Many Companies Are Just Spectators When It Comes To Digitization

Although digitization has numerous advantages, many companies find it difficult to successfully advance digitization. According to a recent study, the majority fail to implement a digital strategy.

Digitization has influenced our society for more than two decades, makes everyday life a lot easier, accelerates our economy, and enables new business models and sources of income. Many companies know this – and yet they are reluctant to implement the long-overdue transformation.

A current study by the management consultancy Staufen shows that there is a lot of catching up to do, especially in the area of artificial intelligence and machine learning. And that although the majority are convinced of the benefits.

Companies don’t use Artificial Intelligence

The companies have classified technologies such as artificial intelligence (AI) and machine learning (ML) as the most important future drivers. Nevertheless, only one in four companies has implemented specific projects here. The topics of smart data and predictive maintenance are also important for the participants. The study also shows that predictive analytics, robotic process automation (RPA), and platforms for the industrial IoT are rated highly by the study participants.

However, only 27 percent of the companies surveyed have actually implemented AI and ML projects. There is a little more in the areas of smart data (38 percent) and predictive maintenance (34 percent).

Majority of Companies without a Digitization Strategy

Companies that already have a cross-company digitization strategy do significantly better. Around every second of these has already successfully used artificial intelligence and data analysis. But that’s only 11 percent. These digital pioneers have so far been driving the fundamental transformation of their industry almost alone.

• Half of the companies surveyed are still in the implementation phase. In addition, every fifth company has not even got beyond the status of planning.
• The majority of companies have not implemented a successful digitization strategy. One thing is clear: although companies have clear goals with regard to digitization
• First, companies must be able to transfer the findings on the subject of digitization into business practice and
• Second, expand your options for action – including new business models.
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