Mumbai, India, October 16, 2024 – Kyndryl’s groundbreaking 2024 Readiness Report reveals a disconnect in the IT landscape: while 90% of executives are confident in their infrastructure, only 39% believe it’s ready for future challenges. This paradox raises urgent questions about the state of global IT readiness and highlights the complexities businesses face in today’s digital economy.
Key Revelations –
- India Leads in AI, Yet Faces Skills Crisis: India is at the forefront of AI adoption, with a remarkable 85% of business leaders investing in cutting-edge technologies to enhance their operations. However, the report reveals a daunting 27% skill gap in AI expertise, posing significant challenges to fully leveraging these advancements. Despite this, 51% of Indian businesses report positive ROI from their AI initiatives, which is far above the global average of 42%. This highlights the growth potential, even amid existing hurdles.
- The Modernization Dilemma: A striking 96% of Indian leaders prioritize technology modernization, recognizing its critical importance in maintaining competitive advantage. Yet, the report highlights a significant concern: 44% of mission-critical IT infrastructure globally is nearing or at end-of-life. This obsolescence not only increases vulnerability to cyber threats but also hinders organizations’ ability to innovate and respond to market demands effectively.
- Cybersecurity: A Growing Concern: As cyber threats escalate, 65% of business leaders surveyed globally express deep concern about potential attacks, with only 30% feeling adequately prepared to manage them. The report also sheds light on regulatory pressures, with 59% of Indian executives believing that changes are occurring too rapidly for their organizations to adapt. This dual pressure of cybersecurity and compliance creates a precarious environment for businesses aiming to thrive in the digital age.
A Strategic Path Forward
To navigate these challenges, Kyndryl outlines a comprehensive roadmap for organizations:
- Foster People-Ready Cultures: Organizations must prioritize aligning technology initiatives with workforce readiness. Emphasizing “people-readiness” ensures that employees are equipped to embrace digital transformation, which is crucial for maximizing the benefits of new technologies.
- Close the Skills Gap: Investing in talent development is critical. By focusing on upskilling employees, particularly in AI and cybersecurity, companies can bridge the existing skills divide and unlock their full potential. Proactive investment in education and training will help cultivate a workforce capable of driving innovation and managing complex IT environments.
- Address Technical Debt Head-On: Tackling aging technology infrastructure is not merely about survival; it’s an investment in future agility and innovation. By reducing technical debt, organizations can eliminate operational inefficiencies and position themselves for faster growth. This includes embracing automation technologies that can resolve IT issues more efficiently, ultimately saving time and resources.
Conclusion
As Kyndryl CEO Martin Schroeter aptly states, “Readiness is about empowering people and aligning tools with culture.” The insights presented in the 2024 Kyndryl Readiness Report serve as a clarion call for businesses to reassess their strategies in the face of evolving challenges. Organizations that prioritize modernization, talent development, and cybersecurity readiness will be better positioned to thrive in the rapidly changing digital landscape.
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