By the Numbers: Digital Thread

Knots in the Digital Thread

Percentage of respondents who ranked these digital transformation challenges as “very large” or “large.”

Top 5 Technologies in the Works

1. Artificial Intelligence: 56%
2. Machine Learning: 55%
3. Internet of Things: 50%
4. Software-Defined Networking: 45%
5. Software-Defined Storage: 44%

Percentage of respondents piloting, researching or on the radar of companies over the next 12 months.

— 2018 State of Business Transformation 2018, IDG

Digital Transformation

1 in 5 executives will fail to act to bring about necessary digital transformation.

— Predictions 2018: A Year of Reckoning, Forrester Research, November 2017

57% of executives say IoT-related analytics will be valuable to their organizations in the next 12 months.

— Dun & Bradstreet/Forbes Insights 2017 Enterprise Analytics Study, June 2017

Worldwide spending on digital transformation technologies (hardware, software, and services) is expected to be nearly $1.3 trillion in 2018, an increase of 16.8% over 2017.

— Worldwide Semiannual Digital Transformation Spending Guide, International Data Corporation, December 2017.

$662B

The majority of digital transformation spending in 2018 will go toward technologies that support new or expanded operating models as organizations seek to make their operations more effective and responsive by leveraging digitally connected products/services, assets, people, and trading partners.

— Worldwide Semiannual Digital Transformation Spending Guide, International Data Corporation, December 2017.

47% of respondents say their organizations either had an established IoT strategy with applications in production (19%) or have pilot projects underway (28%). In contrast, only 25% of executives are investing in artificial intelligence (AI).

— 2017 Digital Transformation Study, Constellation Research, October 2017

Digital Disruption

In 1964, the average tenure of companies on the S&P 500 was 33 years. In 2016, that narrowed to 24 years, and is forecast to shrink to just 12 years by 2027.

— 2018 Corporate Longevity Briefing, Innosight, February 2018

Top 5 AI Challenges

1. Lack of appropriate skills and talents within the organization: 64%
2. Cybersecurity and data privacy concerns: 63%
3. Employee concern about job loss: 61%
4. Resistance to change: 57%
5. Belief that human judgement is superior to machine judgement: 57%

People and cultural issues dominate the top challenges in AI Implementation.

— Turning AI into Concrete Value, Capgemini Digital Transformation Institute, September 2017