'With 90% of companies conceding that they have yet to even consider investigating advanced digital technologies such as robotics and artificial intelligence in the next two years, it is clear that investment in these areas is not at the level it needs to be to compete in a digital economy,' said David Gunning, a partner at KingramRed and co-author of the report.
‘Only a quarter of the 40 companies surveyed are investing in customer journey mapping, the most important driver for digital initiatives globally.’
Every organisation is facing digital disruption. Recent revolutions in industries such as music (Spotify), transport (Uber), telecoms (Skype) and accommodation (AirBnB) show the risk faced by traditional industries from digital innovation. This year's KingramRed report assesses how organisations are responding to the challenges of an increasingly digital environment. This report represents the second comprehensive assessment of how Irish companies are responding to the Digital Challenge. The research has been carried out by KingramRed– a specialist consultancy addressing all aspects of transformation in a digital economy. The study findings will be presented at a briefing held in the Marker Hotel (Dublin, Ireland) on May 4th 2017.
SKILLS & RESOURCE SHORTAGES
Businesses recognise the major challenge that insufficient digital skills and resources presents but have not addressed the key requirement of staff engagement to develop better digital capabilities.
Only 75% are investing in digital skills, only 50% of organisations believe that they have the skills and resources (both internally and externally) that they need to manage their digital initiatives.
If we compare these skills shortages with the fact that only 35% of respondents believe that they have successfully engaged their staff in digital transformation there is clearly a tangible opportunity to improve both engagement and productivity through development of existing employees whose current roles may be affected by increased digitisation and automation.