Technology, especially artificial intelligence, is forecasted to play a major role as Asia Pacific organizations expect moderate to high growth for the next 12 months based on newly released research commissioned by managed network services provider Expereo.
In the IDC InfoBrief entitled “Enterprise Horizons 2024: Technology Leaders’ Priorities on Their Digital Business Journey,” 85% out of the 650 global technology leaders surveyed are optimistic about their business outlook, attributable to the pace of their AI adoption.
Among the respondents, almost a third (33%) say that increasing revenue and expanding into new markets is in their top three (3) priorities driving tech investments in their organization.
However, short-term opportunistic attitude to technology planning is revealed to be a major obstacle that can potentially put growth ambitions under threat since only 23% of APAC enterprises have reached full digital maturity – that’s when a long-term digital business strategy is in place.
At this point in time, a majority of organizations are still in the stage of addressing opportunistic and short-term digital plans with isolated and siloed digital excellences across IT and Business units.
This scenario is exacerbated by the fact that a third (32%) of these organizations admit to having digital strategy and initiatives with short lifespans, and 29% say that their CEOs still need to work more closely with technology leaders to expand digital transformation initiatives.
With the goal of delivering global growth over the next 12 months, the leading driver for enterprises is increased automation (52%), with 63% regarding the automation of business operations and processes with extreme importance.
“There is a growing optimism about global growth, and the critical role of technology in driving this progress is widely acknowledged. Many organizations are eager to accelerate their journey toward the future through digital transformation, but the path forward remains a work in progress for many. Bridging the gap between the fifth of global organizations that exhibit full digital maturity and the rest is imperative,” said Ben Elms, Chief Executive Officer at Expereo.
He advises enterprises to move swiftly into their digital transformation initiatives, supported by a comprehensive long-term 360-degree digital strategy that encompasss every aspect of the technology stack — from AI/ML, automation, and analytics, to cloud performance, security, network visibility, and connectivity.
“Such a strategic approach is essential for ensuring the performance, agility, and scalability necessary for sustained high growth,” he concluded.
