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Technology leaders around the world are making strides in their technology roadmap, although more than 8 in 10 leaders feel it is difficult to keep up with the pace of change. This is according to new research by KPMG.
KPMG’s Global Tech Report, which surveyed approximately 2,500 executives from 26 countries, including 138 from Australia, found that Australian organizations are splitting their investments across technology domains, with a particular focus on XaaS (83%) and AI (66%) in the following 12 months.
70% of Australian technology leaders see AI as a game-changing technology, with 74% of respondents saying AI is already increasing the productivity of their knowledge workers and improving the overall performance of their organization. However, only 28% of Australian leaders have successfully deployed AI at scale.
Source: KPMG
The research also found that Australian organizations were very similar to their global counterparts in terms of general technological maturity. On average across technology domains, measured between 2023 and 2024, there was a 12% increase in the number of organizations at the highest level of technology maturity (defined as organizations actively achieving business goals and being proactive in adapting strategy as needed).
This advance in digital maturity has helped drive measurable gains, KPMG said. In Australia, 87% of organizations have succeeded in using technology to drive higher profits, and in particular, 55% have achieved a profit increase of more than 10% as a result of digital transformation in the last 24 months. When it comes to AI, nearly 9 in 10 respondents said that the AI initiatives they have implemented are already generating measurable value.
Guy Holland, partner at KPMG in Australia, said high-performing organizations – those that align their technology investments with broader business and technology strategies and successfully balance value creation with risk – capitalize on their excellence, outperform their peers and lead the way. for further competitive advantage in the future.
Source: KPMG
Meanwhile, these high-performing organizations are 22 percentage points more likely than other organizations to rely on customer feedback for their investment decisions.
“The key to technology success is to base investment decisions on real value, draw on data insights, prioritize resilient solutions and scale with confidence. When implementing a new technology, tech leaders should strive to align stakeholders with a clear definition of success that translates into a set of tangible metrics,” said Holland.
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