More than half of businesses plan to adopt AI within the next two years


This article is brought to you by Retail Technology Review: More than half of businesses plan to adopt AI within the next two years.

Artificial intelligence (AI) has rapidly transitioned from a science fictional concept to a technology that is reshaping businesses worldwide.

Organisations are embracing AI because of its potential to drive efficiency and enhance decision-making processes.

According to the 2024 State of IT survey by Spiceworks, 57% of organisations have concrete plans to implement AI solutions in the near future. Notably, a quarter of these businesses are already integrating AI into their operations, while 32% are preparing to do so within the next two years.

“The adoption of AI technology across industries is both exciting and concerning from a cybersecurity perspective. While AI can revolutionise business operations and drive efficiency, it also introduces new attack vectors and risks that organizations must be prepared to address,” says Carlos Salas, a cybersecurity expert at NordLayer.

Investment in cybersecurity

The 2024 State of IT survey also asked businesses about their IT budget. Two-thirds (66%) of organisations said that their total IT budget will be increasing in 2024 compared to last year. Interestingly, 4% decided to lower their IT budgets since the previous year, and 30% of businesses plan no change.

For more than half (52%) of organisations, leading reasons for IT budget increase are a need to upgrade outdated IT infrastructure and increased priority on IT projects. Another major factor for 48% of businesses is increased security concerns.

NordLayer’s research from 2023 also looked into how businesses spend their IT and cybersecurity budget. Purchase of cybersecurity solutions/services/apps (61%) as well as cybersecurity training for employees (56%) were the most popular IT investments among businesses last year.

The research showed that a third of companies (35%) prepared to allocate up to a quarter of their organizational budget for IT needs last year. Another 32% of respondents planned to invest up to half of their budget. Only 3% of businesses said they didn’t plan to invest in cybersecurity in 2023, out of which the majority are small companies. 

"The fact that two-thirds of organizations are boosting their IT budgets for 2024 is an encouraging sign that businesses recognize the role technology plays in driving innovation and competitiveness. As AI adoption accelerates, allocating adequate resources for cybersecurity will be crucial to safeguarding these cutting-edge technologies and the sensitive data they process,” says Salas.

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