The digital transformation journey is an important strategic consideration for all sectors, but none more so than the technology sector. This means it has to do two things simultaneously: lead by example and rethink its own strategies.
As tech innovation offers almost endless potential, many tech leaders are afraid of falling behind. This can lead to the temptation to make hurried decisions, which may prove misguided, risky and expensive.
In KPMG global tech report: Technology insights, our insights show that much of the tech sector’s digital transformation success is a result of discipline and targeted investments. Through strategic spending decisions, such as prioritizing AI and environmental, social and governance (ESG) activities, the industry has become skilled at protecting its transformation progress from volatility.
Survey participants
Key findings for technology leaders
Technology cost shock
The tech industry is preparing itself for cost shocks.
Three-quarters (76%) of tech executives say their total cost of ownership and cost-benefit-analysis forecasts are usually accurate. The same proportion say they run calculations to forecast the potential value of the technology before investing, which is slightly above the cross-sector average.
Technology and ESG
ESG goals are a key focus for how tech workforces leverage digital transformation.
Tech is one of the sectors in our survey that is most likely to prioritise technology investments based on employee feedback, with a five percentage point lead over the global average. 73% of tech executives say their workforce leverages its organisation’s tech investments so they target their sustainability and social goals, which slightly higher than the cross-sector average.
AI implementation
Tech firms plan to keep a democratised approach with AI experiments.
Most sectors are working toward a centralised approach to AI implementation. But the tech industry plans to continue developing AI governance policies and democratising its approach to AI experimentation as it builds more experience in that area.
About KPMG's global tech report for the technology sector
For technology business leaders seeking to harness technology to help fuel operational efficiency and growth, our report provides insights into key issues that are challenging the sector. From mitigating risks in technology integration to securing operations against escalating cyber threats, we explore strategies tailored to meet the sector’s unique challenges.
We want everyone in a tech company experimenting and using AI daily. Yet, it’s important to balance this with a centralised governance layer so companies have a framework for their workforces to operate within. This should allow tech companies the space to continuously adapt and refine their AI strategies while protecting their values, security and customers.
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KPMG global tech report 2024: Technology insights
Explore key insights fuelling digital innovation across the technology sector.
