Home » Canadian technology leaders plan to invest heavily in major emerging technologies: KPMG

Canadian technology leaders plan to invest heavily in major emerging technologies: KPMG

by admin

Despite near-term recession fears and global talent crisis, technology is poised to reshape the world of business by 2024

Toronto, November 24, 2022 /CNW/ – most Canada’s According to a recent Global Technology report, large organizations are turning to key emerging technologies to enhance their products and services, increase operational agility and efficiency, protect market share, and win new business. I’m here. Investigation By KPMG International.

KPMG Logo (CNW Group/KPMG LLP)

Over the next two years, nearly all technology leaders (95%) surveyed their private and public sector organizations. Canada Research has revealed that the company plans to invest in Web3, the third edition of the Internet. Over the same period, nearly 70% plan to invest in fifth-generation wireless technology (5G) and edge computing, and 67% plan to invest in quantum computing, with more than half (54%) are planning to invest in the metaverse. More than 6 in 10 plan to invest in virtual and augmented reality technology.

The findings support KPMG’s recent Global CEO Outlook survey, in which Canadian chief executives ranked emerging or disruptive technologies as the second risk to their companies’ growth over the next three years. , was secondary to regulatory concerns.

Say, “The race to change is on.” Sanjay PathakTechnology Strategy and Digital Transformation Services, Partner and National Leader, KPMG Canada“In the face of rising costs, a potential recession, and a global talent crisis, digital leaders need to build business resilience, leveraging data and analytics to make better decisions and grow. We are looking to new technologies to facilitate

“It may seem counterintuitive to invest in innovation on the brink of a recession, but these technologies will make a difference and will separate digital leaders from lesser countries,” he says. . “We increasingly see digital leaders becoming proficient with new technologies. These new advances will reshape the world of business within the next few years. is only an enabler, it must be fully aligned with the business, purpose and strategy, and risks must also be carefully assessed, planned and mitigated.”

Planned technology investment:

5G

edge computing

quantum
computing

VR/AR

Web3*

Metaverse*

Canada

global

Canada

global

Canada

global

Canada

global

Canada

global

Canada

global

have already invested

Four%

6%

6%

Five%

Four%

Five%

2%

1%

1%

1%

Plans to invest in the next 6 months/Currently evaluating

14%

8%

Ten%

9%

Ten%

8%

2%

1%

We plan to invest in the next 6 months to 1 year

twenty one%

twenty four%

twenty two%

twenty three%

twenty three%

twenty four%

18%

19%

12%

16%

13%

12%

Plan to invest in 1-2 years

35%

33%

37%

34%

34%

35%

42%

41%

44%

43%

41%

43%

Plan to invest in the next 3-5 years

26%

29%

twenty four%

28%

28%

27%

38%

38%

39%

37%

42%

40%

* The remaining percentage has no plans to invest or explore further.

There are many talent wars

The survey found significantly more Canadian organizations said they were behind schedule in implementing their digital transformation strategies than their global peers.Half of technology leaders Canada (51%) said programs were lagging or slowing despite executive support and funding, compared to just 40% globally.

This is consistent with previous KPMG research that found that many such programs have been or were about to be done. Put on hold Not only is it necessary to prepare for the impending recession, but it is also necessary to deal with employee burnout and skilled talent shortages.

Technology leaders also identified talent shortages as one of the two major barriers preventing organizations from adopting new digital technologies. Another barrier is that organizations are risk averse and unwilling to let go of existing procedures.

“Companies that come out on top during a recession will continue to focus their investments on critical business priorities, build use cases for disruptive technologies, and develop the necessary skill sets in-house or by establishing strong ecosystems. is a company that reliably develops Cathy PennerTechnology Enterprise Solutions, Partner and National Leader, KPMG Canada“So when the economy picks up, they are ready to leverage these investments and drive extraordinary growth.”

All survey respondents acknowledged the positive impact of their digital transformation efforts to date: increased profits and business performance.

Over the last two years, a quarter (26% vs. 38% globally) reported a 6-10% increase in profits as a direct result of their transformation efforts. A further 19% (20% globally) increased their profitability by 11% or more, and more than half (54% compared to 42% globally) increased their profits by 1-5%.

“Leaders are looking more closely at their technology and digital investments,” says Penner. “The need for a demonstrable return on investment and a scalable delivery model is top of mind for most people.”

Explore other insights related to cloud, enterprise technology and cybersecurity here.

KPMG International surveyed over 2,200 technology executives from the world’s largest organizations across 15 countries. Canada Nearly half (48%) of respondents are headquartered in the United States. Among Canadian respondents, 17% $20 billion When $50 billion Annual Gross Income; 10% $10 billion but less $20 billion26% reports between $5 billion When $10 billionbetween ; and 42% billion dollars When $5 billion in earnings. His 65% of Canadian respondents work for organizations with more than her 10,000 employees. More than half (54%) are public companies, 22% are private companies, and the remaining 25% are government or non-profit organizations.

About KPMG Canada

KPMG LLP, a limited liability partnership, is a Canadian owned and operated full service audit, tax and advisory firm. For more than 150 years, our professionals have provided consulting, accounting, auditing and tax services to Canadians, inspiring confidence, empowering change and driving innovation.our guide core values INTEGRITY, EXCELLENCE, COURAGE, TOGETHER, FOR BETTER Canada, serving clients in the private and public sectors. KPMG is consistently ranked first in Canada’s A top employer and one of the best places to work in the country.

The company is incorporated under the laws of Ontario It is also a member of KPMG’s global organization of independent member firms affiliated with KPMG International, a UK privately held company limited by guarantee. Each KPMG office is a legally separate and independent entity and describes itself as such. For more information, see: home.kpmg/ca

Source: KPMG LLP

Sision

Sision

View original content and download multimedia: http://www.newswire.ca/en/releases/archive/November2022/24/c8156.html

You may also like

Leave a Comment