Colin Reilly, Partner, SAP Practice Lead and Technology Consulting CIO at EY Ireland, shares the latest findings from the EY Tech Leaders Outlook Survey 2023.He delves into the key stats and insights surrounding cloud strategy, data and analytics, emerging technologies, Internet of Things, and 5G in Irish organisations. Reilly sheds light on the current state of technology adoption and provides insights for future-focused businesses.
IOT and 5G-related technologies
Around 38% believe IOT and 5G-related technologies are the top two emerging technologies that will deliver the most value for their organisation, suggesting an emerging trend towards a systemisation of all processes to increase efficiency, reduce costs, and help eliminate points of failure.
Organisations using virtual replicas of physical assets or digital twin modeling software with IOT connectivity are gaining traction and enabling organisations to detect and prevent potential issues.
Cloud Adoption
Around 15% of businesses had all of their IT systems on the cloud, with more than a quarter (26%) pursuing a full cloud strategy and are in the system migration process.
However, 39% decided to adopt the cloud for non-critical and less sensitive data handling systems and continued hosting core business applications in on-premise data centers. Major cloud adoption barriers include the cost and complexity of migrating systems from established infrastructure to the cloud.
Data centricity
Concerning data centricity, 39% of Irish technology leaders believe data and analytics are some of the top emerging technologies that will deliver the most value for their organisations over the next two years. However, only 11% believe their organisations are data-centric and fully leverage their data analytics capabilities for business objectives.
"Irish organizations have a way to go in terms of realizing their full potential when it comes to data. It is the key currency of the digital age. Those that have changed their operating models to become more data driven, focused on data, intelligence and insights are unlocking new value from operational customer and market data, giving them a huge advantage over their less data focused competitors," said Reilly.
- The latest findings from the EY Tech Leaders Outlook Survey 2023
- Key stats and insights surrounding cloud strategy, data and analytics, emerging technologies, Internet of Things, and 5G in Irish organisations
- The current state of technology adoption
