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Technology sector outlook improved

The adoption of corporate strategies focused on generative artificial intelligence (GenAI) led to a recovery in confidence.

Despite a difficult start for the technology sector last year amid macroeconomic pressure and the need to save costs, the adoption of corporate strategies focused on generative artificial intelligence (GenAI) led to a recovery in confidence.

The integration of GenAI into digital transformation strategies is included for the first time among the emerging opportunities for the industry, occupying the first position for 2024, according to the latest edition of EY’s annual report, Top 10 opportunities for technology companies in 2024.

According to the report, most organizations (90%) are still at an early stage of maturity in leveraging artificial intelligence. EY urges companies to create an “AI control tower” to support the safe and ethical development of this technology, putting people at the center.

Based on the report, the ability to experiment with GenAI in front-office and back-office functions is another emerging opportunity. The report stated that technology companies should focus on use cases with high impact and value, which create opportunities for transformation.

Examples include, the use of GenAI in software coding (front-office) and the development of artificial intelligence solutions to attract and retain human resources (back-office).
According to 65% of tech CEOs surveyed, their organization must immediately mobilize to leverage GenAI to maintain a strategic advantage over the competition.

Top 10 Opportunities for the Tech Industry:

-Integrating GenAI into digital transformation strategies and creating an “AI control tower”

-Experiment with GenAI for targeted front-office and back-office use cases

-Investments in new forms of digital infrastructure (e.g. edge computing)

-Creating additional supply lines in emerging markets

-Shaping a corporate investment strategy around the AI development roadmap

-Leverage new business models for the industrialization and scale-up of advanced technologies

-Planning procedures for preventive and holistic management of new and future tax burdens

-Prioritizing the energy efficiency of data centers, among initiatives and actions for the environment

-Investing in advanced risk management tools and re-examination of the balance between costs, risks, resilience and agility

-Using advanced technologies to address current and future cyber threats.