Technology
Canon invites Enterprises to “THINK BIG – The Power of Future”
Published
3 months agoon
By
Sketch the future with an infinite spectrum of technology
HONG KONG, Aug. 5, 2024 /PRNewswire/ — Navigating the era of omnipresent Generative AI, large-scale language models (LLMs) are becoming indispensable for multifaceted operations due to their expertise in data and textual processing. As a seasoned provider of cutting-edge business technologies, Canon Hong Kong hosted the “THINK BIG – The Power of Future” event at the JW Marriott Hotel Hong Kong, showcasing the revolutionary technological changes transforming the commercial landscape.
“Generative AI will be the indispensable companions and pivotal catalyst for entrepreneurs worldwide to stay ahead of the curve,” said Mr. Kazuhiro Ozawa, President and CEO of Canon Hong Kong. “Enterprises will witness the versatile applications of myriad tomorrow’s solutions alongside Canon, enabling them to formulate competitive, cost-effective, and sustainable business strategies with the Power of Future.”
“‘THINK BIG – The Power of Future’ event in Hong Kong exemplifies Canon’s unwavering commitment to fostering innovation across Asia,” said Mr. Norihiro Katagiri, Senior Vice President of Canon Singapore. “Building on the success of THINK BIG series in Singapore, we are excited to introduce this event to Hong Kong. Our goal is to enable our customers and business leaders to fully harness the power of emerging AI technologies, thereby helping them to achieve their strategic objectives in a future increasingly influenced by intelligent automation. As we embark on this new era of work, we remain dedicated to playing a key role in the region’s advancement towards an automation-driven workplace.”
Futuristic AI across All Industries
Accelerated Analysis & Writing
AI has been prevalent in enhancing overall workplace performance, particularly in speeding up daily office work, such as document review and email drafting. The most up-to-date Antelope AI Genie incorporates LLM and RAG technology, intelligently analyzes several multi-lingual documents to provide real-time comparisons and summaries, allowing users to easily comprehend the main points of numerous files. In addition, staff can draft business emails effortlessly by assigning roles – such as legal consultant, sales manager, or IT specialist, and giving personalized instructions to Genie, which then generates custom-written emails in seconds. The brilliant AI assistant can certainly be of tremendous help in all kinds of enterprises with its incomparable analysis and writing abilities.
Pave Your Way to Digitalization
Digitalization is another crucial step in building an automated and paperless workplace, which can be attained with the aid of the Antelope AI Capture Solution. Not only does it recognize both handwritten and multilingual text on paper documents, but it also does not require pre-set document layouts in advance. Users can simply take a snapshot of physical documents, and AI Capture will instantly recognize the text and extract the needed data. With the easy-to-use solution providing highly accurate capturing results, businesses can smoothly transit to a smart workplace without hassles.
Hassle-free Ordering in the F&B and Retail Industry
Industry-specific solutions are indispensable for effectively boosting the performance of different sectors. The 2-in-1 InSnap & e-Procurement Solution is an all-rounded solution specifically focused on the F&B industry and retail industry and aims to facilitate the entire ordering process by seamlessly connecting restaurants with their headquarters. Frontline staff in the restaurants can verify daily received deliveries simply by taking a picture of the receipts with a smartphone or tablet, from which InSnap automatically compares the data with purchase orders previously placed by admin staff in headquarters, effectively preventing wrong deliveries. When there is insufficient stock, store managers can instantly notify headquarters using the e-procurement function to ensure timely stock replenishment. The InSnap & e-Procurement Solution bridges the gap between scattered stores and the back office, facilitating smooth stock ordering and optimizing the F&B and retail business cycle.
AI-empowered Legal Assistant
In the legal sector, the comprehensive Contract Lifecycle Management Solution fully facilitates a lawyer’s workflow from document drafting to scheduling contract renewals. It starts with summarizing piles of legal documents into key points and grouping them according to different legal concepts, helping lawyers to quickly review the documents. AI Genie is then exceptionally useful for composing contracts based on provided instructions. The completed contract can be seamlessly passed to the client for signature via Antelope 6, the all-in-one Document Management Solution, which can also send a personalized reminder for contract renewal to the lawyer. Contract lifecycle can be managed effortlessly with the smart AI by your side.
