Security and AI are topping business spend as companies look for effective boosts

Date:
Thu, 28 Nov 2024 13:00:00 +0000

Description:
Connectivity is proving vital for companies to get the most out of their security and artificial intelligence investments.

FULL STORY ======================================================================GSMA report claims cybersecurity spend set to rise by the end of the decade Unsurprisingly, 5G is set to get 2.5x more investment than 4G by 2030 Telcos need to help enterprises undergo digital transformations

Most enterprises are not reacting to tough economic conditions by cutting costs, but rather theyre looking to boost revenue, new research has claimed.

A new GSMA report has said three-fifths of firms are now prioritizing revenue growth, customer experience and competitive positioning to help grow their companies rather than make reactive decisions to reduce costs.

But the study also found cybersecurity is at the top of many companies lists, with investments set to continue growing long-term. Companies are investing
in future growth

The report noted enterprises are planning to allocate a considerable 9% of their revenue during 2024-2026 to cybersecurity, with that figure climbing
two percentage points to 11% during 2027-2030.

Besides increasing security, enterprises have also expressed a commitment to investing in artificial intelligence and improving their connectivity.

Most (85%) now see 5G networks and connectivity as important, with an average of 21% of digital transformation budgets set to be earmarked for connectivity
13% for mobile and 5G and 8% for fixed and Wi-Fi. Between 2024 and 2030, investment in 5G is expected to be 2.5x great than in 4G, with high mobility sectors like automotive, transportation, logistics and warehousing driving much of this investment.

Finally, AI spend is set to continue as companies seek productivity and efficiency boosts. It already makes up for 14% of enterprise technology expenditure, with 90% of companies having incorporated the tech in some form, however the scope for growth is tremendous given that only one-third are
using it in advanced ways.

Telcos need to go beyond just providing network services since enterprises
are increasingly looking for partners who can help them throughout their full digital transformation journeys, combining technologies such as 5G, AI, IoT and cloud to improve efficiency, security and drive revenues," noted GSMA Intelligence Head of Research Pablo Iacopino. You might also like Going full-fibre on UK broadband could net the country billions Weve listed the
best AI writers Check out the best cloud hosting providers



======================================================================
Link to news story: https://www.techradar.com/pro/security-and-ai-are-topping-business-spend-as-co mpanies-look-for-effective-boosts


--- Mystic BBS v1.12 A47 (Linux/64)
* Origin: tqwNet Technology News (1337:1/100)