Monday, May 27, 2024

Dell Technologies Research: GenAI a catalyst for innovation yet Irish firms struggle to keep pace with change – techbuzzireland

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Generative AI (GenAI) and AI will significantly transform industries in Ireland, according to 70% of respondents to the Dell Technologies Innovation Catalyst Research.

Based on responses from 6,600 IT and business decision makers across 40 countries including 100 in Ireland, the research suggests that while there is broad optimism for AI and GenAI, the extent to which organisations are prepared for the rapid pace of change varies greatly.

71% say they are well positioned competitively and have a solid strategy in place to harness the power of AI. Moreover, nine in 10 (92%) think organisations can use GenAI responsibly.

At the same time, over half (56%) of the respondents are uncertain what their industry will look like in the next three to five years and forty-nine percent report struggling to keep pace with advancements in GenAI and other technologies. They cite the lack of the right talent (43%), lack of budget (33%) and an outdated technology environment (32%) as challenges they face in driving innovation.

To help overcome some of the challenges, fifty-nine percent of organisations are training or upskilling employees to use GenAI while six in 10 (62%) are providing AI-optimised technology to improve the work experience.

GenAI Moving from Ideation to Implementation

Respondents cite GenAI’s transformative or significant potential to deliver value in improving IT security posture (48%), enhancing the customer experience (47%) and unlocking productivity gains (42%).

More broadly, responses suggest that organisations are working through GenAI practicalities as they transition from ideation to implementation, with 75% saying they have begun implementing GenAI. As organisations increase adoption, concern centres around understanding where risks reside and who is responsible for them. Sixty-six percent agree that the organisation, rather than the machine, the user or the public, is responsible for any AI malfunction or undesired behaviour. 

Catherine Doyle, Managing Director at Dell Technologies Ireland, said: “In today’s rapidly evolving landscape, the power of Generative AI and other emerging technologies cannot be understated. Our research underscores the transformative potential of GenAI to drive innovation in every industry across Ireland. Businesses are now harnessing the power of AI to unlock the value hidden within their data, propelling growth and driving innovation forward.

“However, it’s clear that while optimism abounds, many organisations are struggling to keep pace with rapid advancements in technology. It’s vital for leaders to not only recognise the potential of GenAI but also to act swiftly in using its potential to turn ideas into tangible innovation. By leveraging the capabilities of Generative AI and investing in the right technology infrastructure, businesses can position themselves for success in this era of unprecedented change.”

The Right Technology Infrastructure will help Organisations to Succeed

The research also reveals modern data infrastructure’s critical role as technologies like GenAI gather pace and data volumes increase. Investing in a modern, scalable infrastructure was cited as the number one area of improvement for businesses to accelerate innovation. Most IT decision makers (66%) say they prefer an on-prem or hybrid model, to address the challenges they foresee with implementing GenAI.

The ability to share data across the business is also a key part of the innovation puzzle, with only 1 in 3 (33%) saying they can turn data into real-time insights today to support innovation efforts. Moreover, 95% face data management challenges. However, responses suggest organisations are acting on this challenge, with 64% saying that data is the differentiator and their GenAI strategy must involve using and protecting that data.

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