Publication date: 12 Dec 2023
IDC Predicts that GenAI-Powered Skills Development Will Drive $1 Trillion in Productivity Gains by 2026
Dubai – In a business landscape where productivity and revenue growth stand at the forefront of organizational priorities, the role of generative AI (GenAI) is taking center stage. International Data Corporation (IDC) foresees a major paradigm shift taking place, with 35% of enterprises worldwide using GenAI to co-develop digital products and services by 2025, potentially doubling their revenue growth compared to their competitors. And as this adoption accelerates, IDC predicts that the implementation of skills development powered by GenAI and automation will enable organizations to drive $1 trillion in productivity gains worldwide by 2026.
The pivotal question arises: what will customers prioritize as they build their GenAI road maps? The responses to a recent global C-suite survey carried out by IDC suggest that much of the focus over the next 18–24 months will be on driving productivity improvements, especially in relation to the sales, IT, and finance functions. Indeed, over 50% of the respondents emphasized that productivity gains are the most important business outcome they are targeting for the next 18 months.
In 2024, GenAI tools will enable senior leaders to double the productive use of unstructured data by uncovering untapped insights and knowledge. But Jyoti Lalchandani, IDC's group vice president and regional managing director for the Middle East, Türkiye, and Africa (META), expects priorities to evolve as organizations broaden their sights beyond productivity.
"For most organizations, it is easy to develop hundreds of productivity use cases around GenAI, but many are already questioning whether they are over-pivoting on cost reduction and not focusing enough on how GenAI can help them to grow their revenues," says Lalchandani. "We expect the emphasis on productivity gains to give way to revenue growth outcomes in the next 3–5 years, with sales, IT, finance, operations, and supply chain functions all reporting revenue growth expectations from GenAI. Providers must track this shift carefully with their core buyers to ensure that their GenAI solution offerings continue to align with the evolving business goals of their customers."
IDC will explore the challenges and opportunities presented by the ongoing AI revolution as it hosts the META region's most influential technology vendors, telecommunications operators, and IT service providers at IDC Directions 2024 Middle East, Türkiye & Africa. Taking place on February 1 at The Ritz-Carlton, Dubai International Financial Centre, this in-person event will address the theme 'Preparing Your Customers for an AI Everywhere Future'.
IDC Directions 2024 Middle East, Türkiye & Africa will drive an unparalleled exchange of ideas. Respected local and global IDC analysts will present their latest forecasts and predictions as they assess the impact of global trends on the local environment. And distinguished experts will delve into the latest advancements within key countries and industries across the META region. This comprehensive exploration will include insights into critical technologies such as cloud, security, AI, RPA, and IoT, providing attendees with valuable information to identify opportunities for future growth.
Designed to equip tech vendors, resellers, regulators, and service providers with critical insights, outlooks, and predictions, IDC Directions 2024 Middle East, Türkiye & Africa promises essential guidance on navigating the tech industry's evolving AI-fueled landscape. Attendees will also be able to customize the day's agenda to meet their own specific requirements, choosing from a range of intricately tailored sessions hosted by IDC experts as they shine a spotlight on the key trends shaping ICT investments in their respective territories.
To learn more about IDC Directions 2024 Middle East, Türkiye & Africa, please contact Sheila Manek at email@example.com or on +971 4 446 3154. You can also join the conversation on social media using the hashtag #IDCDirectionsMETA.
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.
IDC in the Middle East, Türkiye, and Africa
For the Middle East, Türkiye, and Africa region, IDC retains a coordinated network of offices in Riyadh, Nairobi, Lagos, Johannesburg, Cairo, and Istanbul, with a regional center in Dubai. Our coverage couples local insights with international perspectives to provide a comprehensive understanding of markets in these dynamic regions. Our market intelligence services are unparalleled in depth, consistency, scope, and accuracy. IDC MEA currently fields over 130 analysts, consultants, and conference associates across the region. To learn more about IDC MEA, please visit www.idc.com/mea. You can follow IDC MEA on Twitter at @IDCMEA.