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 (Australia, Canada, France, Germany, India, Japan, the Netherlands, the U.K, and the U.S ) 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 realization, and reveals how organizations can fully capitalize on technology’s promise.
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Embracing new technologies is no longer just about doing things better, faster, and cheaper.
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- Business priorities have shifted overnight: Fifty seven percent of executives say COVID-19 has significantly changed their organization’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 realized 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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❝ Emerging technologies and new ways of working will play a significant role in the transformation to a more digital economy, helping companies serve their customers even better than before, keep remote workforces connected, ensure their business is resilient and prepared for disruptions, and build a strong foundation for future product and service innovation. ❞