Business Wire

Global Enterprises’ High Growth Expectations in the AI-Era at Risk from Short-term Focus on Technology

Share

Expereo, the world leading global intelligent internet company that connects people, places and things anywhere, today announces the release of an IDC InfoBrief, commissioned by Expereo, Enterprise Horizons 2024: Technology Leaders’ Priorities on Their Digital Business Journey1, which details insights from a survey of over 650 global technology leaders and highlights attitudes towards growth and investment as well as the key inhibitors to achieving these ambitions.

The survey results, published in the IDC InfoBrief, reveal that global organizations are optimistic about their business outlook for the next 12 months, with 81% of technology leaders2 expecting to see moderate to high growth in this period. The role of technology in helping deliver that growth has reached new prominence, driven by the pace of AI adoption. However, the survey reveals major obstacles that must be overcome for technology to fully enable growth priorities, notably the emergence of a short-term, opportunistic attitude to technology planning.

Technology’s Role in Business Growth Strategies

When asked about their business outlook for the next 12 months, 52% of global enterprises expect to see moderate growth and a further 29% expect high growth. The ability of technology to help deliver this growth has never been higher on the agenda, with almost a third of technology leaders (29%) saying growth (to increase revenue and/or expand into new markets, segments, and/or geographies) is in their top 3 priorities driving tech investments in their organization. In addition, the top priority of technology leaders is now to contribute to business growth / increased turnover.

Short-Termism Putting Growth Ambitions Under Threat for Many

However, only 22% of global enterprises have reached full digital maturity – a scenario where a long-term digital business strategy is in place and there’s an orchestrated enterprise-wide digital-first trajectory. The reality is that most of global organizations are still working on opportunistic and short-term digital plans with isolated and siloed digital excellences across IT and Business units.

In fact, a third (33%) of global enterprises admit to having a short-term focus, meaning digital strategy and initiatives are enterprise oriented but typically have a short lifespan. Interestingly, there are more than a quarter of global respondents who say whilst the CEO supports digital initiatives, they do not work closely enough with technology leaders, putting digital transformation initiatives in jeopardy.

Digital Maturity Vital to Meet Challenges Ahead

The range of challenges identified in the survey reflects the mix of technical, economic and cultural factors that technology and business leaders face today.

When asked what the biggest risks or inhibitors are to their growth ambitions over the next 12 months, 38% of global respondents cited geopolitical issues as potentially affecting either their business or their technology providers. This is followed by inflation (34%), economic uncertainty (32%), uncontrolled spending by lines of business (31%) and performance of networks /connectivity globally (30%).

When asked about serious challenges to executing the digital initiatives aimed at enabling growth, IT integration complexity (41%), partners’ capabilities (40%), lack of regional expertise (35%) were identified.

Increased automation, enhanced cost containment and efficiencies, and greater innovation seen as key growth enablers

When asked how their organisations were planning to deliver global growth over the next 12 months, the number one driver is via increased automation for almost half (49%) of respondents; a further 60% agree that automating business operations and processes is now considered important or extremely important. Additional growth initiatives include an increased focus on cost containment and efficiencies (44%) and increased innovation (39%).

AI is the number one technology investment priority globally

42% of respondents named AI as their number one technology investment priority, narrowly beating security (37%) and cloud or multicloud networking/ connectivity (35%). 31% of global respondents believe AI/ML will be critical to fulfilling business ambitions, a further 60% say it will be important.

Ben Elms, Chief Executive Officer at Expereo, comments: “This year’s Enterprise Horizons report brings encouraging news: there is a growing optimism about global growth, and the critical role of technology in driving this progress is widely acknowledged. Many organizations are eager to accelerate their journey toward the future through digital transformation, but the path forward remains a work in progress for many. Bridging the gap between the fifth of global organizations that exhibit full digital maturity and the rest is imperative.

To move swiftly into the future with digital transformation, organizations need a comprehensive long-term 360-degree digital strategy. This strategy must encompass every aspect of the technology stack — from AI/ML, automation, and analytics, to cloud performance, security, network visibility, and connectivity. Such a strategic approach is essential for ensuring the performance, agility, and scalability necessary for sustained high growth.”

For the full IDC InfoBrief, please visit: https://www.expereo.com/whitepapers/enterprise-horizons-2024

About Expereo

Expereo is the world leading intelligent internet company that connects people, places, and things anywhere. Solutions include Global Internet, SD-WAN/SASE, and Enhanced Internet. With an extensive global reach, Expereo is the trusted partner of 60% of Fortune 500 companies. It powers enterprise and government sites in more than 190 countries, with the ability to connect to any location worldwide, working with over 2,300 partners to help customers improve productivity and empowering their networks and cloud services with the agility, flexibility, and value of the Internet, with optimal network performance.

Expereo was acquired in Feb 2021, by Vitruvian Partners which acquired a majority shareholding from Seven2.

