We keep our ear to the ground for the interesting stats, insights and discussion points you need to feel in the know.
1. You’ve invested in GenAI, now what?
43% of CEOs have started investing in GenAI and an additional 45% are planning to do so in the next year, according to the latest EY Global CEO Outlook Pulse survey. Now, what’s the best way these businesses can maximize GenAI ROI? Imagine GenAI as this new powerhouse player on your team. You wouldn’t just let them do their own thing; you’d want to integrate their skills into your overall game. Start with figuring out where you stand with GenAI, like, are you just flirting with the idea, or are you all in? Then, you’ve got to find the sweet spots where GenAI can really make a difference and make sure you’re managing it all responsibly. The trick is to get everyone on board, from tech teams to top management, and focus on how GenAI can shake things up for the better. Think of it this way: if AI lives up to its hype, it could be as revolutionary as the personal computer was, ramping up efficiency, sparking new ideas, and opening doors to different business models. However, it’s also a heads-up for businesses —those that don’t embrace AI swiftly could find themselves at a disadvantage. It’s a pivotal moment, and staying ahead is key…
Explore the five levels of the GenAI maturity model
2. Hook, line, and sinker
Gen Z, the generation that practically grew up online, are second-guessing themselves when it comes to cybersecurity. You know those dodgy emails that trick you into clicking on a bad link that can do all sorts of damage? That’s a type of social engineering attack called phishing. Only about 31% of Gen Z folks are confident they can spot these schemes, and a whopping 72% admit they’ve clicked on sketchy links at work. Social engineering manipulates human psychology, unlike traditional hacking methods that exploit technical vulnerabilities. “Even the most well-funded defences, where investments in leading cyber technology have been built over years, can fail or be bypassed if an employee is fooled into giving access to a cyber thief,” says Jim Guinn, II, EY Americas Cybersecurity Leader. “And it can happen quickly — in just a matter of minutes.” A successful cyber-attack could disrupt basic operations, compromise customer and company data privacy, threaten a company’s reputation and create significant legal and economic consequences. Here are a few protective strategies you can use to stay safe…
How social engineering scams help spark uptick in cybercrime
3. Doubling down on AI
Artificial intelligence continues to dominate, and leaders can’t afford to ignore it any longer. A new EY survey reveals a surge in AI investments, with projections showing a potential doubling to over US$10 million in the next year for the forward-thinkers already on board. Just three years ago, a mere 5% of budgets were AI-focused. Now, 88% of senior leaders are allocating over 5% of their total budget to AI, and many are ready to up the ante to 25%. The payoff? Those betting big on AI are reaping the rewards, with significant returns on their investments. This isn’t just a spending spree; it’s strategic. Success in AI means embracing a new business ethos, where data savvy and tech-fluent teams are as crucial as the AI itself. One thing is crystal clear: invest smartly in AI now, and you’ll be paving the way to be a pioneer in the industry of tomorrow. As investments in AI continue to increase, executives should do these five strategies to navigate the everchanging complexities of AI adoption for their business…
Enterprise AI adoption key to corporate growth
4. Head in the clouds
Tech leaders are assessing their cloud adoption strategies, recognizing the need for transformative action. Cloud technology is a key enabler for redefining operations and integrating AI, yet only 32% of organizations are meeting their cloud objectives, according to EY research. The transition to a cloud-native environment is hindered by technical and organizational challenges, with many companies still operating in a hybrid cloud and on-premises state. For business leaders, diving into the cloud-native world is way more than just getting the latest tech. It’s about sparking a whole transformation in their company, with technology as the backbone. They’ve got to have a vision, think strategically, and pretty much reimagine what their organization is going to look like down the road. It’s all about welcoming new ways of doing business and shaping a future where their business architecture is totally in sync with the cloud.
Rethink your cloud strategy to reshape your business
5. Digital dance
Artificial intelligence is revolutionizing operations, sparking a surge in efficiency and innovation. It’s a digital dance of data and decisions, where AI is the lead partner, guiding companies to make smarter, swifter choices that cut costs and satisfy customers. It’s a digital dance where AI leads, turning once static operations into dynamic engines of growth. No longer just a cost line, AI is the maestro orchestrating a symphony of data, automating tasks, and offering insights that bind processes into a seamless strategy, attuned to the ever-evolving customer rhythm. From automotive to food production, AI is redefining the landscape—think smarter assembly lines, or food giants using AI to tweak recipes in real-time for peak performance and safety, and procurement bots that let humans focus on the big picture. It’s about harnessing AI to forecast sales, streamline supply chains, and keep inventory in check, all while staying ahead of consumer trends. As companies gear up to infuse AI into their operations, the focus is sharp: safeguard data, scale smartly, and manage change with finesse. As leaders embrace AI’s transformative potential, the horizon of business operations expands, promising a future where efficiency and growth go hand in hand, and the only limit is our imagination.