Petroc Taylor
Research expert covering global developments in the use of data
Digital transformation - statistics & facts
In a rapidly evolving digital landscape, businesses across the globe are grappling with the implementation of exciting yet bewildering new technologies. The term digital transformation refers to the integration of such technologies to drive greater productivity, efficiency, and sustainability. The term gained traction during the coronavirus (COVID-19) pandemic and has come to represent a broad shift to more agile, intelligent ways of doing business. Artificial intelligence (AI), big data, and the cloud are considered to be core transformative technologies with broad applications across multiple industries, while sectors such as manufacturing are embracing specialized robotics.
The task for organizations will be to strike a balance as they look to forge ahead with powerful new technologies while factoring in pressing cybersecurity and ethical concerns. On the other hand, employees will look to enhance their skills portfolio to succeed in a global job market that demands digital fluency and a willingness to embrace change.
Spending is accelerating, with cloud technologies at the forefront
Worldwide spending on digital transformation reached 1.85 trillion U.S. dollars in 2022, up over 16 percent on the previous year. The coronavirus (COVID-19) pandemic is considered to have kick-started this spending for many businesses, with the rise of remote work prompting organizations to embrace cloud technologies that enable flexible working environments. Over 90 percent of organizations worldwide had implemented cloud technologies as of 2023, the highest adoption rate of any emerging technology, with global public cloud spending estimated to have surpassed 560 billion U.S. dollars worldwide.AI adoption varies across industries
Generative AI represents the cutting edge of many digital transformation initiatives, yet the majority of organizations worldwide are yet to implement the technology. Global implementation stood at around a third of organizations worldwide in 2023, with that share increasing to 40 percent in North America. When implemented, AI and machine learning can enable intelligent decision-making for executives via predictive modeling and enhanced service for customers through personalization and automated chatbots. Yet the complexities associated with AI implementation set a high bar for entry, posing challenges for smaller organizations with restricted budgets.Transforming the workforce
The widespread adoption of new digital processes has spurred a reassessment of the role of the workforce, with certain technologies requiring specialized skills and competencies. A range of technical skills are seeing increased demand amid AI adoption, with machine learning, data analytics, and cybersecurity skills among those in the spotlight. Many companies will look to India to meet this demand, with the country topping a ranking of AI skills penetration, while others may look to upskill current employees amid the surging market for corporate e-learning.The task for organizations will be to strike a balance as they look to forge ahead with powerful new technologies while factoring in pressing cybersecurity and ethical concerns. On the other hand, employees will look to enhance their skills portfolio to succeed in a global job market that demands digital fluency and a willingness to embrace change.
Petroc Taylor
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Jun 28, 2024
Petroc Taylor
Research expert covering global developments in the use of data
