06 March 2024
Greg Hudson, chief portfolio officer, M247
There’s no shortage of emerging technology available to businesses in today’s ‘information age.’
The arrival and popularisation of generative AI is just one example that dominated the headlines last year. And in the background, the appetite from businesses to adopt all things new – from digital network connectivity to more sophisticated cybersecurity – is continuing to grow and grow. Research from Gartner this year revealed that 91% of organisations are engaged in some form of digital initiative and for senior business leaders, 87% of those surveyed believe that digitalisation is a priority.
This is great news for business leaders, who seek to drive greater efficiencies and stay ahead of the competition by adopting a tech-led approach. But those tasked with executing their organisation’s digital transformation – and working with this technology on a day-to-day basis – may be showing signs of fatigue.
The problem is that every new tech breakthrough is hailed as ‘game changing’ and it has sparked what’s known as the ‘change fatigue’ phenomenon: a state of exhaustion and resistance in the face of persistent transformation projects.
Research from AlixPartners found that, while the majority (98%) of CEOs expect to transform their business model in the next three years, 72% are concerned about their team’s capacity to handle the transformation. And similarly, a report from SolarWinds found that only one in five (22%) IT workers have developed their understanding of how new AI tools, such as ChatGPT, actually work..
Build vs buy
Yet, change fatigue aside, digital transformation remains a key strategic objective for most organisations. CTOs and other tech leaders will need to think about how they can successfully incorporate these new technologies into their business, without displacing or overwhelming their staff in the process.
Often, this is a question of ‘build vs buy’ – an age-old dilemma that has faced businesses at every technological turning point throughout history.
While some organisations have access to the resources needed to develop, or build, digital technologies in-house (budget to invest in R&D; training to develop new digital skills in staff; and time to roll-out new platforms internally), smaller businesses are without that luxury. In these cases, partnering with a specialist is often the best point of action.
Managed service providers (MSPs), for example, remotely manage their clients’ IT infrastructure and end-user systems, including network and infrastructure management, security and monitoring, and implementation of new technologies. MSPs also provide business continuity to their customers and can remedy staff/skills shortages by taking on the burden of troubleshooting technological issues.
In this sense, they can become a vital support to smaller organisations, helping them to navigate their digital transformation and recommending which new technologies meet their business needs.
Complexity of new tech
When we look at how advanced new technology is today, we start to see how important the ‘build vs buy’ question is. AI, 5G, and the Internet of Things (IoT) are just a few that are set to develop massively over the years ahead.
AI will bring with it the ability to mine complex data and process patterns to allow for the automation of business operations 5G networks and wireless leased lines (or radio connectivity) will deliver ultra-fast speeds for data transmission; and IoT will expand exponentially as more and more devices become digitally enabled and inter-connected.
Each of these technologies promise a goldmine of efficiencies and benefits to make business operations faster, deliver quality data, and automate routine aspects of workflows. However, any digital transformation project will require a heavy lift to get new systems up and fully integrated into existing IT infrastructure – not to mention the necessary training to get workers up to speed with the new technology.
Final words
For businesses looking to stay competitive and remain on the front-foot in today’s digital landscape, they must be taking their first steps to embracing this new technology today, not tomorrow. When embarking on a digital transformation project, businesses must conduct their own assessments as to whether they have the resources to do it in-house. If not, and their IT teams face a road of fatigue ahead with tech breakthrough after tech breakthrough, seeking out the support of dedicated MSPs can help to create a more seamless digital transformation journey.
As AI, IoT and 5G continue to advance and work together in the years ahead, this convergence will unveil even more opportunities for innovation and efficiency. The businesses who are beginning to adopt these new technologies will be best prepared to thrive in the new digital age – but only if they get real when it comes to build vs. buy.
