Looking back to 2021, 5G drew the highest average investment in 2021, with survey respondents reporting an average of $465,000 invested in the technology. This was followed by IoT at $417,000 and edge technologies (i.e., edge AI and edge computing) at $262,000.
The edge architecture is allowing AI to become more actionable. Moving AI inferencing closer to the point of data generation is making the edge more intelligent, which is improving decision-making within organizations and data-driven outcomes. In conducting AI inferencing on the edge, the data is processed in real time to generate actionable insights for decision-makers.
It makes sense that among the reasons organizations are using edge technologies and 5G are to improve employee productivity, augment existing products and services by making them more connected and intelligent, and automate business processes. Asset intensive industries such as manufacturing, natural resources and energy are among the early adopters of ET to solve core business problems.
It’s interesting to note that the decisions to invest in these emerging technologies (ET) no longer solely rest with IT. The survey showed that Boards of Directors are among the main decision makers for ET investments in over half of surveyed organizations, just behind CIOs and CTOs, signaling that the business has more confidence in the ROI these technologies bring.
In fact, counter to conventional thinking, most survey respondents reported that ET investments are meeting or exceeding user expectations. When enterprises are choosing between two vendors’ ET offerings, the vendors’ ability to provide demonstrable use cases and a track record of success ultimately clinches the win. Product managers should look to focus on these success stories and ensure short deployment/ implementation timelines when targeting business users to adopt ET.
Gartner surveyed 500 global respondents from mid-sized and larger organizations in September and October 2021 to understand buying behavior when investing in emerging technologies.