According to a new study by Cisco, over 70% of CEOs worry that IT and infrastructure gaps will lead to lost opportunities, and these concerns are already translating into real financial consequences.
Some 53% believe that insufficient investment in technology is costing them a competitive edge, while two-thirds are concerned about the opportunity costs of not investing more in technology.
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Meanwhile, 69% see AI as a tool to boost efficiency, 68% expect it to spur innovation and 54% believe it will help them outpace competitors, the study revealed.
Cisco also revealed 35% of CEOs blame infrastructure limitations for getting in the way of AI, alongside 34% blaming security concerns, 33% budget constraints, 30% compelling business cases and 28% exaggerated benefits, respectively.
Cisco’s chief product officer, Jeetu Patel, said: “In a dynamic landscape where competition is fierce, speed decides the winners. Leaders who act decisively today to build resilient, future-proofed networks will be the AI-forward leaders driving real value for their business.
“Eventually there will be only two kinds of companies: those that are AI companies, and those that are irrelevant.”
Cisco EMEA president, Oliver Tuszik, continued: “Whole businesses will be revolutionized if they can unlock AI’s potential to innovate faster, simplify their operations, and withstand digital disruptions. But no one can do it alone. That’s why 96% of CEOs are leaning on trusted partners to make the leap.”
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