EDITOR ’ S QUESTION
HOW CAN EUROPEAN DECISION-MAKERS EFFECTIVELY OVERCOME THE TALENT SHORTAGE IN AI TO ENSURE SUCCESSFUL ADOPTION AND IMPLEMENTATION ?
A recent report from Infosys sets the scene . . . . Technology has never been more critical to the success of businesses across every industry . With the pace of change only advancing more rapidly , emerging technologies like Generative AI – which grew from a novel concept to front-page news in under a year – now join more established solutions like cloud computing as critical capabilities for many businesses .
The vast majority ( 83 %) of respondents agreed that emerging technologies will impact their organisation ’ s long-term strategy , with 66 % saying they will have a significant impact .
However , 70 % believe the pace of technological advancement exceeds their workforce ’ s ability to
70 % believe the pace of technological advancement exceeds their workforce ’ s ability to learn how to incorporate it .
learn how to incorporate it . This skills gap is hindering adoption , with one-in-three citing a lack of internal technical capabilities as a key barrier to embracing new technologies .
To close these gaps , many businesses are increasing budgets for employee training and upskilling . Companies that invest in developing their workforce ’ s technical capabilities while adapting to new employee dynamics will gain a competitive advantage in leveraging emerging technologies .
Among the key findings :
• Emerging technologies are playing a major role in long-term strategic planning . Virtually all respondents ( 99 %) said emerging tech will have a role in their organisation ’ s strategic planning
• Businesses are increasing spending on general and Generative AI , cloud computing and cybersecurity . This highlights an ongoing challenge , as it requires increasing budgets for both critical infrastructure and more speculative emerging technologies
• Generative AI is seen as beneficial for productivity and forecasting . However , few companies have yet integrated the technology into their workflows and processes
• The pace of change exceeds workforce readiness . Nearly three-quarters ( 71 %) of respondents admitted to worrying that the pace of technology change exceeds their organisation ’ s ability to learn how to incorporate it into operations
• Many organisations are facing a skills ‘ deficit ’ when it comes to key technologies . Respondents showed an 8 % gap between how important advanced statistical analysis is considered and the current skill level of the workforce , and a 6 % gap for Machine / Deep Learning
• Executives believe they can gain a competitive advantage if they work to close the skills gap . Lack of internal technical skills was cited as the top challenge holding businesses back from making more effective use of emerging technologies
“ Data and AI technologies will help companies rapidly amplify human potential , open untapped market avenues and contribute to the overall economic value of the enterprise ,” said Sunil Senan , Senior Vice President , Infosys Topaz . “ This will lead to business outcomes unlocking efficiencies at scale , empowering the ecosystem and accelerating growth .”
Highlighting the strategies essential for driving successful Digital Transformation across the continent , Armand Leblois , Regional Manager at Cisco Network Academy Europe ; Sheila Flavell CBE , Chief Operating Officer of FDM Group ; and Stuart Munton , Chief of Group Operations and Technology at AND Digital , all underscore the critical importance of investing in training , fostering collaboration with academic institutions and integrating hands-on AI practices into European businesses .
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