Investment in AI a top priority for business leaders

Automation and AI seen as critical drivers of productivity, sustainability and business growth.

Business leaders in Ireland expect to invest an average of nearly €1m on IT in 2023, with the average IT budget for 2023 expected to come in at €988,726.

That’s according to tech firm Auxilion’s latest survey of 100 C-suite executives in larger companies or enterprises (more than 250 employees) across Ireland.

“Organisations are planning to invest more in IT and are open to implementing new technologies to shape the modern workplace”

Carried out by Censuswide, the survey found that while the average IT investment looks set to rise this year, almost half (49%) of respondents are more hesitant due to economic uncertainty.

However, investment appears to be much needed given that 31% don’t think their organisation is equipped with the necessary processes and tools to support the modern workplace. The leading aims of workplace transformation were revealed as increasing productivity (36%), driving business growth (32%), and improving sustainability (31%).

In terms of the main investment areas for 2023, these will be Artificial Intelligence (AI), cloud infrastructure, and IT service desk – each 28% respectively. 22% of business leaders are also prioritising spending across hybrid working technologies, green technology, robotic process automation, and collaboration platforms.

While companies are continuing to develop the modern workplace, hybrid working models are also being reviewed. In fact, 45% said they are planning to reassess their company’s hybrid working model in 2023 and 35% are considering moving to a four-day working week in 2023.

Perhaps this is unsurprising with 45% of business leaders also admitting that the new world of work brings a new level of pressure to their role. Moreover, some 40% do not believe that employees are coping well with the blurred boundary between work and home life which comes with hybrid working.

Commenting on the results, Auxilion CEO Philip Maguire said: “The past number of years have been challenging for many companies and it’s understandable that business leaders might have started 2023 off being somewhat hesitant with their budgets. However, it’s positive to see that organisations are planning to invest more in IT and are open to implementing new technologies to shape the modern workplace.

“With businesses looking to further digitally transform and modernise their operations, while also adapting workstyles and patterns, there has been a shift in the provision of managed services enabling greater automation and creating more self-sufficiency,” said Philip Maguire, CEO of Auxilion.

“In turn, this will see operations streamlined, people supported, and businesses grow. It will also support innovation and sustainability, which are crucial for the modern business leader.

“While every organisation is different and has specific objectives, all business leaders need to carefully plan their investment in technology. Working with a trusted provider can help on this front in terms of identifying the right solutions and services – from cloud to collaboration – to overcome challenges and capitalise on opportunities.”

Main image at top: Philip Maguire, CEO, Auxilion

John Kennedy
Award-winning editor John Kennedy is one of Ireland's most experienced business and technology journalists.



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