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Banks bet on AI to deliver digital efficiencies

CIO Business Intelligence

In the face of shrinking budgets and rising customer expectations, banks are increasingly relying on AI, according to a recent study by consulting firm Publicis Sapiens. According to the study, the biggest focus in the next three years will be on AI-supported data analysis, followed by the use of gen AI for internal use.

Banking 353
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IBM: 78% of mainframe shops are piloting, operating AI apps

Network World

“Gen AI-driven application modernization tools are revolutionizing mainframe modernization strategies, accelerating time to value, and closing mainframe skills gaps by enabling developers to modernize or build applications faster and more efficiently,” the study stated.

IBM 468
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Equinix to cut 3% of staff amidst the greatest demand for data center infrastructure ever

Network World

For many organizations, while budgets are ticking slightly up, it’s only in line with inflation, while new initiatives, including AI, need to be funded.” Studies by BCG and LinkedIn have found that one-third of skills associated with technology roles will be obsolete in five years, requiring new skills in their place.

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Unlocking the potential of generative AI in the software development life cycle

CIO Business Intelligence

Nearly half of C-suite respondents report that over 30% of tech projects are late or over budget, with one in five dissatisfied with most outcomes. The traditional software development life cycle (SDLC) is fraught with challenges, particularly requirement gathering, contributing to 40-50% of project failures.

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Balancing the costs and opportunities of GenAI adoption

CIO Business Intelligence

For CIOs tasked with managing IT budgets while driving technological innovation, balancing these costs against the benefits of GenAI is essential. Ineffective cost management: Over 22% of IT executives highlight challenges in managing costs and developing clear ROI methodologies. million in 2025 to $7.45

Budget 246
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IT leaders’ AI priorities emphasize productivity over innovation

CIO Business Intelligence

Over two-thirds of IT leaders have focused their AI investments on employee productivity, with just over half using AI to improve customer support or to enable innovation, according to the AI Priorities Study from CIO.com parent company Foundry. Nearly all about 98% of IT leaders reported challenges with implementing new AI initiatives.

Survey 300
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Gartner projects major IT spending increases for 2025

CIO Business Intelligence

Free the AI At the same time, most organizations will spend a small percentage of their IT budgets on gen AI software deployments, Lovelock says. Even though many device makers are pushing hard for customers to buy AI-enabled products, the market hasn’t yet developed, he adds.