A new report launched today by Siemens has found that almost one third of Irish companies have no digital strategy.
The report highlights that Irish companies have yet to fully appreciate and unlock the value presented by Digitalisation, which involves integrating Big Data and New Business Models to deliver increased productivity and boost competitiveness.
According to the report, while 43% have defined digital strategies for portions of their business, less than one third has such a strategy for the company as a whole.
Furthermore, only 40% are confident their company has the skills required to evaluate emerging technology. Among the key barriers to implementation are funding required (67%), operating costs for licenses and software updates (57%), training employees (47%) and a lack of partners to implement new technologies (37%). One in 3 (33%) also laments the lack of tax advantages for investment in Digitalisation.
Two thirds (67%) say the development of new software and apps is the top tech trend for them, however only one third have actually implemented these. Meanwhile, 66% believe the digital technology of tomorrow will be cyber-physical systems and the Internet of Things (IoT) – the integration of people, products and devices.
Speaking at today’s event, the Chair of the Oireachtas Committee on Communications, Climate Action and Environment, Hildegarde Naughton said, "Today’s report from Siemens is a wake up call for us all to redouble our efforts to ensure that the Irish business community is a global leader in innovation. It is by both Government and business working together and investing together that we can ensure that Ireland is ready to reap the benefits of a digital future."