Why Some Industries Keep Missing The Digital Train

Michael Tyrimos of our team shares his thoughts in a new Forbes Technology Council article, “Why Some Industries Keep Missing The Digital Train.” Here are the key highlights and numbers.

• Fewer than half of digital initiatives meet their business outcome targets, according to a Gartner survey of 3,186 CIOs across 88 countries.
• Construction employs 7% of the world's working-age population, yet its labour productivity has stayed flat for two decades.
• The public sector and energy rank least evolved on BCG's Digital Acceleration Index, and Deloitte calls slow adoption in mining a critical vulnerability.
• McKinsey puts transformation success rates at 4% to 11% in oil and gas, automotive, infrastructure and pharmaceuticals.
• AI leaders see 1.7x revenue growth and 3.6x three-year TSR (BCG), while the maturity spread between leaders and laggards grew 60% between 2016-2019 and 2020-2022 (McKinsey).
• Over 90% of CIOs told Gartner that cost management limits the value they get from AI.
• The obstacle is rarely the technology: legacy infrastructure, a culture that penalises experimentation, and the pilot trap where pilots succeed but never scale.

Read the full article on Forbes