90% Business Are Leveraging Digital Technologies: Study

by CXOtoday News Desk    Apr 18, 2017

Digital Transformation

About 90 percent business leaders confirmed their organizations are leveraging digital technologies such as artificial intelligence (AI) and the Internet of Things (IoT), and 34 percent of such initiatives had already delivered positive outcomes, finds out a study by Fujitsu.

The study noted that the important factors for successful digital transformations are having talented staff with the right skills and strong leadership, as well as the establishment of organizations that can respond to the speed of change of digital transformations. In addition, it is also necessary that co-creation be performed with technology partners which have the capability of digital technology.

Looking at digital transformation initiatives, marketing is the top functional area (38 percent), followed by workstyle (35 percent), and operation and maintenance (30 percent). In terms of industry-specific initiatives, finance and insurance (51 percent) and healthcare (51 percent) are the major areas of digital transformation, followed by manufacturing.

The highlights that the top three outcomes of digital transformation were increase in revenue (46 percent), improvement of customer relationships (44 percent), and strengthening competitiveness of products (36 percent), confirming the contribution of digital transformations to business growth.

According to the results of the survey, important factors for successful digital transformations are having talented staff with the right skills (19 percent), strong leadership (18 percent) and streamlined organizations and process (17 percent).

In addition, the survey also revealed that, to successfully carry out digital transformation, it is necessary to co-create with technology partners having technological capability as well as understanding of business and alignment with the vision and strategy. Business leaders have high expectations regarding AI, with 77 percent of them viewing AI as an opportunity. Most of them also agree that AI will enhance the capabilities of people in the future.

Business leaders responded that the most important capabilities that people need to strengthen in the digital era are professional knowledge of digital technologies (18 percent) and creativity and imagination (17 percent) among other necessary capabilities.

The results also indicate that, to successfully implement digital transformation initiatives, it is important to foster the development of digital talent, or acquire such talent.

The study surveyed 1,614 business leaders across 15 countries for the purpose of learning about the status of, and trends in, digital transformation initiatives.