Publication date: 11 Dec 2023
IDC EMEA FutureScape 2024: Reimagining an AI Everywhere Digital Future
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For more information, contact:- Marco Tennyson (mtennyson) Email: mtennyson@idc.com Phone number: 0039 022845370
MILAN, December 11, 2023 — In a webcast today, International Data Corporation (IDC) presented its Europe, the Middle East, and Africa (EMEA) ICT market predictions for 2024 and beyond.
IDC predicts that digital spending in the EMEA region will record a significant surge, growing at four times the rate of GDP in 2024, a trend indicative of the seminal transformation currently reshaping the regional economy. This evolution marks the dawn of what IDC defines as the "AI Everywhere" chapter in the digital business era, reflecting a new phase where artificial intelligence becomes a pervasive and integral part of business operations and strategies.
Propelled by the rapid ascent and sophisticated integration of generative AI (GenAI) technologies, this pivotal shift is seeing organizations reimagine how they leverage data for their product evolution, service delivery, and customer engagement initiatives, unleashing new use cases and accelerating the journey to business results. According to the recent IDC EMEA Emerging Tech Survey, 72% of EMEA organizations are either using or planning to use AI in the next two years, underscoring the substantial impact of this technology and the activity it is generating in the region.
As companies chart their course through this new landscape, IDC highlights the strategic imperative for leaders across the IT industry to recalibrate their operational blueprints and remain at the vanguard of this AI-centric evolution.
“AI Everywhere acceleration is leading to a full reimagination of the way technology impacts organizations’ productivity, value creation, innovation, and responsibility,” said Giulia Carosella, IDC EMEA Digital Business Practice lead.
As AI Everywhere emerges, other external drivers are also set to have a significant influence the next 12-24 months and beyond. IDC’s key predictions in the EMEA ICT market include:
AI Everywhere: By 2026, 85% of the connected population in EMEA will actively benefit from GenAI in their daily lives, by experiencing improved quality of life in areas such as physical health and mental wellbeing.
AI Budget: By 2025, the digital budget share of AI in EMEA organizations will grow by 40%, leading to an additional $30 billion in net new spending.
C-Suite Reaction: In 2024, 40% of CIOs in EMEA organizations adopting AI will team up with line-of-business CxOs to ensure a clear ROI on prioritized use cases, as part of a responsible AI strategy.
Reimagining Productivity: By 2025, 45% of large EMEA organizations will use GenAI to augment process automation, doubling desk worker productivity and freeing up time to focus on higher-value activities.
Reimagining Value Creation: By 2026, 70% of large EMEA businesses will achieve real-time decision-making by leveraging an AI-driven single view of the customer, increasing the customer lifetime value by 50%.
Reimagining Innovation: By 2026, 50% of EMEA organizations will use GenAI to augment human creativity in product and service co-design, accelerating time to market for new product and service releases by 2X.
Reimagining Responsibility: By 2025, CIOs in at least 60% of large EMEA organizations will have components of their compensation package tied to environment, social, and governance (ESG) targets.
“For organizations to take advantage of these new opportunities, creating an intelligent architecture that is supported by a cost-effective digital infrastructure and relevant capabilities is a priority,” says Andrea Siviero, IDC EMEA research director. “At the same time, this journey raises ethical and trust-related questions that purpose-driven organizations need to prepare for.”
An on-demand replay of IDC EMEA FutureScape 2024 webcast is available at this link. For additional information, please contact Marco Tennyson.
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.