Automated Administration with RFID & Robotics
Administration is an essential necessity in each enterprise, and its efficiency can be significantly enhanced with the increasing adoption of RFID and robotics across industries. Stock-taking, for instance, can be transformed from a mundane and time-consuming task to a cinch completed in the blink of an eye with RFID Asset Management Solution. By sticking smart RFID tags to assets such as laptops, desks, and chairs, the assessment can be done simply with a handheld reader set providing 1,300+ reads per second, simultaneously recorded in both the centralized cloud portal and the comprehensive mobile app. In case there are massive stocks, the Stock-taking Robot is at your service to expedite the process, maximizing productivity. True automation can be attained with leading RFID and robotics technology.
Elevate the Quality of Care
To significantly enhance physician-patient communication, an informative medical report is indispensable. The newly launched Medical Reporting System, featuring an integrated DICOM Collector, accelerates the rapid creation of personalized reports and medical images at near-film quality. The system enables the conversion of DICOM files into searchable metadata and high-definition JPG images, securely stored in a scalable SQL database to ensure data integrity. Authorized personnel can swiftly retrieve and annotate files. The patient’s data is hence automatically combined into a PDF medical report with a pre-built layout and standardized naming conventions, followed by high-quality printing with Canon’s multifunction devices.
Extra care can be provided to patients by leveraging top-notch imaging technology. With the all-rounded Healthcare Surveillance System cleverly detecting intense coughing or accidental falling, health professionals with be instantly notified to provide on-time support to the sick in critical conditions. The solution, on top of that, caringly addresses privacy concerns by providing mosaic or color cover on the captured. With excellent audio-visual analytics in nonpareil devices, healthcare services can be elevated to better care for those in need.
Practical experience sharing and thought-provoking academic exchange are another key part of healthcare, to effectively train future health professionals. The Wearable Livestreaming Solution captures every movement in health treatment with Full-HD video quality while clearly delivering instructions to distant classrooms with superior noise reduction. The entire treatment process is transmitted seamlessly to remote audiences without hassles, enabling real-time practical skill transfer regardless of location. Canon’s pioneering 4K PTZ camera, CR-N Series, with exceptional low-light performance, supports live streaming of high-definition monochrome videos in optimal visibility even in dimly lit environments, such as operating rooms, making it perfectly suitable for surgical simulation and case studies. The wide-angle cameras, equipped with up to 30x advanced zoom lens, play a crucial role in medical conferences by facilitating idea exchange within the medical community across nations. The integration of the CR-N Series into the healthcare industry not only improves procedural accuracy but also promotes collaborative learning.
Safeguard and Stylize your Entrance
Flexible Ways for Authentication at the Doorway
A smart reception safeguards your office from trespassers while impressing valued visitors at first sight. All-in-one Access Control System shapes a high-tech entrance that offers both superior best protection and a strong company image. Module-based readers provide a wide range of access credentials, including Bluetooth, fingerprint, RFID, and PIN, of which the leading Bluetooth technology even allows hands-free authentication by smartly detecting the smartphone in the user’s pocket or handbag. At the age in which smartphone prevails, automated authentication brings extra convenience to staff daily access and, at the same time builds a contemporary corporate image.
Communicate with the Other Side of the Door
Visitor management is another crucial task in reception, which can be facilitated with an advanced Security Intercoms System. Upon arrival of visitors, staff can remotely view and communicate with the guests through a camera-embedded network video intercom, offering video in 5MP high-resolution and instant audio transmission. The camera, on top of that, perfectly serves the surveillance purpose by enabling deep learning-based analysis to identify suspicious people. Canon also offers an all-inclusive mobile application for intercoms, allowing staff to communicate and unlock the door for visitors simply with a smartphone in hand, despite being away from the reception desk. By facilitating hassle-free two-way communication with advanced video analytics, the security intercoms undeniably enhanced visitor experience, surveillance quality, and staff productivity.
ESG-Centric Room Booking System
Since the first mention of Environmental, Social and Governance (ESG) in the 2006 United Nation’s Principles for Responsible Investment (PRI) report, ESG has become a cornerstone of corporate financial evaluation metrics and is poised to remain so for years to come. Canon exemplifies how implementing smart technology aligns harmoniously with corporate ESG strategies. The ESG-centric Room Booking Solution extends its functionalities beyond resource optimization to IoT-based room control. It allows mobile room reservations and check-in authentication with HID, QR code and NFC technology. Leveraging the innovative rTag, the solution also enables remote control and intelligent deactivation of room appliances, such as lighting, projectors, and air conditioners, upon check-in and check-out. This ensures preparedness for important meetings while optimizing energy consumption through an analytic dashboard, thereby fostering the creation of a sustainable workplace.
