Indian Businesses are expected to generate as much as 49 percent of the revenue from a wide range of digitally connected products, services, and customer experiences by 2027, a report showed on Wednesday.
India is leading the Asia-Pacific region, with 97 percent 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.
Regarding business priorities, for 36 percent 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 percent of respondents, respectively.
Around 85 percent of Asia Pacific organizations 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.
Also Read: Data center capacity to grow 6-fold in the next six years: ICRA