Global Tech Report 2024: Invest strategically, avoid mistakes

Technical innovations offer endless potential. At the same time, many companies fear that they will not be able to keep pace. However, those who make hasty decisions now run the risk of them proving to be too risky and costly. The key question is therefore: how can opportunities be utilised and costly mistakes avoided?

The KPMG Global Tech Report 2024 answers these questions, based on the findings of 2,450 tech professionals from 26 countries and nine industries as well as the experience of our experts. The main aspects covered are as follows:

Companies should not make their decisions dependent on current trends, but should instead focus on their own strategic goals. These should be based on evidence-based and reliable data, particularly in the case of innovative developments in artificial intelligence.

Companies should define clear metrics to evaluate the success of their innovative projects. These should be monitored regularly and adapted to internal and external changes.

Innovation is not limited to new technologies. Rather, companies should also rely on partners to share risks and investments. They should also utilise innovative networks to gain access to the latest ideas and solutions.

In order to achieve valuable results in the long term, new technical developments should be designed responsibly from the outset. An ethical approach to innovation creates additional trust in brand integrity.

Companies should establish a system that ensures that data can be used reliably and efficiently for fast, well-founded decisions. A strong database therefore supports the development of any innovative solution.

Companies should regularly review their employees' knowledge and attitudes towards artificial intelligence. Gaps in knowledge should be closed and continuous learning promoted in order to improve collaboration between different teams and increase the company's innovative strength.

Companies should reduce technical debt in a structured manner. To this end, concrete plans should be drawn up to sustainably optimise IT systems and enable long-term innovation.