Study: High Cost of Innovation, Lack of Skills and Cyber Attacks Threat Hampering Global Digital Transformation

 
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Tata Communications has recently published a study titled “The Cycle of Progress”, which focuses on global digital transformation.

The India-based company is among the world leaders in telecommunication solutions and services. According to certain estimates, the company provides around 25% of the world’s internet routes. Its network covers around 1 million square feet of its data center.

One of the aspects of the study focuses on the different takes concerning the future of global digital transformation. For instance, leading players in North America and Europe are more optimistic and open to new technologies and their potential compares to that of their colleagues in Asia and the Middle East.

More importantly, the survey finds that three major factors are hampering global digital transformation – the high cost of innovation, lack of skills and threat of cyber attacks.

“Our study clearly demonstrates that business leaders are focused on the positive impact of technology innovation. While the AI hype machine may be rumbling into overdrive, it seems that currently businesses rate both IoT and predictive analytics as bigger drivers of digital transformation than the emerging uses of AI we hear so much about”, said Srinivasan CR, the Chief Digital Officer at Tata Communications.

Around 48% of surveyed participants see a significant impact of the Internet of Things, 43% of predictive analytics, while the same percentage see a positive impact of Artificial Intelligence (AI). However, the difference in countries is striking. For instance, 29% of decision-makers in Germany and the UK see little or no impact made by AI. The same questions are answered with “significant or slightly positive impact” by 95% of participants in India.

When it comes to the use of blockchain technology, 44% said it is adopted by their organization. Around 40% of respondents in UAE and Saudi Arabia saw the adoption of blockchain technology make their business more secure, compared to just 16% in the UK.

This study is another example of the major differences in perception of what digital transformation brings to the table. Almost all the questions in the survey recorded striking differences in the opinions of the same-position executives in two different countries or regions.