Comprehensive Cloud-based HRMS
The progression of HRMS drives the evolving role of HR departments within organizations, from focusing on administrative tasks to initiating talent acquisition and development programs in alignment with corporate strategies. The Human Resources Management System automates daily yet repetitive tasks such as attendance tracking, expense claims processing, payroll handling and more, while ensuring strict compliance with multi-country taxation and labor regulations. With its cloud-based architecture, the system ensures reliable access to staff data via mobile applications. Furthermore, an effective compensation plan contributes to desirable behaviors and outcomes; the system integrates advanced analytics and reporting tools that enable HR professionals to make data-driven decisions on compensation management, leading to high employee morale, satisfaction, and performance.
The intelligent Information Management Solution Therefore™ offers OT and e-Leave applications specifically designed for small and medium-sized enterprises. HR professionals can customize the system and calculation methods to accommodate HR policies and employee requests, such as supporting documentation for certain leave types, multiple rates for OT pay, and the flexibility to select multiple records for arranging compensation leave. With regards to approval workflow, staff can easily access the system through the embedded link in intranet or mobile applications, regardless of their location. The system intelligently avoids invalid input with alerts and updates the accumulated hours and leaves balance automatically. Supervisors receive email reminders upon the submission of applications, and the high compatibility system enables one-click approval through Microsoft Teams. In addition to approvals, the HR department can effortlessly sort data within the system, and neatly export the records to Excel for advanced analysis and payroll processing.
Therefore™, on top of that, seamlessly integrated with Canon’s documents scanner to painlessly accelerate digital transformation. With a remarkable scanning speed of up to 140 pages per minute, the OCR technology can swiftly extract the content of scanned document, accurately categorized them with unified indexing conventions and stores them in a systematic folder structure. HR personnel can easily retrieve designated files with multi-dimensional search or full-text search capabilities.
Minimal Effort on All Kinds of Outputs
In a hybrid era where security and cost-efficiency are equally paramount, uniFLOW Online, a cloud-based Output Management Solution, maximizes the utilization of Canon’s multi-function devices (MFD) while centralizing control across a mixed fleet. The solution employs a structure combining cloud and on-premises server, supporting Print Anywhere on any connected MFD, serverless mobile print and direct scan to the cloud. Emphasizing multi-layered security, uniFLOW Online offers various authentication methods, ranging from ID cards to contactless face recognition technology. The data transmission of print and scan jobs is safeguarded by the AES–256-bit encryption. Furthermore, device usage is meticulously tracked at user, department, and corporate levels, which offers highly readable graphical reports. This allows IT administrators to effortlessly monitor the MFDs’ performance and formulate more informed cost management plans.
Monitoring device usage becomes particularly important in public areas or co-working spaces. PayLink – an On-demand Payment Solution supporting cashless transactions on multiple prevalent platforms, including Octopus Card, AlipayHK and WeChat Pay – offers accessibility to real-time job logs and dashboards. This solution makes it ideal for budget control while offering extensive flexibility in shared workspaces.
Employees from diverse functions may find document editing tasks tedious as they contribute little to core responsibilities. Tungsten Power PDF navigates the complexities of document tasks with its user-centric features, empowering employees to focus on what truly matters. Apart from essential capabilities like merging, splitting, editing, and converting documents, its OCR technology swiftly transforms scanned forms into actionable PDFs, creates bookmark navigation, and offers complete searchability. With Power PDF’s markup tool and cloud storage integration, enterprises at all sizes enjoy secure document collaboration without disrupting content integrity, thereby boosting the efficiency of daily practices to a new level.
Canon’s MFDs assist white collar workers to perform efficiently and cost effectively, while our large format printers bring designers’ and photographers’ stunning artworks to life with minimal distortion. Experience timeless quality with the brand-new Canon’s imagePROGRAF PRO Series. The series boasts of LUCIA PRO II 12-colour pigment inks, delivering exceptional color gradation and improved black density on every print. With enhanced light and scratch resistance, vibrant colors and intricate details can be better preserved over time. Smart roll systems and translucent roll are integrated to automate paper feeding and intelligent media handling respectively. With imagePROGRAF PRO Series, professional creators can handily attain an unprecedented standard of print expressions and longevity.