1 doc #EUR252162924, May 2024

2 doc #EUR252049924, April 2024

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Sam Milligan
+44 7495756807

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.com

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Carestream Secures Crucial Business Partner Agreement in Peru17.6.2024 18:14:00 CEST | Press release

Carestream Health recently secured an agreement with Distribuidora Diagnostica Medica SAC (DMD), a leading distributor of radiology solutions in Peru, to convert the latter’s customers and install base to Carestream products. Additionally, under the terms of the agreement, DMD will become an exclusive Carestream distributor in the region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240617561378/en/ Carestream DRYVIEW 5700C (Photo: Business Wire) As part of the deal, DMD purchased 80 DryView printers, which together have a projected print volume of more than 60,000 square feet in 2024 and over 100,000 square feet in 2025 and beyond. “We are excited to be joining forces with a strong organization like DMD,” said Miguel Nieto, Carestream’s Director of the Americas Region & General Manager of LATAM Consumables Business. “Not only are they one of the leading providers in Peru, but they have a strong track record of taking care

Cognite Atlas AI™ Delivers Specialized Industrial Agents, Virtual Employees Tailored to Provide Domain-Specific Insights and Automate Complex Industrial Tasks17.6.2024 15:00:00 CEST | Press release

Cognite, the globally recognized authority in Data and AI for industry, today announced Cognite Atlas AI™, an industrial agent workbench that extends Cognite’s Industrial DataOps platform, Cognite Data Fusion®. This strategic offering is a culmination of Cognite’s extensive Industrial DataOps and innovative generative AI capabilities. Cognite Atlas AI’s low-code industrial agent builder will enable industrial organizations to use generative AI to carry out more complex operations with greater accuracy, including workflow automation and decision-making support, accelerating efficiencies that can generate tens of millions of dollars in business impact. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240613136987/en/ Cognite Atlas AI enables low-code development of AI agents that increase the accuracy of industrial AI, accelerate efficiencies, and drive business impact (Graphic: Cognite) Cognite Atlas AI provides domain-specific

Takeda Announces Phase 3 Topline Results for Soticlestat (TAK-935) in Patients with Dravet Syndrome and Lennox-Gastaut Syndrome17.6.2024 12:45:00 CEST | Press release

Takeda (TSE:4502/NYSE:TAK) today announced topline data from its SKYLINE and SKYWAY studies. SKYLINE (TAK-935-3001) was a multicenter, randomized, double-blind Phase 3 study that evaluated soticlestat (TAK-935) plus standard of care versus placebo plus standard of care in patients with refractory Dravet syndrome (DS).1 Soticlestat narrowly missed the primary endpoint of reduction from baseline in convulsive seizure frequency as compared to placebo (p-value = 0.06). Among the six key secondary endpoints, soticlestat showed clinically meaningful and nominally significant results in the responder rate, measures of caregiver and clinician global impression of improvement, and seizure intensity and duration scales over the 16-week treatment period (all p-values ≤ 0.008). SKYWAY (TAK-935-3002) was a multicenter, randomized, double-blind Phase 3 study that evaluated soticlestat plus standard of care versus placebo plus standard of care in patients with refractory Lennox-Gastaut syndrome (LGS)

Dubai becomes the world metropolis for artificial intelligence17.6.2024 11:13:00 CEST | Press release

Dubai is increasingly becoming a global center for artificial intelligence. To this end, the metropolis of the day after tomorrow on the Gulf has pledged to train one million people in AI prompting over the next three years with Dubai Future Foundation overseeing the AI prompt program.. It is the first program of its kind in the world. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240613025960/en/ Omar Al Olama, the UAE´s Minister of State for AI, Digital Economy, and Remote Work Applications. (Photo: Business Wire) “We want to be the most future-ready city and continue to prepare for the AI era by developing expertise and skills that support global technological change and put Dubai at the forefront of innovation,” said the Chairman of the Board of Trustees of the Dubai Future Foundation (DFF), Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, at the launch of the 'One Million AI Prompters' initiative in Dubai

KAYTUS Support for Intel ® Xeon ® 6 Processors - Unmatched AI Performance and Eco-Efficiency17.6.2024 09:02:00 CEST | Press release

KAYTUS, a leading IT infrastructure provider, announces that its servers now support the newly released Intel® Xeon® 6 Processors, which offer outstanding performance and energy efficiency, setting a new standard in the industry. Compared to servers equipped with 3rd Gen Intel® Xeon® Scalable Processors, the updated KAYTUS servers deliver a 200% performance boost and a 230% improvement in performance per watt, rigorously verified in virtualization scenarios and tasks such as decompression, video transcoding, and pgbench. The significant enhancement in performance per watt provides greener and more powerful computing support for diverse applications, including AI, cloud-native environments, and data analytics. KAYTUS continues to ensure that its clients benefit from the latest advancements in technology, achieving exceptional efficiency and performance. With the continuous development of artificial intelligence, particularly the rapid expansion and widespread application of AI technolog

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye