INFOGRAPHIC
" When it comes to developing smart innovation strategies , technology leaders must ask themselves if they ' re innovating to achieve a specific business goal ," said Kim Bozzella , Global Leader of Technology Consulting , Protiviti .
" It ' s easy to fall into the trap of innovating for the sake of innovation . This is especially important as the uncertain economic outlook prompts companies to scrutinise every dollar of spending to ensure it benefits the bottom line .
" Creating a roadmap that measures immediate and long-term innovation progress and how these investments map to business objectives is critical to navigating the current business environment ."
Obstacles to innovation
Technical debt , the accumulated cost of maintaining and supporting legacy IT systems , is a leading obstacle that impacts nearly 70 % of organisations ' ability to innovate – and is expensive to tackle .
On average , surveyed organisations invest more than 30 % of their IT budget and devote more than 20 % of their resources just to tame technical debt .
The talent war – one of the top risks facing organisations today – is also affecting technology teams , challenging leaders to attract and retain top talent .
Complicating matters is the need to ensure that new hires and current technology employees have the necessary skills for the next generation of emerging technologies .
Among respondents , the largest talent gaps organisations face are in the areas of design thinking ( 37 %), solution architecture ( 37 %), enterprise agility ( 35 %) and technical knowledge ( 31 %).
IT ' S EASY TO FALL INTO THE TRAP OF INNOVATING FOR THE SAKE OF INNOVATION .
Strategies for driving technology adoption and innovation
While cloud and the Internet of Things ( IoT ) have become table stakes for organisations , the pace of their adoption is showing promising signs for other emerging technologies . Among the top technologies organisations are planning to implement in the next three years are :
• Web3 ( 41 %)
• Robotics ( 38 %)
• Low code / no code platforms ( 38 %)
When it comes to the use of innovation strategies , 94 % of organisations are employing agile development and 65 % have found it delivers the results they wanted ; while 90 % of organisations are using design thinking and 57 % have found that strategy delivers desired results . x www . intelligentcxo . com
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