KPMG global tech report 2023

Keeping pace with evolving technology trends remains vital to business growth.

Be determined, not deterred. Despite the headwinds of global economic uncertainty, Digital transformation leaders that are committed to their innovation priorities continue to realize value at pace.

In our latest survey – the KPMG global tech report 2023 – digital leaders are bullish in their belief that embracing technology across all facets of their business is bringing productivity gains.

Whether it’s a focus on building trust in their services or investigating how AI can help serve them, our latest report shows that technologic advancement is not being slowed by the uncertain economic climate.

Read the full KPMG global tech report 2023 to understand where your business sits in comparison to the others out there.

KPMG global tech report 2023

Be determined, not deterred. Despite the headwinds of global economic uncertainty, digital...

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Key findings

ESG has become the
priority for innovation

Advancing ESG commitments is the top innovation goal for tech functions over the next two years

Leadership rushes to
embrace emerging tech

The number of businesses with leadership buy-in for emerging tech has more than tripled, from 10 percent to 38 percent

Boost seen in
tech productivity

The largest group of respondents see technology investment driving profit or performance improvement uplift of more than 10 percent, up from 2.5 percent last year

Businesses lean into
the AI boom

AI is seen as the most important technology for achieving short-term ambitions

#1

Lack of coordination is the top hurdle for tech function's transformation progress

67%

say that in comparison to last year they are expected to do more with a smaller budget

Digital transformation

Digitally transformed yet? Or is your organization just going through the motions?

In today's turbulent economy, businesses that are not digitally transformed are at a serious disadvantage. Customer engagement and cybersecurity stand firm as popular focus areas for digital transformation projects.

Trust

The security-by-design imperative: Accelerate digital transformation without sacrificing security.

Cybersecurity and privacy concerns were ranked as primary factors that could slow down transformation progress. And amid the ongoing migration to cloud infrastructures, 40 percent say that enhancing security has become a key goal in their XaaS projects.

ESG

Are your priorities in order? Put ESG at the top of your digital transformation goals.

ESG priorities were listed as the primary innovation goal for technology functions over the next two years. The opportunity here is considerable, and many businesses are focusing on how they can use technology to tackle their environmental ambitions.

Digital ambition

The future is AI-Powered. Are you being left behind?

Fifty-five percent of businesses say progress toward automation has been delayed because of their concerns about how AI systems make decisions. As scrutiny of AI increases, businesses will need policies and practices they can articulate and apply with confidence

Collaboration

The silo effect: How collaboration breakdown is killing digital transformation.

Almost half of businesses (46 percent) say their technology function lacks the governance and coordination it needs to effectively support transformation initiatives. More than a third (36 percent) describe their culture as risk averse.

Digital leadership

Does your organization have the agility to become a digital leader?

Our annual technology survey explores how the top 15 percent of businesses interviewed are transforming at a faster pace with better results than the global average.

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Bradley Styles

Partner, Technology Assurance, Head of IT Audit

KPMG in Singapore

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