enterprise, with market factors (51%) and regulatory factors (49%) emerging as second and third, respectively.

A new global study by the IBM (NYSE: IBM) Institute for Business Value found that over half (54%) of African CEOs surveyed identify customer experience as their highest business priority. They also recognize productivity or profitability as key to achieving their business goals, ranking it their second highest priority (46%). However, they continue to face key barriers as they race to modernize and adopt new technologies like generative AI.

The annual CEO study, CEO decision-making in the age of AI, Act with intention, found that African CEOs expect to realize significant value from advanced forms of AI and analytics such as cloud computing, automation, generative AI, deep learning, machine learning, advanced analytics, and more. However, African organizations face influential external factors hindering their AI readiness over the next three years. Over half (53%) of African CEOs identify technology factors as the most impactful force that could significantly impact their respective AI adoption journeys. Additionally, regional CEOs cite market factors (51%), regulatory factors (49%) and workforce and skills (33%) as leading external factors that are having the most significant impact on their organizations.

More than half (57%) of global CEOs surveyed cite concerns concerned about data security, and 48% worry about bias or data accuracy, barriers they indicate could slow their adoption of generative AI. African CEOs face several data challenges, with nearly half of the respondents citing unclear data calculation and reporting across suppliers and partners (48%) and within their organizations (47%) as the most critical risks or barriers.

By Africa.com

https://www.africa.com/ibm-study-african-ceos-identify-advanced-ai-and-analytics-as-success-drivers-as-customer-experience-and-productivity-jump-to-the-top-of-their-agendas/