Businesses are missing out on the potential benefits of technological developments such as Internet of Things (IoT) and big data because they lack the skills and understanding to develop meaningful projects.
Research from Capita Technology Solutions shows that while the majority of IT decision makers understand the power of digital transformation, few are confident they possess sufficient knowledge to take advantage. For example, 70% say IoT is relevant to their business, yet 71% admit they are unable to capitalise because they don’t have people with relevant expertise. Similarly, 90% of respondents agree that big data could deliver value, yet 64% lack the personnel to deliver.
As well as a skills shortage, digital transformation is being held back because of lack of senior management support, and technology currently unsuitable for delivering on promises. For example, 90% of those questioned say that IoT is at least 12 months away from seeing a workable solution being released, while 3-D printing and artificial intelligence will never being be ready for commercial adoption according to 19% and 15% of IT decision makers.