For CIOs, the last few years have been incredibly challenging. Budgets for security and running the business were increased to facilitate remote work during the pandemic. These same budgets were then brought back down at the onset of the economic downturn in late 2022. These budget decreases have continued in 2023, leaving CIOs with little wiggle room for large investments in AI.
Unfortunately, innovating, developing or canada whatsapp number data modifying generative AI technologies for organizations cannot be conflated with budgetary pressure as the time is now to build a foundation of AI knowledge within enterprises. From embedding AI within products, using AI tooling to improve speed in solving customer issues, or leveraging copilots to complement engineering efforts, the possibilities for AI are endless for those willing to invest in them early.
IT asset management (ITAM) and FinOps tools can be used by the organization to reduce its budgetary “run the business” spend to fund investment in AI. ITAM and FinOps tools help CIOs to reduce spend in their organization – unused licenses, SaaS sprawl, unnecessary cloud spend, and other forms of waste.