About Canon Hongkong Company Limited
Canon Inc. (TSE:7751 / NYSE:CAJ) was founded in 1937 in Japan. Its predecessor, Precision Optical Instruments Laboratory, produced Japan’s first 35 mm focal-plane-shutter camera “Kwanon” in 1934. From there, Canon Inc. expanded into the photocopying and printing industries, launching Japan’s first plain-paper copier NP-1100 in 1970 and the world’s first inkjet printer BJ-80 in 1985. Through the years, Canon Inc. has acquired in-depth experience in digital imaging product manufacturing, research and development. Pioneering in innovative product development, Canon Inc. holds the most technology patents in the imaging industry. Canon Inc. also makes significant contributions to promote photography. Today, Canon Inc. has a strong global presence, representing one of the most important market players in the imaging, office and industrial product categories. As of 31 December 2023, Canon’s global revenue was US$29.44 billion.
In 1971, Canon Hongkong Co., Ltd. (Canon Hong Kong) was established as one of the first Canon offices in Asia. Canon Hong Kong is a Total Imaging Solution provider, providing professional pre-sales, marketing and after-sales services for all Canon products and solutions in Hong Kong and Macau. With the solely owned subsidiary Canon Business Solutions (Guangdong) Co., Ltd. established in 2018; the company continues to deliver intelligent total business solutions and professional services to Greater Bay Area. Canon Hong Kong adheres to Canon’s corporate philosophy of “Kyosei”, encouraging the company and staff to engage in social, charitable and environmental activities for the community. Implementing an internationally recognized management system, Canon Hong Kong has achieved ISO 9001, ISO 14001, ISO 45001 and ISO 27001 (Canon Digital Production Center) certifications.
For more information about Canon Hong Kong, please visit our website: https://hk.canon.
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/canon-invites-enterprises-to-think-big–the-power-of-future-302214218.html
SOURCE Canon Hongkong Company Limited
You may like
Technology
REWARD ACQUIRES UK’S LEADING HOSPITALITY DATA INSIGHTS COMPANY (HDI) TO ENHANCE COMMERCE MEDIA OFFERING, DELIVERING DEEPER CONSUMER INSIGHTS FOR THE RETAIL SECTOR
Published
4 minutes agoon
November 14, 2024By
Reward completes acquisition of Hospitality Data Insights (HDI), a UK market-leading data insights company and longtime partnerThe acquisition will strengthen Reward’s Commerce Media proposition, enhancing consumer insights capabilities that unlock growth opportunities for global retail partnersThis acquisition follows a period of strong growth for Reward, further bolstered by recent strategic investment from Experian PLC, A FTSE 25 company, solidifying Reward’s position as a leader in Customer Engagement and Commerce Media
LONDON, Nov. 14, 2024 /PRNewswire/ — Reward, a global leader in Customer Engagement and Commerce Media, today announces the acquisition of Hospitality Data Insights (HDI), a prominent UK-based data insights company and trusted partner. This acquisition is set to further elevate Reward’s Commerce Media capabilities, driving enriched consumer insights for retail and bank partners worldwide.
HDI is known for delivering high-quality, independent data solutions to over 100 global and national brands in the hospitality and convenience sectors, including industry leaders McDonald’s, Pizza Express, and Deliveroo. With a focus on high-spend, high-frequency sectors representing over 20% of household spending, HDI strengthens Reward’s capability to deliver significant consumer value, supporting Reward’s commitment to deliver over £2 billion in rewards by 2025.
By combining HDI’s SKU-level data, product range, pricing insights, and consumer sentiment analysis with Reward’s transactional and behavioural insights, the acquisition enhances Reward’s suite of products for retail marketing, performance optimisation, and operational insights. HDI’s extensive sector expertise and talented team of data analysts add further depth to Reward’s offerings, positioning the company for growth as it establishes itself as the preferred marketing and insights partner. This strategic focus aims to help banks and retailers better understand customers while securing a larger share of marketing budgets.
The all cash acquisition reflects Reward’s period of significant growth. The recent strategic investment from Experian PLC has further enhanced Reward’s consumer insights capabilities, integrating new assets like its Mosaic product. Reward has also expanded its international footprint, with new investment directed at scaling operations in key regions such as Europe, the Middle East and Asia.
