What: Deloitte believes that there is more than AI for CEOs and they should make sure to focus their attention on other topics.

Why it is important: AI is great… when the retail basics are already mastered and good.

Deloitte's annual Tech Trends report suggests a balanced approach to adopting AI in business, cautioning against overemphasis on this technology at the expense of other critical areas. The report acknowledges AI's potential but warns of the risks associated with poor data quality, potentially leading to amplified errors and biases. Deloitte advises companies to focus first on their strategic goals before determining how AI or other technologies can be used to achieve these objectives.

Additionally, the report highlights the evolving relevance of AR and VR in the workplace, noting improvements in network speeds, processor capabilities, and battery life that make these technologies more viable. It also points out the expanding application of AR and VR beyond gaming to practical workplace uses, such as in industrial settings.

A key concern outlined in the report is cybersecurity. As technology integrates more deeply into business operations, the threat from cybercriminals, including the use of deepfakes and phishing, grows. Companies are encouraged to employ advanced technologies themselves to counter these threats.

Overall, while bullish on AI, the report emphasizes a cautious, holistic approach to technology adoption, considering both its potential and its pitfalls.

Deloitte’s chief futurist warns against letting AI blind CEOs to other priorities