Organisations undergoing digital transformation initiatives are realising the possibilities that emerging technologies – like AI, IoT and multi-cloud – and re-evaluating how they invest in IT.
In the wake of the pandemic’s economic impact, a Teradata study found the majority or 95% of companies in Singapore are rethinking their IT investments for 2022 and prioritising modernising cloud architecture, improving data management and analytics among the top investment areas.
Looking three years ahead, IT decision-makers also identified emergent technologies, such as multi-cloud infrastructure, IoT, 5G, edge computing, AI, and data analytics, as critical areas for increased future spend. This was a globally held view, with IT leaders from the U.S., Europe, and the Asia Pacific Japan regions citing emerging technologies as a top investment priority.
What are the roadblocks?
Among key highlights ,70% of IT decision-makers also agreed that their organisation’s digital transformation efforts or lack thereof could be a roadblock to realising the full benefits of key emergent technologies, such as AI and machine learning. Another 86% expressed concerns that not being cloud-ready could be a significant barrier to accelerating their digital transformation efforts.
The Teradata study, conducted in August, commissioned independent market research company Vanson Bourne to conduct a quantitative research study of IT and business decision-makers across the U.S., UK, France, Germany, China, Singapore, Japan, Australia, and India.
Respondents were from organisations with 1,000 employees or more, and came from various private or public sectors, including Business and Professional Services; Financial Services; IT, Tech, and Telecoms; Retail, Distribution, and Transport; Manufacturing, and other Commercial Sectors.
