New survey from Broadridge and G100 Network uncovers how CEOs discover, introduce and implement emerging technology at their organizations
Nearly 80% of CEOs and their direct reports say that less than half of all innovation projects at their organization succeed, according to a survey released from Broadridge Financial Solutions, a global Fintech leader, and G100 Network. The survey of CEOs and their direct reports from Fortune 1000 companies across a diverse range of industries uncovers how executives discover and implement emerging technologies.
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In the midst of this worldwide health crisis, companies have been forced to accelerate and adapt their digital strategies. No longer do CEOs have the privilege of a measured approach to digital transformation; instead, they have been thrust into digital leadership regardless of whether they are prepared. Even though the survey was fielded pre-Coronavirus lockdown, the outcomes are even more magnified.
When it comes to adopting emerging technologies such as Artificial Intelligence, Blockchain, Cloud and Digital, CEOs agree that these technologies can provide immense value across their enterprises. Survey respondents identified the biggest benefits of these emerging technologies in terms of business transformation as: improved client experience and retention (67%), increased efficiency (67%) and new revenue opportunities (57%). According to the survey, the three biggest hurdles firms face in terms of technology transformation are access to qualified talent (55%), legacy systems architecture (54%) and an internal culture of resistance to change (52%).
“Market uncertainty and volatility are creating immense pressures for companies across industry sectors, leading to an even greater reliance on new technology to drive change across the enterprise,” said Tim Gokey, CEO of Broadridge. “Forward-thinking CEOs who embrace next-generation technology to drive their business roadmap against specific success metrics are best positioned to succeed in this rapidly evolving environment. Recent events have also highlighted the importance of new technologies including Digital and Cloud to adapt to a changing world.”
