Companies that are struggling to adapt to new digital changes

Looking back on the past year, we’ve seen major advancements in technology, these have enabled companies to progress and work more efficiently in this new digital age, as well as providing more effective ways to learn, communicate, and develop. We are seeing these changes constantly develop.

It seems as if changes in technology is having a positive impact on companies, as research carried out by Futurum found that 19.3% of companies feel that the pace of technological age has made them more competitive in the past few years. However,

through the same initiated research, it was found that a significant number of companies are finding it difficult to adapt to these times of digital transformation, with 1 in 4 businesses saying that they are struggling with this aspect of their business. Despite this, whilst weighing up the opportunity vs. threat of technological disruption, 39.6% of businesses feel that it provides them with new opportunities to improve and grow as a company.

Lali Sindi is the Senior Business Development and Communications Manager at InterActive Pro and Edology.com discussed how technology is aiding the learning experience, saying “Modern technology and the education industry presently enjoy a close symbiotic relationship which is poised to only become stronger in coming years. Both inside and outside of the classroom, modern technologies are making learning an increasingly, more interactive and digitized process for students of all ages. Most notably, the current application of AI-related technologies and their potential offers an immense realm for future possibilities.”

Savoy Stewart who carried out their own research found that the reasoning behind many companies not being able to deal with the constant technological changes, was down to how certain companies approach new technologies surprisingly in today’s age, they found 24.4% of companies had no real approach to new digital trends. Positively, 50.4% of businesses reported having a proactive ‘opportunity-minded’ approach, ensuring they remain competitive and up to date.

With 25.1% of employers being able to adopt a passive ‘wait and see’ approach, it is unsurprising that 30.7% of companies felt the impact of technological change over the past three years has made them less competitive. With new technologies having such a significant impact on companies progression, it is important for more companies to adopt this approve and be able to adapt well to these changes.

Surprisingly, whilst 29.5% of companies stated they feel very excited about their ability to adapt over the next three years, only 18.3% rated themselves as ‘Digital Leaders’. And while a low number of companies seem to express their interest in these changes an additional 35% of businesses felt that they were confident in their ability to adapt. Lastly, 12% of businesses stated they are very worried about their ability to adapt to technological change.

In addition to research put together by Savoy Stewart, research from Capgemini’s Digital Transformation Institute highlights that the minority of businesses feel they have the digital (39%) and leadership (35%) capabilities needed to make their digital transformation journey a success.

Enrico Maria Bagnasco, Head of Technology Innovation at Telecom Italia commented on these recent changes to technology, saying “It is important that companies keep an open dialogue with the external ecosystem and find a balance between business and technology to achieve the goals of digital transformation projects.”