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Few would doubt the impact that digital technologies are having on industries and the organisational set-up of companies. 76% of companies surveyed by MIT Sloan say digital technologies are already disrupting their industry to a great or moderate extent1 and this number will likely rise as automation intrudes further into an increasing number of professional jobs.

Despite this recognition, the majority of companies are not ready for what comes next. More than two-thirds (68%) admit they are unprepared for the ‘as-a-Service,’ economy implied by digital technologies. The technical skills and cultural mindset needed to transform the potential of technology into technology driven results is often lacking. Furthermore, with only 13% of I.T. budgets on average spent on new opportunities, the business-value of I.T. is often missed3. CIOs are in many ways ideally placed to help deliver the change needed throughout the organisation – although they will need help from a tech-savvy board and other executives. At present, only 38% of executives think their company’s senior leaders fully understand the Internet of Things (IoT)4. As the boundaries between business model and technology increasingly blurs, such a status will amount to a dereliction of duty in the very near future.

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