DB Power and LPA announce strategic partnership to globally expand solutions for issuers of structured retail products

Real Time Search
CES A80 :
CES HKMI :
CES 120 :
Total Turn.

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

2024-06-20 10:00:00

According to Technology Leaders Survey, commissioned by Expereo

SINGAPORE - Media OutReach Newswire - 20 June 2024 - 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 Journey[1], 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 APAC organizations are optimistic about their business outlook for the next 12 months, with 85% of technology leaders[2] 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, 50% of APAC enterprises expect to see moderate growth and a further 35% 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 (33%) 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 23% of APAC 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 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 (32%) of APAC 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 (29%) of APAC 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, 37% of APAC respondents cited geopolitical issues as potentially affecting either their business or their technology providers. This is followed by inflation (31%), economic uncertainty (32%), uncontrolled spending by lines of business (33%) 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 more than half (52%) of respondents; a further 63% 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 (49%) and increased innovation (38%).

AI is the number one technology investment priority
43% of respondents named AI as their number one technology investment priority, narrowly beating security (39%) and cloud or multicloud networking/ connectivity (37%). 34% of 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



[1] doc #EUR252162924, May 2024
[2] doc #EUR252049924, April 2024

Hashtag: #Expereo

The issuer is solely responsible for the content of this announcement.

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.

Link

Media OutReach

2024-07-18
16:20:00
AgileAsia Partners with the Singapore University of Technology and Design (SUTD) to Offer a Professional Certificate in Agile Project & Product Management
15:25:00
IGC Subsidiary Entered into a Cooperation with Confiprosper Fintech
15:00:00
Grey Expands its International Presence and Services to Latin America (LATAM), Southeast Asia (SEA) Markets
13:00:00
FitLine becomes Official Partner of the ATP Tour
11:30:00
HKU AIDS Institute & Immuno Cure’s Collaborative Therapeutic HIV Vaccine Research Project secured HK$66.7m TRS funding from Research Grant Council
11:00:00
LEAP promotes a Social & Emotional Learning Approach to Address the Well-being Needs of School Students and Teachers
09:20:00
Agilis Robotics Completes Cadaver Study for a Novel Endoluminal Surgical Robot, Aims at First-in-human (FIH) Trial This Year
08:00:00
eM Client email app launches groundbreaking version 10 with AI support
00:10:00
SOLOWIN Launches Solomon VA+, Leading the Way with Hong Kong's First App to Integrate Traditional and Virtual Asset Trading and Wealth Management Services
2024-07-17
20:45:00
Tencent Music Entertainment Awards 2024 Set to Dazzle at Galaxy Arena with a Stella Lineup This Friday
18:25:00
UP ZOOM Announces its Expansion into the Thai Advertising Market
17:45:00
Beijing Language and Culture University branch in Kazakhstan sees flood of applicants
17:00:00
Organic7days Announces Launch of New Beary Happy Wholegrain Cookies
16:35:00
Citi to Take Wealth Management to Next Level with the Market-First Launch of Wealth 360
15:20:00
VinFast announces irresistible price for VF e34 and VF 5 electric SUVs at GIIAS 2024 exhibition
11:40:00
Newtral launched ergonomic chairs to Define a New Work-from-Home Healthy Home Life
11:30:00
World’s First "100% DORAEMON & FRIENDS" Exhibition at Victoria Dockside, K11 Art and Cultural District Drives Surge of 30% in Footfall and 60% in Tourist Sales at K11 MUSEA During the Opening Weekend
11:00:00
Work+Store Introduces New Air-Conditioned Storage Units with An Exclusive Launch Offer
11:00:00
Coliwoo Celebrates 5th Anniversary with Its Members & The Public
10:00:00
No Rituals, Just Skills: Octa's Survey Revealed Traders' Attitude to Luck
Back to Top