As per a Gartner report on emerging risks, companies continue to prioritise and fund digital initiatives. Among these, two-thirds not only fail to deliver on their promises but also reveal ‘enterprise weaknesses, causing organisations to see a gap between expectations and results.
With the advent of digital technology, there have been many challenges that are created in different genres. Tech leaders are of the opinion that most of their problems revolve around security threats and data privacy.
Here’s a rundown of some daunting challenges that tech leaders are likely to see in 2020
- Gig Economy Issues
Various tech leaders have opined that companies frequently address digital skill gaps with contract workers and other flexible staffing strategies. However, tech executives see the rise of the gig economy, as it creates several challenges, including that of keeping sensitive company and personal data secure.
They even say that security is not the only worry in the gig economy. Top leaders say that finding the right talent is always a top concern for companies. They say that on the one hand, the growth of gig economy presents a huge opportunity by widening the pool of talent a company can access, and on the other hand, having a tech team dedicated to working towards a single goal, has its advantages.
- Data Privacy
There have been ongoing concerns about data governance that needs to be addressed on multiple levels by various departments within an organisation. Industry experts have said that these regulations often carry stiff penalties for non-compliance.
Some even said that regulations across states are likely to be similar, and the easiest way to abide by them would be to identify the most restrictive way to ensure compliance.
- Tech Measurements With ROI
Several companies that consider advanced technologies like AI and robotic process automation (RPA) would probably need to weigh the benefits of innovation with benefits that can be proved. Tech leaders say that it’s about finding the right business case. For this, it’s important to balance resources to support this endeavor along with the business growth. Problem is that resources are never enough, to execute every good idea that the business can think of.
- Cloud Strategies
There are several cloud-first strategies that lacked vision. It may lead to problems that might cause organisations to pull back. Some tech evangelists argue that it’s an unforced error. He even said that as more and more organisations begin to adopt the hybrid cloud, there would probably be a trend of cloud repatriation.
However, the best thing for companies would be to analyse the data and workloads they have, before contemplating the move to the cloud. This would be to figure out the costs and potential service impacts involved.
- Cultural Change Matters
In this digital era, digital transformation requires an ongoing commitment that evolves over time. Various industry leaders have opined thus.
Some even said that in the upcoming years, business leaders would probably need to understand that the digital transformation doesn’t end, but becomes a part of how business leaders solve challenges.