Effective immediately, Darroch Bagshaw, Managing Director of HDI, will join Reward’s Leadership Team, reporting to CEO Jamie Samaha. While HDI has been primarily servicing its global brands in the UK, Reward and HDI are well-positioned to scale their enhanced capabilities internationally. The combined efforts will start in the hospitality and convenience sectors and move into other high priority spend categories including convenience and grocery.
Jamie Samaha, CEO of Reward, commented: “In today’s fast-evolving Commerce Media landscape, expanding consumer insights capabilities is more critical than ever. This acquisition of HDI marks a transformative step in our journey to deepen our understanding of consumer behaviour and amplify the value we deliver to our customers, banking partners, and retailers. HDI’s diverse portfolio of leading hospitality brands and innovative insight products opens significant opportunities for us to strengthen our retailer relationships in this key sector, all while driving toward our goal of delivering $2 billion in rewards by 2025.”
Darroch Bagshaw, Managing Director of HDI, added: “HDI’s mission has always been to provide market-leading insights to businesses across the hospitality sector using accurate and actionable data. Reward’s endorsement of our services is testament to our aligned commitment to high quality data analytics that drive investment decisions for the world’s largest retailers. We look forward to combining insights capabilities to provide enriched products and services to retailers and greater value to customers.”
ABOUT REWARD
Reward is a global leader in Customer Engagement and Commerce Media, operating in more than 15 markets across the UK, Europe, the Middle East and Asia. Uniquely positioned at the intersection of banking and retail, Reward’s platform combines technology, data insights and digital marketing to deliver personalised products and services that help brands deepen connections with customers.
As businesses strive to better understand and influence customer behaviour, Reward is poised to lead in the fast-growing commerce media space, offering consumer insights that enhance omnichannel experiences, boost sales and build customer loyalty.
Beyond unifying consumer insight and commerce, Reward is on a mission to make everyday spending more rewarding and every interaction count, delivering billions in rewards to customers.
For more information, please visit www.rewardinsight.com.
ABOUT HDI
Hospitality Data Insights (HDI) is a leading UK insights business, providing independent data insight to global and national brands operating in the UK hospitality sector since 2017, supporting over 100 different clients spanning Pubs & Bars, Restaurants & Casual Dining, QSR, Coffee Shops, Delivery, Convenience, Drinks Suppliers & Manufacturers, Investors and Consulting Firms.
HDI turns vast amounts of high-quality data into meaningful products and services that help operators improve their investment decisions, offer development and customer marketing; and help manufacturers sell and support their brands more effectively
Since late 2022, HDI have extended their capabilities into the UK grocery sector, tracking online pricing for 10 national grocers and monitoring customer spending patterns within over 40,000 individual convenience & grocery stores.
Technology
From Pollution to Restoration: The Art of Living’s Powerful Partnerships to Heal Karnataka
Published
4 minutes agoon
November 14, 2024By
BENGALURU, India, Nov. 14, 2024 /PRNewswire/ — On November 11, 2024, The Art of Living Social Projects signed a landmark Memorandum of Understanding (MoU) with Bangalore University, the Environmental Management and Policy Research Institute (EMPRI), and the Department of Forest Ecology and Environment, Government of Karnataka. This marks a powerful new chapter in advancing environmental sustainability and climate action through rigorous research, community-driven initiatives, and participatory governance. Rooted in Gurudev Sri Sri Ravi Shankar’s vision, The Art of Living Social Projects’ methodology is holistic, nature-centred and emphasises hands-on community involvement to create tangible and lasting change.
The organisation brings extensive expertise in programme management and Corporate Social Responsibility (CSR) engagement to the partnership, which aims to address some of Karnataka’s most pressing environmental challenges. At the top of the agenda is an ambitious plan to clean and restore the heavily polluted Vrishabhavathi River, which flows through Bangalore University’s campus.
Reviving the Vrishabhavathi River Through Nature-Based Solutions (NBS)
Traditional approaches to river restoration often fall short when faced with severe pollution, requiring more innovative strategies. This is precisely where the Art of Living Social Projects’ Nature-Based Solutions come into play. Leveraging natural elements like microorganisms, plants, and algae; NBS techniques use bioremediation and phytoremediation to detoxify the water. Microbial communities work to break down pollutants, while specially chosen plants absorb harmful substances.
In addition to these natural detoxifiers, aeration plays a crucial role by oxygenating the water, which helps revitalise aquatic habitats and promotes the overall health of the ecosystem. These initiatives demonstrate the organisation’s dedication to lasting environmental interventions and will be utilised in the restoration of the Vrishabhavathi River.
