- Half of businessmen will increase IT investments this year, UBS finds
- Many are concerned about higher taxes and geopolitical uncertainty
- Europeans among the most likely to increase AI and IT spending
The new data of the UBS Global Entrepreneur report have revealed that the technology startup and the world of small businesses are in a healthy place, with three out of five (61%) feeling optimistic about the prospects of their industries this year.
The news occurs when more entrepreneurs seek to invest in expansion, with investments in people and acquisitions in the cards for many.
That said, it is also said that technology is a key approach to entrepreneurs, and the report that finds almost half (45%) expects investment in AI infrastructure, applications and/or models, exceeding personnel investments.
Entrepreneurs are growing their businesses and investing more
Three out of five (62%) are now seen the AI that offers the greatest commercial opportunity for their industries, with two thirds (67%) that will lead to better productivity for a typical company in its industry at the end of the decade. Almost half (47%) plan to increase it and digital transformation expenses in the next 12 months.
However, entrepreneurs continue to exercise a cautious approach, and many cite political uncertainty and/or instability (53%), higher taxes (42%) and the main geopolitical conflicts (42%) as concerns only in the next anus.
In addition, UBS revealed some key differences worldwide: European businessmen plan to increase AI and IT spending, with the digital transformation that arises as key approach areas; while respondents in the Americas will focus on personnel investments. Those located in Asia-Pacific and also Switzerland will focus on both strategic acquisitions and in the growth of IT/IA.
The report also discovered a greater optimism of industry perspectives in the Americas (71%) compared to Europe (52%), Switzerland (50%) and Asia-Pacific (59%).
When analyzing how entrepreneurs perceive their industries, UBS hopes to understand the effects of global pandemic and geopolitical conflicts on economic growth.
The head of strategic clients, Benjamin Cavalli concluded: “This report captures the collective knowledge of some of the brightest commercial innovators with whom we have the privilege of working and highlights their ideas about the topics of their industry’s perspectives to their plans of businesses on a short -term horizon, and until the end of the decade. “
