According to a new report released on Tuesday, the technology sector is adopting a democratized approach to artificial intelligence (AI), allowing for more experimentation and flexibility globally, while many other businesses are going towards a centralized model.

A KPMG International study found that 36% of tech leaders claimed they are still creating AI governance guidelines and promoting creative AI practices in their companies. Based on a poll of 2,450 CEOs from 26 countries, including 490 technology leaders, the report emphasized that a structured strategy will be necessary for the successful application of AI.

This entails risk assessment, cross-functional cooperation, and ongoing learning to optimize AI’s advantages while reducing any possible hazards.

In addition to AI, the research emphasizes how the technology industry is spearheading industry-wide digital transformation. It asserts that in order to stay ahead, the tech sector needs to reconsider its own tactics in addition to leading by example. Technology companies have maintained their growth despite market uncertainties thanks to strategic investments and methodical decision-making.

“With technology rapidly evolving, designing and building solutions in a responsible way is now more important than ever,” said Atul Gupta, KPMG India.

Additionally, he said, it can lessen the likelihood of data breaches and the necessity for expensive security patch retrofits. The growing emphasis on profitability is one of the report’s main conclusions.

More and more tech workers think that in the last two years, digital innovations—especially in AI, data analytics, cybersecurity, and contemporary service delivery models—have greatly enhanced their company’s financial success.

Furthermore, 76% of tech executives stated that they precisely weigh the advantages and disadvantages of new technologies before making an investment. The growing significance of environmental, social, and governance (ESG) objectives in technological investments is also clarified by the report.

Approximately 73% of tech executives stated that their investments are closely related to goals for social responsibility and sustainability. Additionally, while making investment decisions, tech companies are paying attention to employee input.

According to the report, establishing robust security measures and guaranteeing data protection are crucial priority in fostering consumer trust as part of their ESG pledges.