Tackling Broader Environmental Challenges in Karnataka
The MoU extends far beyond river restoration to addressing other urgent environmental issues such as deforestation, air and water pollution, waste management, and ecosystem conservation. The alliance plans to drive change through joint research projects, workshops, and seminars, offering hands-on training and creating educational opportunities that empower the next generation of environmental leaders.
Bridging Academic Research and Practical Implementation
The MoU draws on the unique strengths of each partner. Bangalore University brings academic depth, while EMPRI contributes expertise in policy research. The Art of Living Social Projects’ extensive experience with large-scale projects and community engagement rounds out this powerful team. The synergy facilitates the implementation of evidence-based plans that are not only effective but also engage the community in enduring practices.
Empowering Communities for Lasting Change
The MoU also reflects a commitment to participatory governance, a principle close to The Art of Living’s ethos. Shared Sri Prasana Prabhu, Chairman of The Art of Living Social Projects, “We believe that sustainability must be rooted in the participatory governance framework. This MoU allows us to deepen our engagement and leverage our resources to empower academia and civil society organisations towards sustainable practices.”
A Model for Environmental Protection
A new standard in environmental governance and action will be set by this collaboration. By bridging academic research with practical, community-driven game plans, it presents a model that could inspire similar initiatives in other regions. As this collaborative effort unfolds, The Art of Living Social Projects, Bangalore University, EMPRI, and the Department of Forest, Ecology, and Environment are poised to make significant strides in tackling Karnataka’s environmental challenges, from cleaner rivers to thriving ecosystems.
Through this landmark MoU, The Art of Living Social Projects, under the inspiration of Gurudev Sri Sri Ravi Shankar, reaffirms its commitment to nature-driven solutions, working towards a future of cleaner water, healthier ecosystems, and stronger communities.
About The Art of Living Social Projects
Inspired by the world-renowned humanitarian and spiritual leader Gurudev Sri Sri Ravi Shankar; The Art of Living is a global non-profit organisation dedicated to peace, well-being, and humanitarian service. Committed to holistic development, The Art of Living champions various initiatives, including water conservation, sustainable agriculture, afforestation, free education, skill development, women empowerment, integrated village development, renewable energy and waste management. Through these multifaceted efforts, The Art of Living strives to create positive social and environmental impact, fostering a more sustainable and harmonious future for all.
Follow: https://www.instagram.com/artofliving.sp/
Post: https://x.com/artofliving_sp
Message: https://www.linkedin.com/showcase/artofliving-sp
Photo: https://mma.prnewswire.com/media/2556631/MoU_Environmental_Sustainability_AOL.jpg
Logo: https://mma.prnewswire.com/media/1979631/AOLSP_Logo.jpg
View original content to download multimedia:https://www.prnewswire.com/in/news-releases/from-pollution-to-restoration-the-art-of-livings-powerful-partnerships-to-heal-karnataka-302304263.html
Technology
CIOs Struggle to Define AI Value For Their Business as They Continue to Invest in New Projects
Published
4 minutes agoon
November 14, 2024By
Tech leaders are divided on whether AI investments should boost productivity, revenue, or worker satisfaction
SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — New research from revenue intelligence leader Gong reveals widely varying viewpoints among CIOs and other tech leaders over how to evaluate the success of AI projects. Surveying over 500 CIOs and heads of IT across the UK and US, the findings illustrate the challenge many businesses face when it comes to strategically implementing AI and the uncertainty in measuring whether those AI investments are paying off.
While over half of CIOs (53 percent) prioritize productivity gains, an equal proportion focus on revenue growth as their key success metrics, with worker satisfaction trailing closely behind (46 percent). This divergence underscores a broader challenge: confusion about where AI can deliver the most business value and a well-defined approach for evaluation.
