Security News > 2023 > June > Ignoring digital transformation is more dangerous than a recession

Business leaders worldwide understand they need to invest in digital transformation to meet a new innovation imperative, despite ongoing macroeconomic pressures and an increasingly uncertain, competitive business environment, according to Insight.

82% of respondents say companies must invest in digital transformation or be left behind.

34% plan to invest in digital transformation in the next 12 months to scale distribution and monetization of products and services; 33% intend to achieve deeper digitalization of customer experiences.

The greatest digital transformation hurdles include data privacy/security concerns, lack of essential technology skills, and insufficient resources for change management.

All these challenges will become even more acute as companies determine how to implement more complex technologies like generative AI. 48% of respondents said C-Suite scrutiny of digital initiatives has increased at organizations over the past year.

"Executives need to change the way they think about ROI if they truly want to become a digital business. They must be intentional about being agile, shifting the cost of investment from CapEx to OpEx to create an environment for continuous innovation and deploying technology quickly to gain a competitive advantage. If they don't, another company will," said Adrian Gregory, EMEA president, Insight.

News URL

https://www.helpnetsecurity.com/2023/06/14/digital-transformation-imperative/