A survey conducted by Fujitsu has revealed that 89 percent of 1,614 businesses across 15 countries have undertaken digital transformation initiatives, leveraging digital technologies such as artificial intelligence (AI) and the Internet of Things (IoT).
Of these initiatives, 34 percent had already delivered positive outcomes, according to Fujitsu's Global Digital Transformation Survey.
Looking at digital transformation initiatives, marketing is the top functional area (38 percent), followed by workstyle (35 percent) and operation and maintenance (30 percent), according to Fujitsu. In terms of industry-specific initiatives, finance and insurance (51 percent) and healthcare (51 percent) are the major areas of digital transformation, followed by manufacturing.
The top three outcomes of digital transformation were increase in revenue (46 percent), improvement of customer relationships (44 percent) and strengthening competitiveness of products (36 percent), according to Fujitsu.
Figure 1: 89% of business leaders reported that their organizations have embarked on digital transformation initiatives.
Results of the survey showed that important factors for successful digital transformations are having talented staff with the right skills (19 percent), strong leadership (18 percent) and streamlined organizations and process (17 percent). In addition, the survey also revealed that, to successfully carry out digital transformation, it is necessary to co-create with technology partners having technological capability as well as understanding of business and alignment with the vision and strategy.
High perceptions of AI
Business leaders have high expectations regarding AI, with 77 percent of them viewing AI as an opportunity. Most of them also agree that AI will enhance the capabilities of people in the future, according to Fujitsu.
Business leaders also responded that the most important capabilities that people need to strengthen in the digital era are professional knowledge of digital technologies (18 percent) and creativity and imagination (17 percent), among other necessary capabilities.
The results also indicate that, to successfully implement digital transformation initiatives, it is important to foster the development of digital talent or acquire such talent.
Article originally featured on EETimes Asia.