The digital transformation journey is an important strategic consideration for all sectors, none more so than technology.
This means the tech sector has to do two things simultaneously: lead by example and rethink its own strategies. Yet, like all industries, the tech sector also faces challenges — and opportunities — in the rapidly evolving tech landscape. For example, the KPMG 2024 Technology and Telecommunications CEO Outlook showed that, in 2024, a top-three challenge for tech and telecommunications CEOs has been the adoption of generative AI.1
The tech sector’s position ahead of other sectors can be attributed to its formula for success. Much of the tech sector’s accomplishments are the result of discipline and targeted investments. Through strategic spending decisions, such as the prioritisation of AI and environmental, social and governance (ESG) activities, the industry has become skilled at protecting its transformation progress from volatility.
This and other valuable insights are provided in our Global Tech Report 2024 — a survey of 2,450 executives from 26 countries, including 490 leaders from the tech sector.
Key findings from the research
The tech sector is targeting profitability
This year’s survey reveals an increase in the number of tech professionals who say that technology has directly improved their organisation’s profitability over the past 24 months.
Some of the most notable growth in profitability, with increases of 10 percentage points or more, has resulted from efforts in AI, data and analytics, everything as- a-service (XaaS), cyber security and modern delivery.
ESG goals are a key focus for tech’s digital investments
Today’s tech organisations are recognising the importance of using tech for good. About three-quarters of tech executives report that their tech investments directly target their sustainability and social responsibility goals, surpassing the cross-sector average.
Tech sector plans to maintain a democratised approach with AI experiments
Most sectors are working toward a centralised approach to AI implementation. But the tech sector plans to continue developing AI governance policies and experimentation practices in a democratised way as it builds more experience in this rapidly developing area.
Get in touch
With KPMG Managed Services, we help you create nimble, scalable business functions that evolve as you grow and pivot quickly amid changing priorities.
That’s how to accelerate and sustain your transformation journey and stay ahead of competitors — while helping minimise disruption and risk. Feel free to reach out to the contacts below.
Contact our team
Anna Scally
Partner, EMA Region Head of Technology Media & Telecoms
KPMG in Ireland
Liam Cotter
Partner
KPMG in Ireland
Rory Timlin
Partner, Technology Consulting
KPMG in Ireland
Rodney Doyle
Managing Director
KPMG in Ireland
Des Sherwin
Director
KPMG in Ireland
