Companies risk revenue growth due to innovation achievement gap

2020-01-22 06:00

While a majority of CEOs express strong confidence in the effectiveness of their current IT systems, most are struggling to close the innovation achievement gap to drive growth and revenue, according to a global study by Accenture.

Innovation achievement gap: Adopting new technologies.

The research, which analyzed the adoption of both mature and emerging technologies - such as artificial intelligence, cloud, blockchain, and extended reality - found that just 10% of companies are making optimal technology investment and adoption decisions and realizing the full value of those investments.

By adopting new technologies more aggressively and breaking down barriers to effectively scale innovation across their organizations, these leading companies are generating more than twice the rate of revenue growth than those on the lower end of the spectrum.

At the same time, the study found that 80% of CEOs believe they have the right technologies in place to innovate at scale, and 70% claim to be very knowledgeable of their organization's investments in innovation.

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