The Constellation Research 2017 Digital Transformation Study reveals that businesses are allocating their funds to IoT, but their spending on AI is still somewhat cautious. However, AI is expected to emerge in the next year.
This is because development kits and frameworks are becoming increasingly more available, and technological experimentation is never out of season.
Nearly half of respondents indicated that they already have an IoT strategy in place or that they have pilot projects underway. On the other hand, only one quarter of the respondents said they were investing in AI.
So, what does this mean for times ahead? Bluntly put, the growing demand for AI and IoT is expected to drive large investments into big data technology and SaaS/cloud.
Here are some key findings from the study:
- Nearly 70% of respondents said they have some sort of digital transformation strategy.
- Only 25% of them are investing in AI as of right now.
- 60% say that as digital transformation continues to unfold, the workforce will become increasingly more important.
- Less than 20% have invested in synchronous ledger technologies (SLT) or blockchain technology.
- Nearly half of them either have an IoT strategy in place or have pilot projects underway.
- About 75% of them said they are planning to increase their big data and cloud technology investing.
- 64% of them believe that digital transformation is paramount to driving profits in the company.