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

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

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

Brightcove to Power FrightPix, a New Streaming Destination for Horror, Thriller and True Crime Fans13.6.2024 18:00:00 EEST | Press release

Brightcove (NASDAQ: BCOV), the world’s most trusted streaming technology company, today announced it is welcoming FrightPix – the new, free, ad-supported video-on-demand service (AVOD) for all things horror, thriller, and true crime – to its roster of media customers. Launching June 15, 2024, FrightPix will rely on Brightcove’s award-winning platform to distribute its content to audiences across the U.S., delivering an unparalleled viewer experience through its advanced streaming technology. FrightPix will blend classic scares, modern thrillers, true crime tales, and FrightPix Originals into a convenient and free service for fans. By leveraging Brightcove’s reliable and scalable video technology, FrightPix will provide a seamless, curated, high-quality viewing experience across any device for its audience. “As the streaming market evolves, viewers are demonstrating a clear desire for more tailored experiences. At Brightcove, we deeply believe regional, targeted-audience and genre-focus

Amazon study reveals most European employees favour on-the-job skills training or apprenticeships over university degrees for a successful career start13.6.2024 17:38:00 EEST | Press release

More than half of European workers (54%) believe that on-the-job-skills training or apprenticeships are more valuable for preparing people for work today than traditional university degrees, a new European career insights and workplace trends study commissioned by Amazon has found. In fact, the study found that just under three quarters (73%) of workers feel there needs to be a wider range of apprenticeship or internship opportunities available to young people. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240613014196/en/ The Amazon Future of Work & Career Development European study, conducted by Ipsos, also found that a majority of European employees* (89%) think it’s important to learn a new skill to improve or change their career path, even more so than receiving a promotion (73%). Alongside factors such as pay/salary (94%) and office/worksite location or flexible/hybrid or remote working (93%), 91% of adults say on the

OPEX ® Corporation Named 2024 Sortation System Innovation of the Year by SupplyTech Breakthrough13.6.2024 16:05:00 EEST | Press release

OPEX® Corporation, a global leader in Next Generation Automation for warehouse, document and mail automation, has been selected by the SupplyTech Breakthrough Awards program as the winner of the 2024 Sortation System Innovation of the Year Award for OPEX Sure Sort® X with OPEX Xtract™. This annual awards program is conducted by SupplyTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout technology companies, products and services in the supply chain technology and logistics industry around the globe. OPEX Sure Sort X with OPEX Xtract, introduced in March 2024, represents the next generation of high-speed automated sortation and order retrieval solutions. It is a fully adaptable, turnkey offering designed to automate numerous manual tasks with a simple, one-touch approach. “We’re honored to receive this prestigious award from SupplyTech Breakthrough,” said Alex Stevens, President of Warehouse Automation at OPEX. “Our goal in dev

Adtran sets new industry benchmarks with optical pumping cesium atomic clocks13.6.2024 15:00:00 EEST | Press release

Adtran today launched two new optical cesium atomic clocks that set new standards in network time synchronization: the OSA 3300 Super High-Performance (OSA 3300 SHP) and the OSA 3350 Super Enhanced Primary Reference Clock+ (OSA 3350 SePRC+). As part of Adtran’s Oscilloquartz portfolio of industry-first optical cesium clocks, the devices leverage unique, state-of-the-art optical pumping technology to meet evolving demands across applications from scientific research to critical PNT infrastructure. The OSA 3300 SHP offers exceptional stability and accuracy, making it a valuable tool for metrology institutes and scientific research facilities. In contrast, the OSA 3350 SePRC+ is specifically designed to enhance holdover capabilities for PNT services. It maintains 100 days of 100-nanosecond precision, providing continuous and accurate timing even in environments where GPS/GNSS is unavailable. This makes it a crucial component for ensuring the integrity of mission-critical networks and supp

Vantage Data Centers Completes $9.2 Billion Equity Investment Led by DigitalBridge and Silver Lake13.6.2024 15:00:00 EEST | Press release

Vantage Data Centers, a leading global provider of hyperscale data center campuses, has completed a $9.2 billion equity investment led by investment vehicles managed by DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge”), the leading global alternative asset manager dedicated to investing in digital infrastructure, and Silver Lake, the global leader in technology investing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240613361394/en/ Vantage Data Centers’ portfolio includes 34 operational or developing hyperscale data center campuses across five continents. Pictured is a data center on the company’s Phoenix, Arizona campus. (Photo: Business Wire) The capital raise was significantly oversubscribed and upsized by $2.8 billion with participation from multiple global investors, bringing the completed investment to $9.2 billion. Together with the €1.5 billion investment by Australian Super announced in September 2023, agg

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