AI takes the lead as top investment priority for enterprises in 2024

In a major shift, artificial intelligence (AI) has emerged as the top investment priority for enterprises in 2024, outpacing both security and cloud deployment. A recent survey by industry analyst firm IDC, sponsored by Lumen, reveals that 73% of midsize and large enterprises are either currently utilizing AI or plan to do so within the next 12 months to enhance customer engagement. Large enterprises are leading this charge, with 81% of companies with over 5,000 employees adopting AI, compared to 67% of midsize companies (500-4,999 employees).

As AI continues to revolutionize customer engagement, several industries are at the forefront of implementation including manufacturing (84%), financial services (78%), technology/software/gaming (77%), healthcare (68%), and retail (67%).

Beyond investing in AI infrastructure to harness valuable data, respondents are zeroing in on three pivotal areas to propel their digital transformation efforts:

• Cloud services for on-demand provisioning and elastic scaling.
• Security solutions to protect data across cloud and edge locations.
• Network enhancements for multi-cloud connectivity and ease of use.

Lumen is reshaping the way organizations drive their digital transformation and AI initiatives by providing seamless digital experiences, lightning-fast connectivity, and cutting-edge cybersecurity solutions. Services include:

• Private Connectivity Fabric^SM: The dramatic rise in AI innovation is spurring explosive growth in data center buildout. To respond to this increased need for data center connectivity, Lumen has created Private Connectivity Fabric. This custom network solution includes dedicated access to existing fiber in the Lumen network, the installation of new fiber on existing and new routes, and the use of Lumen’s digital services to meet AI’s high bandwidth needs.
• Network-as-a-service (NaaS): AI is driving new demands for network connectivity. Enterprises need solutions that provide flexibility and allow them to scale initiatives quickly. Lumen^® NaaS delivers cloud-based network functions and services on demand delivering agile bandwidth, low latency, edge computing, redundancy, and a self-service reconfigurable fabric.
• High-capacity cloud connectivity: As enterprises increasingly invest in AI, they will require multi-cloud ecosystems and scalable bandwidth for data to be sent to and from the cloud to support their AI initiatives. Lumen provides high-speed, scalable, enterprise-grade connectivity, including dedicated internet access, high-speed IP, and Ethernet services. These services are designed to meet the demanding requirements of large-scale cloud operations.
• Cybersecurity: As enterprises roll out AI initiatives, they need robust security solutions to help protect valuable data. Lumen Defender^SM uses Al and machine learning to proactively block threats at the network level before they can compromise a business’s network.

Hear from Courtney Munroe, Research Vice President, Worldwide Telecommunications Research with IDC:

Survey Highlights:

• Survey respondents include 823 IT and business decision-makers at companies with a minimum of 500 employees across eight industries in the U.S.
• Industries include financial services/banking; healthcare; manufacturing; retail; technology/software/gaming; media/entertainment/music; federal government; and public sector.
• The survey was designed to gauge the advancement in technology deployment and address the challenges in digital and network transformation and the benefits that cloud solutions provide.

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