Digital infra to drive 49% revenue of firms by 2027
For CIOs in India, ‘high energy prices’ is the topmost concern in 2023, followed by ‘high inflation’ and ‘growing geopolitical tensions’ as other key challenge areas: Report
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New Delhi: Indian organisations are expected to generate as much as 49 per cent of the revenue from digitally connected products, services, and customer experiences by 2027, a report showed on Wednesday. India is leading the Asia-Pacific region, with 97 per cent of businesses using or planning to use edge computing in business operations, according to the 'CIO Technology Playbook 2023' by global technology company Lenovo and chip-maker AMD.
"With the rise of digital capabilities, businesses are leaning towards data-driven innovation to drive effective business decisions. This means staying on top of rapid innovations in Cloud, Edge, AI/ML that must meet the existing infrastructure with as-a-service offerings. CIOs today have a bigger role to play," said Amit Luthra, Managing Director, India, Lenovo ISG.
For CIOs in India, 'high energy prices' is the topmost concern in 2023, followed by 'high inflation' and 'growing geopolitical tensions' as other key challenge areas. "We hope to inspire and inform Indian businesses as they navigate the rapidly changing and competitive landscape. This report underscores our commitment to leveraging data and innovation to create a better future for all," Luthra added.
When it comes to business priorities, for 36 per cent of CIOs in Asia, driving revenue and profit growth is the top priority, followed by driving higher customer experience and satisfaction, and cost optimization and savings for 32 per cent respondents, respectively. Around 85 per cent of Asia Pacific organisations agree that digital infrastructure is essential to achieve business goals. To accelerate their digital transformation (DX) and modernize legacy IT infrastructure, CIOs called out improving cyber resiliency and automating digital infrastructure management as the top investment priorities for 2023.
"The 'CIO Technology Playbook 2023' will act as a comprehensive guide to address key issues such as maximizing existing investments, addressing security and compliance concerns, and ensuring scalability and reliability of the digital infrastructure," said Vinay Sinha, Managing Director, AMD India.