Key insights from the study include:
Revenue Growth vs. Time Savings: 61 percent of global CIOs believe increased revenue alone justifies AI costs, while 60 percent say that time savings alone will justify costs. Yet, only 32 percent actively measure both, suggesting that many companies still don’t have systems in place to measure and assess the impact on the variables they say matter most.A Growing Interest in Predictive AI: While generative AI attracts much of the buzz around the technology, it is not the clear leader among CIOs in terms of driving value. Fifty-four percent of tech leaders prioritize generative AI, 51 percent prioritize automation, and 31 percent prioritize predictive AI. To capitalize on this discord and deliver value across a broad spectrum, AI models must be tuned to support workflow automation and predictive analytics.Adoption of Domain-Specific Solutions: While nearly three-quarters of tech leaders rely on off-the-shelf large language models (LLMs) as part of their AI investments, 58 percent are utilizing domain-specific solutions. These AI tools are trained on industry- and function-specific data to deliver more precise and measurable results.Security is a Key Obstacle…: Security remains a top priority for 68 percent of tech leaders, but 28 percent admit this is where their AI projects most often fall short.…As is Data Integration: Data integration challenges also threaten project success, with 36 percent of CIOs likely to pause initiatives if implementation complexities arise. Without the right underlying data, AI outputs risk delivering little value or, worse, biased or inaccurate results.AI’s Long-Term Value Persists: Despite mixed measurement strategies, only a small fraction (under 20 percent) cited a lack of provable ROI as a reason to abandon AI initiatives, indicating that most companies continue to explore its potential and long-term value.Smaller companies are more eager to prove ROI: Smaller US firms (250-500 employees) are more ROI-focused, with 40 percent willing to halt projects lacking clear ROI, compared to just 19 percent of larger companies. This suggests that while smaller US firms see the value in investing in AI, they need to focus on initiatives that deliver measurable and immediate returns and have less budget for experimentation. In contrast, larger companies might have more capacity to invest in long-term projects without immediate ROI.
“Over the last two years, the AI hype and pace of innovation has created incredible excitement and confusion for CIOs and tech leaders about its potential and where to focus,” said Eilon Reshef, co-founder and Chief Product Officer, Gong. “But one thing is clear: leaders are pursuing value and exploring different areas across the business where AI can have a transformative impact.”
To learn more about the survey’s findings, read the blog.
Methodology
The research was conducted by Censuswide with 573 CIOs/Heads of IT (aged 25+) in medium and large companies who have purchased an off-the-shelf AI application in the last 2 years across the UK and US (250 and 323 respondents respectively) between October 9 -October 16, 2024. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles. Censuswide are also members of the British Polling Council.
About Gong
Gong transforms revenue organizations by driving business efficiency, revenue growth, and improved decision-making. The Revenue Intelligence Platform uses proprietary artificial intelligence technology to enable teams to capture, understand, and act on all customer interactions in a single, integrated platform. Thousands of companies around the world rely on Gong to support their go-to-market strategies and grow revenue efficiently. For more information, visit www.gong.io.
View original content to download multimedia:https://www.prnewswire.com/news-releases/cios-struggle-to-define-ai-value-for-their-business-as-they-continue-to-invest-in-new-projects-302305064.html
SOURCE Gong
REWARD ACQUIRES UK’S LEADING HOSPITALITY DATA INSIGHTS COMPANY (HDI) TO ENHANCE COMMERCE MEDIA OFFERING, DELIVERING DEEPER CONSUMER INSIGHTS FOR THE RETAIL SECTOR
From Pollution to Restoration: The Art of Living’s Powerful Partnerships to Heal Karnataka
CIOs Struggle to Define AI Value For Their Business as They Continue to Invest in New Projects
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
Peloton Unveils Holiday 2022 Creative Campaign Highlighting How Motivation Transcends Beyond the Workout
These ’90s fashion trends are making a comeback in 2017
Why You Should Build on #NEAR – Co-founder Illia Polosukhin at CV Labs
Whiteboard Series with NEAR | Ep: 45 Joel Thorstensson from ceramic.network
NEAR End of Year Town Hall 2021: The Open Web World, MetaBUILD 2 Hackathon and 2021 recap
Trending
-
Technology5 days ago
CloudOne Digital Appoints Packet Cofounder and Former Equinix Executive Zach Smith to Board of Directors to Drive Growth in Bare Metal and Hybrid-Cloud Solutions
-
Coin Market5 days ago
Trump win drives Bitcoin to $76K, PlanB sets $500K target
-
Coin Market5 days ago
Norway supports MiCA, considers CBDC for financial stability
-
Near Videos5 days ago
Boost Your Yield with Allstake Restaking
-
Near Videos5 days ago
[REDACTED] Day 1 – Reclaim Your Sovereignty
-
Coin Market5 days ago
Vitalik explores potential of ‘info finance’ as ETH tops $3K
-
Coin Market5 days ago
A new Trump administration may boost crypto, but the devil is in the details
-
Coin Market5 days ago
Is Helium mining still profitable?