Many struggle to integrate digital into their core processes to address business goals, says KPMG's Denis Berry.
IAccording to the 2018 Harvey Nash/KPMG CIO survey of almost 4,000 technology leaders, the top three priorities for “digital leaders” in 2018 are: Developing innovative new products; delivering stable IT; and enhancing customer experiences. The CIOs also say they’re also looking to improve cybersecurity (up 23 percent from last year), manage risk (up 12 percent) – and using a chief digital officer (CDO) to direct digital strategy.
“Technology disruption continues to play a significant role in today’s business environment and, while more CIOs understand the importance of implementing a digital strategy, most are still struggling with integrating digital into their core processes to address business goals,” says Denis Berry, KPMG principal and U.S. CIO Advisory leader.
“What tends to hold technology leaders back is the lack of trust in relying on digital to guide decisions,” he adds. “This disconnect is largely due to the absence of proper talent who fully understand how the technology can drive the business strategy. Companies who can source the right skills and establish a clear digital vision will be the ones who will benefit the most from these opportunities.”
Meanwhile, 78% of IT leaders say their digital strategy is only moderately effective or worse, according to the survey. They say they’re ramping up investment in data and cybersecurity, as they respond to threats and disruption, as well as the transformation taking place in their industries.
A move toward digital platforms and solutions is proving a huge challenge for CIOs. While organizations recognize that an effective digital strategy is critical to successful data security, many report they still struggle.
More than a third of companies (35 percent) report they can’t hire and develop the people with digital skills that they need, and almost one in 10 (9 percent) say they have no clear digital vision or strategy at all. Fully 65 percent report this lack of talent is holding their organizations back, and 67% say they plan to use automation. Seven in 10 plan to invest in artificial intelligence to supplement their workforce.