Almost all CEOs want AI, but only 1 % is fully prepared
Cisco, the world's leading provider of network and cyber security solutions, reveals a paradox among CEOs in Europe in its latest study: Although 87 percent are well aware of the benefits of AI for their company and 97 percent plan to integrate AI into their business processes. On the other hand, a total of 69% are concerned that gaps in knowledge about AI are hindering decision-making at the boardroom level.
The European participants in the Cisco CEO study also fear a loss of growth (56 %) and reduced competitiveness (51 %) due to a lack of AI skills. "The study shows the urgent need for action in the AI age. We must now get down to concrete implementation," says Christopher Tighe, CEO of Cisco Switzerland. "Future-proof and resilient networks as well as AI-specific expertise will become a decisive success factor for Switzerland."
CEOs fear the rising costs of inaction
In fact, only 1% of respondents feel fully prepared for AI. According to the study, 69 percent of European CEOs fear losing ground to the competition and missing out on opportunities due to insufficient IT knowledge and infrastructure gaps. This is already reflected in real losses. 48 percent of European CEOs (53 % worldwide) are concerned about missed opportunities due to a lack of investment in new technologies. 74 percent fear missed opportunities due to outdated network infrastructures and 46 percent fear that gaps in the infrastructure are costing them competitive advantages.
AI transformation goals can only be achieved with partners
Despite all the challenges and fears, the study also shows the objectives with which CEOs in Europe want to benefit from AI: They want to increase efficiency (61 % vs. 69 % worldwide), drive innovation (60 % vs. 68 % worldwide) and outperform the competition (55 % vs. 54 % worldwide). The respondents still see the following hurdles to achieving this: Skills shortages (34 %) lack of application scenarios (33 %), infrastructure gaps (32 %) and IT security risks (31 %).
Oliver Tuszik, President Cisco EMEA, also categorizes the results: "Companies need to reinvent themselves if they want to exploit the potential of AI. They then increase their pace of innovation, simplify their processes and adapt to digital changes. However, this cannot be achieved single-handedly. That's why 95% of CEOs rely on trustworthy partners."
CEOs are relying on outside help to implement their plans: 95 percent are turning to trusted partners to future-proof their corporate network for AI, according to the Cisco study.
Knowledge, infrastructure, security
When asked what steps they need to take to prepare for their AI projects, 53% cite expanding their data capacities. They also need AI-specific knowledge (51 %), an improved network infrastructure (49 %), training for their staff (46 %), investments in data centers (44 %) and enhanced security measures (41 %). In an international comparison, the focus is slightly different, with investments in knowledge (61 %) taking first place, followed by data capacities (55 %), networks (53 %), training (51 %) and security (49 %).
Implementation requires clear technological decisions - both internally and in partnerships. European CEOs are increasingly relying on their CTOs and CIOs, with 75 percent (80 % globally) recognizing their important role in new technology investment decisions. Technology decision-makers, who see modern networks and technologies not just as tools but as drivers of growth, resilience and innovation, are increasingly taking on executive-level roles (80 %).
