Digitization can enhance enterprise performance in equity and credit markets by 2.7 times, according to the newly released 2022 Information Technology Outlook from S&P Global Market Intelligence. Customer experience, hybrid infrastructure, cyber security, artificial intelligence (AI) and workplace technology are driving change in the industry and this report examines how their impacts will play out in the year ahead.
Published by 451 Research, the enterprise technology research unit of S&P Global Market Intelligence, the report spotlights the impacts of digitization in customer experience, the need for workplace technology innovation and digital enhancements including machine learning and automation to manage and secure the digital infrastructure required to keep organizations competitive.
“Organizations have to become more data driven and build skills across their business lines to put data to work to serve their customers, employees and partners,” said Eric Hanselman, principal research analyst with 451 Research. “Enterprises will have to become skilled at managing and securing a hybrid collection of resources and services, if they’re to remain competitive in their markets and be an attractive place to work.”
Based on insights and survey data from 451 Research, key highlights from the report include:
- Formal digital transformation strategies have accelerated over the past decade as 54% of businesses have formal strategies in place, up from 43% in 2019 and 29% in 2016.
- 54% of enterprises are increasing their proportion of workloads on cloud, with 57% reporting use of hybrid cloud model.
- With the “Great Resignation” underway, workplace technology is playing a greater role in where people choose to work. 35% said that they were likely to accept a new job if the only way it differed from their current job was better availability of devices, applications and other productivity tools.
- 72% of organizations with machine learning in production say they are either ‘very’ or ‘somewhat concerned’ about the environmental impact of AI, but operational deployments of AI can reduce energy consumption.
- Cyber security requirements for digitization and other tech initiatives have driven over USD$5 billion in M&A activity in the last year.
The S&P Global Market Intelligence 2022 Information Technology Outlook Report is part of a “Big Picture Outlook” series published by the division’s research group that provides a look ahead to key strategic trends and opportunities. To learn more about this “Big Picture Outlook” research series, please visit here.