CCA Tech Report 2024

The onrushing of technology innovations over the past year has increased the fear of missing out (FOMO – Fear of Missing Out) among organisations. This has resulted in “tech envy” and pushed many organisations to adopt an “invest now and figure it out later” strategy. This approach, notwithstanding its potential benefits, may result in rash decisions and risks if not supported by ongoing monitoring of the results and forecasting long-term implications.

By migrating critical systems to cloud platforms, organizations can access better tools to prevent potential failures and minimize unexpected downtime. Cloud computing as the highest priority technology in the region. IT executives see high potential in accelerating development of XaaS platforms which by replacing outdated systems and centralising functions can reduce IT infrastructure complexity and eliminate hardware redundancy.

Information security is becoming a critical component of strategic development of organisations in a digital environment. However, the survey shows that the approach to cybersecurity in many companies is still not mature enough.

Companies that excel at collecting, processing, and analyzing large volumes of data unlock opportunities to improve operational efficiency, predict trends, and extract actionable insights.  

Data is the main driver of digital transformation, underpinning and advancing its progress. Data systems that demonstrate a high level of maturity, robust security, and effective manageability form the basis for fostering innovation, improving customer service quality, and increasing competitiveness.