Global political, economic uncertainty creates a new breed of digital

15/06/2017 00:18 AST

Despite two-thirds (64 percent) of organizations adapting their technology strategy because of unprecedented global political and economic uncertainty, 89 percent are maintaining or ramping up investment in innovation, including in digital labor. More than half (52 percent) are investing in more nimble technology platforms to help their organization innovate and adapt, the 2017 Harvey Nash/KPMG CIO Survey, the world’s largest survey of IT leadership, revealed.

Global political, economic uncertainty creates a new breed of digital innovatorsWhile economic uncertainty is making business planning difficult for many organizations, it is clear digital strategies have infiltrated businesses across the globe at an entirely new level. The proportion of organizations surveyed that have enterprise-wide digital strategies increased 52 percent in just two years, and those organizations with a Chief Digital Officer have increased 39 percent over last year. To help deliver these complex digital strategies, organizations also report a huge demand for Enterprise Architects – the fastest growing technology skill this year, up 26 percent compared to 2016.

Cyber security vulnerability is at an all-time high, with a third of IT leaders (32 percent) reporting their organization had been subject to a major cyber-attack in the past 24 months – a 45 percent increase from 2013. Only one in five (21 percent) say they are “very well” prepared to respond to these attacks, down from 29 percent in 2014. Despite very visible headline-grabbing attacks such as the recent WannaCry ransomware attack, the biggest jump in threats comes from insider attacks, increasing from 40 percent to 47 percent over last year.

“Making a success of technology has always been challenging, and this year’s survey says that it has just got harder still,” said Albert Ellis, CEO, Harvey Nash Group. “Layered on top of astonishing advances in technology is a political and economic landscape that is dynamic and changing fast, sometimes in surprising ways. However, what is very clear is that many technology executives are turning this uncertainty into opportunity, driving their organization to become more nimble and digital. CIOs are becoming increasingly influential as CEOs and boards turn to them for help in navigating through the complexity, and the threat and opportunity, which a digital world presents.”

Manhal Musameh, Head of IT Advisory from KPMG in Saudi Arabia, said: “IT has become globally significant. Computing environments, digital communities and internet networks are facing increased threats of cyber-attacks that threaten information security around the globe like never before.”

Musameh noted: “The kingdom has launched many initiatives related to cyber security in accordance with the National Transformation Program 2020 as well as Vision 2030. These initiatives are distinct and aim to leverage the readiness of the public and private sectors to confront any possible threats by upgrading labor competencies and tech capabilities to guarantee safety and security. To further these capabilities, we must adopt best practices which will, in turn, make Saudi Arabia the golden Standard for cyber security regionally.”

“Organizations have moved on from a world of strategizing and talking about digital, to one in which they are actually making it happen, and we are now seeing widespread and active implementation,” said Lisa Heneghan, KPMG’s Global Head of Technology, Management Consulting. “The businesses we see as Digital Leaders are taking a pragmatic approach, applying technology and automation across their business, including in back office functions, to create a platform for broader transformation”.

Saudi Gazette