Technology is becoming a key player in determining the success of an enterprise. But do Indian CEOs give digital technology the due importance for the effective growth of their business? Yes, they do.
Business continuity continues to be one of the key concerns for CEO’s in India. This becomes critical especially from the fact that broadband penetration and PC penetration continues to grow at a lower pace. On the other hand, catastrophic growth in mobile proliferation provide a viable and scalable alternative to the CEO’s for bridging the digital divide.
This decade has seen a revolution in the way Indians use mobile phones and smartphones. In 2013-14, India had approximately 910 million mobile users; this means there are approximately 78 mobile phones for 100 Indians.
Moreover, the number of smartphone users is expected to increase to 382 million in 2016; this number was a modest 29 million in 2012.
Anticipating this growth, 78 percent of Indian CEOs feel that mobile technologies are strategically important for their organization’s growth, according to the 18th Annual Global CEO Survey by PwC. On the other hand, 81 percent of the global CEOs deem mobile technology as important.
Analytics, cyber security and the Internet of Things are some other aspects in digital technology that Indian CEOs are investing in for the growth of the enterprise.
Fifty-six percent of Indian CEOs are concerned about the speed of technological change, much lower than their Chinese counterparts (88 percent). Moreover, only 41 percent of the Indian CEOs feel that changes in core technologies of production and services may be disruptive for their company in the next five years.
Indian CEOs feel that business is flourishing through customer experience and operational efficiency, thanks to the investments made by them in technology. Eighty-five percent of the CEOs feel that it is important to have a clear vision of how technology will help achieve the enterprise goals so that the returns of the investments can be achieved.
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