Deloitte India survey unveils India Inc.’s top tech priorities for 2024: Businesses focus on cybersecurity, cloud and AI for digital transformation
Indian businesses are rapidly embracing digital adoption; however, tech leaders face challenges such as optimising investments and building the right digital capabilities. Deloitte India’s recent report, “Sprint to Excellence: Voice of Technology Leaders,” highlights that 65 percent of Indian businesses prioritise cybersecurity as their top digital transformation initiative. This heightened focus on cybersecurity spans various sectors, with the consumer industry leading IT investments at 31 percent, followed by Energy, Resources & Infrastructure (ER&I) and Life Sciences & Healthcare (LS&H) at 21 percent each.
Cloud computing and emerging technologies, such as AI/ML, are the other two priorities, with 62 percent and 54 percent of respondents, respectively, focusing on these areas to accelerate digital adoption. Notably, the financial services and consumer industries invest significantly in new technologies, underscoring a strategic shift to improve operational efficiency and enhance customer experiences.
According to the report, in the next 2–3 years, GenAI will dominate CXOs’ investment focus. About 94 percent of respondents view it as a future disruptor and are eager to explore its potential across their businesses. Key sectors for these investments include financial services, consumer and Technology, Media & Telecommunications (TMT).
Industry 5.0 and Augmented Reality (AR) are also emerging as significant priorities, with 55 percent and 44 percent of respondents, respectively, indicating a shift from mere automation (Industry 4.0) towards a more human-centric approach.
Speaking on the survey analysis, Deepa Seshadri, Partner at Deloitte India, said, “In today’s rapidly evolving business landscape, digital transformation is not just another option but a strategic imperative for businesses in India. Per our latest report, tech leaders are at the forefront of driving business change amid economic, geopolitical and technological disruptions. They are not merely facilitators but pivotal drivers of business growth and innovation. Organisations can enhance efficiency, improve decision-making and boost security by strategically integrating essential technologies, such as cybersecurity, cloud computing and AI within the business fabric.”
She further highlighted, “Technology mentorship programmes are emerging as vital tools for bridging skill gaps, sparking innovation and empowering employees, ensuring businesses are well-equipped to navigate the complexities of the digital age and foster sustainable growth through tech knowledge transfer.”
Deloitte’s recommendation for tech leaders based on the survey analysis:
-Invest in data-driven decision-making: Use analytics and data to inform technology adoption and optimise resource allocation
-Embrace new partnerships: Form strategic alliances with technology providers and talent development experts to drive transformation
-Prioritise cybersecurity: Implement proactive cybersecurity measures, threat detection and incident response protocols
-Empower tech leaders: Strengthen collaboration between technology leadership and business functions to foster innovation and drive growth
-Bridge the talent gap: Implement robust upskilling and reskilling programmes to equip the workforce with the necessary digital skills
Other key insights from the report:
Technology integration in sales and marketing
About 73 percent of respondents integrate future technologies into sales and marketing, with 70 percent focusing on operations and maintenance. This shift highlights the growing role of technology in enhancing customer experiences and operational efficiency.
Emerging focus areas
While sales and marketing are the current priorities, there is a rising emphasis on supply chain logistics and human resources for future technology applications. Technologies such as GenAI, Industry 5.0 and spatial computing are set to improve production, supply chain management and talent acquisition.
Talent and technological complexity
About 86 percent of respondents identified reskilling, upskilling and cross-training existing talent as major challenges. Additionally, 71 percent highlighted the complexity of integrating new technologies into existing business models. These challenges are particularly significant in the financial services, TMT and consumer industries.
From enthusiast to leader: Nurturing technology mentorship and innovation
About 75 percent of participants are technology enthusiasts. This may lead to a boost in the demand for mentorship programmes to bridge skill gaps and drive innovation. However, less than 50 percent of organisations have formal technology mentorship programmes, often relying on cross-functional initiatives to support learning and development.
