NEC Unveils New AI Strategy: 40% Growth Predicted
NEC Predicts 40% Growth in AI Business by 2024
TOKYO – NEC Corporation projects a 40% increase in its AI business by fiscal year 2024, driven by increased demand for AI solutions in various sectors. This ambitious growth target is based on the company's strategic focus on AI since 2019, accelerated by the COVID-19 pandemic in 2020. NEC aims to achieve this expansion through a significant increase in "Face to Face" interactions, representing a 40% growth in direct client engagement.
NEC's commitment to AI is long-standing, with a strategic plan outlined in 2021 targeting a 50% increase in AI-related revenue by 2025. This plan incorporates a shift in business strategy, focusing on direct client interaction to better understand individual needs and tailor AI solutions. This personalized approach, including face-to-face meetings, is central to the company's growth strategy.
The 40% growth projection is not arbitrary; it’s informed by market analysis and internal projections. The company anticipates a substantial increase in demand for AI solutions across various industries, and its enhanced client interaction strategy is designed to capture this opportunity. This strategy includes increased face-to-face meetings with clients, enabling NEC to gain deeper insights into their needs and develop more effective AI solutions.
To support this expansion, NEC is investing in workforce development and restructuring. The company currently employs around 7,000 engineers, and it is actively recruiting additional personnel to meet the growing demand. The company is also enhancing its internal communication and collaboration, including implementing "Voice of Employee" surveys, to foster a more effective and responsive work environment. These internal initiatives aim to ensure NEC is well-positioned to execute its ambitious growth plan. The company acknowledges the challenges involved but believes its robust strategy and dedicated workforce will drive the projected success.
TOKYO – NEC Corporation projects a 40% increase in its AI business by fiscal year 2024, driven by increased demand for AI solutions in various sectors. This ambitious growth target is based on the company's strategic focus on AI since 2019, accelerated by the COVID-19 pandemic in 2020. NEC aims to achieve this expansion through a significant increase in "Face to Face" interactions, representing a 40% growth in direct client engagement.
NEC's commitment to AI is long-standing, with a strategic plan outlined in 2021 targeting a 50% increase in AI-related revenue by 2025. This plan incorporates a shift in business strategy, focusing on direct client interaction to better understand individual needs and tailor AI solutions. This personalized approach, including face-to-face meetings, is central to the company's growth strategy.
The 40% growth projection is not arbitrary; it’s informed by market analysis and internal projections. The company anticipates a substantial increase in demand for AI solutions across various industries, and its enhanced client interaction strategy is designed to capture this opportunity. This strategy includes increased face-to-face meetings with clients, enabling NEC to gain deeper insights into their needs and develop more effective AI solutions.
To support this expansion, NEC is investing in workforce development and restructuring. The company currently employs around 7,000 engineers, and it is actively recruiting additional personnel to meet the growing demand. The company is also enhancing its internal communication and collaboration, including implementing "Voice of Employee" surveys, to foster a more effective and responsive work environment. These internal initiatives aim to ensure NEC is well-positioned to execute its ambitious growth plan. The company acknowledges the challenges involved but believes its robust strategy and dedicated workforce will drive the projected success.
