The 2024 CIO Report from global technology service provider Logicalis UK&I disclosed that 85 per cent of CIOs allocate budgets exclusively for AI development and implementation.

This is undoubtedly a strategic goal for many senior leaders in 2024, as 87 per cent of CIOs reported a significant demand for AI technology within their organisations.

Despite some concerns—72 per cent of CIOs are wary about the challenges of regulating AI use internally, and 64 per cent of business leaders are anxious about AI threatening their core business models—there is a strong embrace of AI's potential.

Logicalis UK&I CEO Neil Eke said: "Our survey demonstrates that CIOs are wholeheartedly adopting the disruption. In contrast to our 2017 report, where CIOs were primarily concerned with operational maintenance, their role in 2024 is much more strategic, progressive, and business-oriented. Digital transformation is giving way to AI innovation, with increased investment directed towards emerging technologies. With AI as the top priority for CIOs in 2024, it's unsurprising that many actively seek ways to integrate such capabilities into their businesses."

In 2024, CIOs must navigate major disruptive forces, including the rise of AI, advancing security threats, global economic volatility, and the pressing need for climate action—all of which overturn the established order and introduce a new array of leadership challenges.

Cybersecurity findings from the CIO Report include:

• 83 per cent of CIOs reported experiencing a cyber hack in the past year.
• Less than half (43 per cent) believe their business is fully prepared to handle another major security breach.
• Malware and ransomware (41 per cent) pose the most significant risks to organisations in the next 12 months, with data breaches (36 per cent) and phishing attacks (35 per cent) also identified as substantial threats.

Logicalis UK&I Security and Cloud Business Unit Director Mike Fry said that the widespread availability of sophisticated AI models, including to cybercriminals, may account for the high number of cyber hacks reported by CIOs.

“Additionally, a skills shortage in the IT industry, particularly in cybersecurity, is leading to overburdened IT teams facing increasing incidents and alerts. The deployment of AI by threat actors will become one of the most significant security threats. However, if utilised properly, AI offers the best chance for defence. Organisations should aim to implement security systems that harness AI technology to stay ahead. Integrating AI into Security Operations Centres and deploying AI-enhanced threat detection can tip the scales in our favour when it matters most."

CIOs must navigate the deluge of data, a task that 80 per cent of technology leaders find challenging. This lack of clarity consumes time and hinders the discovery of opportunities to reduce costs, enhance services, and deliver maximum value to the business.

No single company can address these challenges in isolation, so it's heartening that nearly all respondents recognise the importance of collaboration and the value of assessing the sustainability credentials of new suppliers.