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Emerging solutions are developing at an unprecedented rate, and businesses are frantically trying to keep up with them. While some businesses struggle to stay away, those who make strategic investments in technology are reaping the rewards. According to KPMG’s International Tech Report 2024, 87 per cent of companies reported higher profits. However, 78 % of technical officials are having trouble adjusting to the fast pace of change.
As companies deepen their reliance on technology, security remains a key focus. According to the report, 33 % of businesses are working on improving data accessibility to make sure employees can use information for decision-making, while 35 % of companies plan to improve data security in the upcoming year. Also, 32 per cent are prioritizing data management, helping companies manage and protect their information more efficiently.
Despite these attempts, security risks and private concerns remain the biggest obstacles to digital change. Some online activities are also delayed due to security fears—80 per cent of directors admit that a risk-averse society slows their leader’s adoption of new technology.
AI Angle
Artificial Intelligence ( AI ) is proving to be a game-changer, but businesses are still figuring out how to maximize its potential. According to the report, 74 % of businesses claim that AI is already improving employee productivity. However, a growing problem remains—78 per cent fear that AI’s decision-making method lacks transparency and is not well understood.
” A important change in how companies engage with technology—moving from a reactive approach to a more proper, value-focused design. While AI is boosting production, risk aversion and weak governance are also major barriers to change. To really access AI’s possible, businesses must rely on confidence, clarity, and a well-structured, value-driven strategy beyond the hype”, shared Akhilesh Tuteja, Partner &, National Leader at KPMG India.
Beyond AI: Investment Beyond AI
Eighty-six per cent of companies are prioritizing investment in Everything-as-a-Service ( XaaS), a model that enhances agility and reduces costs through cloud-based solutions. Other top investment areas include cybersecurity (68 per cent ), AI and automation ( 65 per cent ), and edge computing (61 per cent ).
Notably, the Asia-Pacific ( ASPAC ) region is leading in proactive tech adoption, with India and China standing out as frontrunners in implementing emerging technologies.