Research reveals that Generative Artificial Intelligence (AI) stands out as one of the largest bets for the future of the sector, despite economic and geopolitical challenges.

KPMG has released its research CEO Outlook 2024, revealing that 78% of CEOs in the technology and telecommunications industries have Generative Artificial Intelligence (IA Gen) as an investment priority.

In addition, 55% of respondents pointed out that adaptation to new technology has considerable risks to their companies, especially considering unstable economic scenarios and geopolitical tensions.

Among the main challenges faced by the sector, the adoption of IA Gen and other emerging technologies figure as the largest obstacle (55%), followed by economic uncertainty and political complexities (49% in both cases).

According to Marcio Kanamaru, KPMG’s technology, media and telecommunications partner in South America, there is a consensus on the transformative potential of AI, although its adoption is driven by practical needs for operational efficiency, innovation and cyber security.

I do not fight cyber attacks

The research also points out that AI GEN can play a crucial role in improving the workforce, as well as contributing to the detection of fraud and response to cybers. For 23% of CEOs, the effective implementation of this technology will be the main operational priority over the next three years.

Another relevant fact of the survey is that 71% of CEOs feel increasingly pressure to ensure the prosperity of their companies in the long run. In addition, 29% recognize the competitive disadvantage of not meeting market expectations regarding ESG (environmental, social and governance) factors, something that will become a central concern in 2024.

Regarding economic growth, perspectives are moderate. About 40% of business leaders project up to 2.5% in the next three years, while only 3% do not expect significant growth.

KPMG AI research listened to more than 200 CEOs in 11 countries

The research of KPMG was performed with 240 CEOs From the technology and telecommunications industry from 11 countries, covering companies with annual revenues of over US $ 500 million, one third of them with more than US $ 10 billion in annual revenues.