7 out of 10 CEOs globally are planning to invest in GenAI in 2024

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New Delhi. Nearly 7 out of 10 CEOs globally are planning to invest in Generative Artificial Intelligence (GenAI) this year. This information came to light in a new report on Tuesday.

According to Netcore Cloud, a global software-as-a-service (SaaS) company, GenAI is emerging as a top investment priority, with CEOs expecting solid benefits within the coming three to five years.

The report suggests that consumers’ preferences are strongly tilted towards short-form video content and convenient and instant transactions.

With reports showing 90 percent of consumers are convinced by video in their product decisions, industry leaders are embracing influencer marketing, leveraging short videos to shine the spotlight on their product lines.

Nearly 89 percent of consumers revealed that watching a video weighs in when making a decision on a product or service.

Additionally, the report said users actively explore brands and products on Instagram, making it the platform’s second most engaging activity, attracting 62.2 percent of its users.

Similarly, 65 percent of users on TikTok trust online reviews and creator recommendations for online purchasing decisions.

“As we move into a future dominated by AI and automation, understanding these trends becomes critical for any marketer,” said Mahesh Narayanan, Chief Marketing Growth Officer, Netcore Cloud.

Additionally, the report mentions that as users’ preferences for different channels are gaining importance, companies adopting strong omnichannel engagement are poised to achieve annual revenue growth of up to 9.5 percent.

–IANS

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