TALKING

Earlier this year we produced a new report to look at the trends that are set to shape technological and business decisions this year , with the key ones being :

1 . Cloud and AI is here to stay outperform peers by more than 2x , both in terms of revenue growth and profitability .

4 . Digital Transformation = social transformation

This stands out as a ‘ mega trend ’, framing our understanding of all the others . Rapid Digital Transformation fuelled by cloud , Artificial Intelligence ( AI ) and other technologies like the Internet of Things ( IoT ) is here to stay – so don ’ t expect life to slow down . This doesn ’ t mean that we are all trapped in a state of permanent pandemic emergency . Rather , that the technological changes initiated by the response to COVID have become permanent and for businesses to succeed , Digital Transformation must become a way of life . Our report highlighted that 60 % of organisations accelerated their investments in digital technologies due to COVID-19 , and more than half ( 55 %) permanently course-corrected their organisational strategies in 2020 . With operational agility and flexibility top of mind for so many business leaders , successful adoption and implementation of technologies such as cloud and AI will be central to efforts at achieving growth .

Today more than ever , businesses need to consider the social context of their actions . Increasingly , we see focus on sustainability from consumers and , according to our study last year , 54 % of consumers say they ’ re willing to pay higher prices for a sustainable future . To help organisations in achieving these social actions , this year we launched a pro bono social impact programme that applies our technologies – such as hybrid cloud and Artificial Intelligence – and an ecosystem of experts to helping non-profit and government organisations in driving change in vulnerable to environmental threats including climate change , extreme weather and pollution . Organisations utilising transformative tools can help achieve sustainability benchmarks through greater measurement , data collection and carbon accounting , as well as through improved predictiveness and greater supply chain resiliency .

2 . An appetite for risk modernises business operations

5 . Workplace cultures must also transform

Business operations are inherently complex , so a few isolated improvements here and there will not be enough to guarantee successful modernisation . Our research showed that many businesses grasp this . Consider that since 2019 , the number of CIOs reporting advanced hybrid cloud operations in their organisations has increased by an impressive 700 %, while intelligent workflows have gone up by an almost equally striking 560 %. But successfully negotiating change also entails an enhanced appetite for risk . Insisting on an immediate return on innovation can lead to a fear of failure that stifles creativity . Our report highlighted companies that don ’ t penalise failure see a 10 % revenue growth bump in the context of tech adoption and Digital Transformation .

3 . Zero Trust approach to security

Cloud-based technologies , platforms and ecosystems create new opportunities for innovation , but they can also introduce new threats . Worryingly , 92 % of organisations lack the ability to securely enable and extend new cloud-native capabilities to their internal and external partners . It is time , therefore , to go beyond out-moded approaches and to adopt a ‘ Zero Trust ’ attitude to security – a preventative approach that assumes malicious actors are everywhere . After all , organisations that integrate their cloud and security strategies more intentionally

Last year , we heard a lot about ‘ The Great Resignation ’ and our IBV research found that while 30 % of employees were planning to change jobs before the end of 2021 , a further 15 % were looking to do so this year . In other words , the disruption is not over yet . The virtualisation of work has given companies greater access to global talent , but to keep that talent , companies must foster cultures that place a value on people . To be truly successful , Digital Transformation must be accompanied by cultural transformation also .

Continuing innovation

As business leaders , we must evolve our old ways of thinking . Leadership skills that allowed us to succeed in the past may not be sufficient to succeed in this rapidly evolving , digitally infused world . There is a need to be more adaptable , resilient , agile and flexible than ever before . The way we define our strategy , set business priorities , assign resources , procure goods and services , recruit and motivate our teams , engage with our clients , engage an ecosystem of partners that support our business – we need to rethink all of that , not once , but constantly . Technology can help each of those components – the winners of the future will be those that to build new leadership muscles and a culture of innovation in their business . �

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