92 percent business leaders in India believe that they need digital transformation to grow

A whopping 92 percent of business leaders in India believe that every organisation needs a digital transformation to grow their business, a study has revealed. The Microsoft Asia Digital Transformation Study 2016 has revealed that emerging technologies such as artificial intelligence (AI) and Internet of Things (IoT) are viewed by Indians as important and relevant to digital transformation strategies. “Today, cloud-powered technologies such as IoT, AI and advanced data analytics are creating limitless possibilities in transforming the way people work, live and play. This is ushering in societal and economic changes at an unprecedented pace and organisations need to embrace this transformation to stay relevant,” Microsoft India President Anant Maheshwari said in a statement on Tuesday. Further, 88 percent Indians believe that cloud computing and decreasing cost of devices make it more affordable for companies of all sizes to access modern technology and help them gain a competitive advantage. Indians also saw virtual reality (VR) and augmented reality as technology relevant to digital transformation among organisations than the rest of Asia. Fifty-three percent Indians indicated that their organisation had specific digital transformation strategies in place and were progressing in their journey to add digital elements, as against 49 percent Asians. However, security, lack of digitally skilled workforce, lack of supportive government policies and IT infrastructure, uncertain economic environment and lack of leadership were ranked as the top five barriers to an organisation’s digital transformation journey in India. The study polled business leaders working in mid-sized and large organisations from 13 Asia Pacific countries.