Embracing new technologies is no longer just about doing things better, faster, and cheaper. It now has implications on survival and growth in a new business reality. Emerging technologies are transforming every industry, requiring legacy businesses to radically reinvent themselves—faster than they ever imagined.

The COVID-19 pandemic has reinforced the importance of driving enterprise transformation using technology as an enabler. Emerging technologies which enable automation, artificial intelligence, powerful computing, connected devices and equipment, massive data transfer, collaboration, and business resilience are heroes in these turbulent times, helping enterprises recover from initial impacts of COVID-19 and set a strong foundation for the future.

Enterprise reboot, a new report by KPMG International and HFS Research, provides data and research on driving tangible value from emerging technologies in this new reality. Based on two global surveys of 900 technology executives in 9 countries including Australia from across a range of business sectors the report draws on insights to uncover the current and future state of emerging technology adoption, explores the challenges of value realisation, and reveals how organisations can fully capitalise on technology’s promise.

Key Australian findings

  • The average spend/investment specifically assigned to disruptive technology is about the same as the Global average. The expected growth is slightly higher. 
  • Enterprises in Australia clearly see the importance of technology investment and are spending more than the global average in key areas such AI, blockchain and edge computing.
  • The biggest issues preventing technology initiatives delivering value in Australia are culture/change issues, the need to build business cases and concerns about the risk of failure.
  • Australian respondents are driven to emerging technology because it is seen as essential to business survival, at least compared to global data. They are driven by a desire to improve decision making and customer experience. Cost reduction was a secondary driver for investment for the Australian respondents. 
  • Australian respondents are further away from seeing value from emerging technologies — particularly in 5G and edge computing compared with organisations in the rest of the world (Canada, France, Germany, India, Japan, the Netherlands, the UK, and the US).
  • There is mixed maturity for cloud with lower maturity for containerisation and hybrid cloud generally, but more interest in microservices. 
  • There is also mixed maturity for data platforms and analytics — areas with advanced use of insights yet the majority of respondents stating the need for further investment in enterprise data platforms.

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Embracing new technologies is no longer just about doing things better, faster, and cheaper.

Download the 2020 global report to learn more about:

  • Business priorities have shifted overnight: Fifty seven percent of executives say COVID-19 has significantly changed their organisation’s strategic priorities.
  • Spending cuts for enabling technologies are likely short term: Executives expect to increase spending across nearly all technology areas in the next 12 months.
  • The power of AND is greater than the power of OR: Sixty four percent of executives believe that the combined use of emerging technologies is much more beneficial than using any of the technologies in isolation.
  • With higher investments come more realised value: More than 80 percent of companies are investing or planning to invest in emerging technologies.
  • Crisis is driving clarity in technology investments: Fifty six percent of executives agree that cloud migration has become an absolute necessity.

These are challenging times, with technology advancement creating both immense disruption and opportunity. We hope the Enterprise reboot report delivers greater clarity about what the future holds and can be a practical roadmap for arriving there stronger than ever.

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