The corporate IT industry is undergoing seismic changes and shifts that have destabilized the status quo. Nearly one in three enterprises surveyed show that organizations are worried about their future.
The results of the survey show that 80% of the companies have been forced to take part in a digital transformation involving remote working caused by the pandemic. The priorities have started to shift, according to Dell’s Digital Transformation Index.
The survey, involving 4,300 business decision-makers and large to mid-range enterprises, was conducted in July and August. The Index covers 12 industries in 18 countries.
Every industry is worried about the future
60% of the respondents say they will shed more job positions and it will take years before becoming profitable again. Some of the accelerated projects include remote work capabilities, cybersecurity, and data analytics-powered digital experiences for customers and employees.
Half of the organizations worry that their transition is not fast enough and 79% of them said they are reinventing the business models as they go.
On top of all this, digital transformation is not without its barriers. Some of them include data privacy and security concerns, lack of budget and resources, the inability to extract valuable insights from data, and the general lack of economic growth.
A new outlook on technology investments
Tech-led investments have stalled for the next 1 to 3 years. Some of the digital transformation investments planned include cybersecurity solutions, data management tools, 5G infrastructure, multi-cloud models, privacy software, among others.
The overall planned investments over the next couple of years cover both foundational technologies as listed above and emerging technologies.
Some of the emerging technologies include AI algorithms, commercial robotics, quantum computing, virtual reality, blockchain, and evolutionary nanotechnology.
Tip: Learn from other entrepreneurs how you can innovate during COVID-19
18 minutes ago
