Despite the economic slump, companies are determined to prioritize investments in digital capabilities to promote growth and manage costs at the same time, according to a new study from Unisys. The study discusses the evolving importance of IT, cloud computing, and AI in corporate transformation.

However, conflicts between IT and the C-suite, as well as impending talent shortages and ethical issues with AI, continue to prevent businesses from realizing the full potential of their digital investments.

Following are the critical insights highlighted by the research.

• While 85 percent of businesses invest in cloud technology, just 19 percent have adopted and successfully applied them to advance their operations.

• Only 15 percent of businesses are incorporating AI into their business plans, leaving the other 85 percent vulnerable to disruption.

• More than 55 percent of businesses admit they are still learning about the ethical implications of AI.

• When it comes to security flaws and dangers, 58 percent are proactive while 42 percent are reactive.

In the words of Manju Naglapur, senior vice president - cloud, applications & infrastructure solutions, Unisys, "Embracing a cutting-edge, cloud-native, digital-first mindset will enable organizations to be more agile and unlock growth. Enterprises are facing pressures to maximize resources, and this strategic shift will inspire innovation and drive impact”.

 

Cloud Spending Largely Immune from Economic Woes

With 85 percent of companies either expanding cloud spend or planning to over the next two years, cloud is still a crucial engine for business growth. Even though just 19 percent of organizations have adopted the cloud at a sophisticated level, 36 percent are still in the planning and early implementation stages. To make further strides and realize the value of their cloud expenditures, organizations should concentrate on optimizing their current cloud infrastructure.

Leaders Sound the Alarm on Talent Gaps

Despite the fact that cloud technologies are a driving force behind business expansion, managing and utilizing these technologies presents major talent-related problems. More than forty percent (42 percent) of IT leaders indicated concern about ensuring that their staff members are knowledgeable about new techniques and tools for utilizing the cloud. Organizations intend to accomplish this by upskilling and reskilling their staff by integrating continuing training into their workflow. Additionally, businesses are noticing a shortage of non-technical capabilities, such as interpersonal and communication skills (34 percent), as well as technical and business strategy expertise (32 percent). As businesses move along their cloud adoption path, these needs become more crucial.

Businesses Look for Responsible AI Compass

Organizations must step up their AI activities if they want to stay competitive. Only 15 percent of the businesses in our study have adopted AI, leaving the remaining 85 percent with a sizable window of opportunity for disruption. It should come as no surprise that more than half of all businesses (55 percent) acknowledge they still need to learn more about the ethical implications of AI. The majority of respondents (43 percent) believe that having humans routinely assess AI models and findings is the best way to handle ethical concerns. This strategy ensures that people actively engage in the decision-making process, encouraging the adoption of AI in a responsible and moral manner.

Navigating the Cyberstorm

Every company must deal with breaches, and 78 percent of respondents think one will probably happen. However, just 58 percent of respondents take a proactive strategy, while 42 percent adopt a reactive one, to security flaws and threats. Only 43 percent of organizations, which are essential to fostering resilience, have embraced a Zero Trust security strategy, according to the survey.

"Strategically shifting to a cloud-native, digital-first mindset includes aligning the C-Suite and IT on shared goals, aligning with business outcomes, advancing cloud technology, navigating ethical AI, and addressing skill concerns. While it may seem daunting, recalibrating the organizations' approach will help companies realize business value faster," concluded Naglapur.

The report, titled "From Barriers to Breakthroughs: Unlocking Growth Opportunities with Cloud-Enabled Innovation," gathered responses from 2,264 participants, including C-Suite, IT leaders, and developers from global enterprises across five countries: the United States, the U.K., Germany, Australia, and New Zealand.