DEVELOPING technologies including AI, cloud computing, automation and data and analytics are set to almost double in usage this year, according to new research.
The proportion of businesses using these technologies will nearly double to 40 per cent throughout 2024, up from 22 per cent, according to a survey of 504 UK business leaders from Beaming.
Almost a fifth, 18 per cent, of companies cited transforming products, services and operations as the key driver of implementation.
Responding to the findings, Sachin Agrawal, Managing Director of Zoho UK commented: “The findings show UK businesses are becoming more focused on fast moving technologies such as AI as part of digital transformation. AI can play an important role in streamlining important business operations such as data analysis, forecasting and customer service, providing a competitive edge.”
“To maximise the benefits, these projects should be implemented with a strong digital toolkit behind them, combining technology with the right leadership style, culture and focus on customers and employees. To derive the best return from investment in digital tools, businesses must ensure apps and platforms can seamlessly integrate to get a full picture of real-time business performance and other data-driven insights which improve aspects such as customer experience. This will ensure businesses are flexible, agile and adaptable, which in turn drive business resilience.”
“The ability to adapt quickly before a predicted problem becomes a huge challenge, or to plan to take advantage of a predicted opportunity is only possible through AI-driven data insights. Today, digital transformation is no longer a nice-to-have, but a must-have, to succeed in a highly competitive market that is impacted by a continued flurry of macro-economic pressures.Those who fail to innovate risk being left behind.”
The uptick in usage is driving a surge in critical resources, with the acceleration of adoption increasing the demand for energy, computing power and network capacity by an estimated 30 per cent this year.
The report revealed that UK businesses will require 19 per cent more computing capacity in 2024, with manufacturing, finance & accounting and hospitality & leisure propelling the increase.
Sonia Blizzard, Managing Director of Beaming, said: “Digital transformation represents a fundamental shift in how businesses operate, and that shift is accelerating. Our research shows that while many businesses are making significant strides with technology, there’s a pressing need for additional resources to support them to make cost-effective, sustainable and humane choices.”
It also stated that demand for internet and network capacity will rise by 30 per cent to handle extra data traffic behind digital transformation.
Andy Ward, VP International for Absolute Security, commented “As businesses rapidly embrace digital transformation, integrating advanced technologies such as AI, automation, and cloud computing, they must also consider the cyber security risks of each.”
With 40% of UK businesses expected to adopt these technologies this year, it is imperative to adopt a robust cyber resilience strategy, by focusing on threat protection, deterring attacks, and preparing to defend against cyber attacks. Achieving this involves ensuring clear visibility and effective control over networks, and demanding a robust framework to improve network supervision and establish a solid defensive stance.”
John Kirk, CSO at ITG said: “The insatiable demand for AI adoption is already fuelling a wave of increased emissions, leaving big brands open to scrutiny around their sustainability credentials. Forward thinking organisations will need to look again at the impact their operations are having on the environment and work with partners in the supply chain such as creative agencies to provide a more open and honest account of their activities. Customers now expect both accountability and a clear action plan to offset or reduce emissions, and without it, trust will be lost.”
Nearly one in seven companies pushing ahead with digital transformation programs were unable to say how their technology adoption plans would impact their need for computing resources, energy and connectivity.
