The pandemic seems to have compelled organizations to revisit their IT priorities and align them with today’s digital economy. There has been a greater consensus on the role of new-age technologies such as analytics, AI, and ML to accelerate digital transformation initiatives and accomplish tangible business outcomes.
Technology leaders reflected these sentiments in a new research report commissioned by Teradata and conducted by an independent research firm, Vanson Bourne. According to the study, in India, 84% expressed apprehensions that not being cloud-ready could be a significant barrier to drive their digital transformation efforts.
The majority of the technology leaders (98%) acknowledged that emergent technologies such as automation and AI would positively impact their organization in the next three years. The global health crisis has compelled businesses to move toward their digital transformation goals swiftly, and in 2022, most companies will be focusing on modernizing their cloud infrastructure and improving data management and analytics.
Responding and building resilience that lasts
One of the critical challenges for many businesses in this transformation age is how to make a winning cloud strategy quickly that could help them innovate and stay ahead of the competition. This will be a crucial boardroom agenda for the technology leaders and CEOs, as it will decide the success of enterprises to contribute to India’s digital economy, slated to be USD 1 trillion by 2025.
According to the study, globally, 85% of IT decision-makers agreed that digital innovation strategies and transformation efforts were further compounded by significant shifts in consumer purchasing behaviors, with verticals like Retail, Distribution, and Transport (87%) among the most impacted.
In India, 97% of respondents agreed that when re-evaluating their IT investments, modernizing cloud architecture, improving data management and analytics were among the top investment areas to accelerate their digital transformation efforts.