KPMG global

tech report 2024

Beyond the hype: Balancing speed, security and value

KPMG. Make the Difference.

KPMG International | kpmg.com

Contents
03 Foreword
18 Delivering resilient solutions

06 Identifying value amid the hype

22 Scaling AI with confidence

12 Optimizing value through

evidence-based decisions 28 Conclusion and key recommendations

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Foreword
The relentless speed of technology innovation is undeniable. When combined with a natural fear of missing out,
ideas that may once have seemed like science fiction are rapidly converting into tangible reality. From generative AI
to quantum computing, the potential benefits are huge, and so is the risk of making costly mistakes.

A key theme from this year’s research is the perception among By taking a measured approach to technology investment, executives
tech executives that they are struggling to keep up with the pace are already benefiting from key advancements while keeping a firm
of change. In response to this sense of falling behind, organizations hold on their business models and successfully running the enterprise.
may be tempted to make a hurried response. However, this can lead A willingness to enter the realm of science fiction does not mean leaving
to misguided investments that may prove both risky and expensive, the facts of sound business management behind. Guy Holland
potentially increasing the burden of technical debt which many Global Leader, CIO Centre of Excellence
well-established organizations are already struggling with. KPMG International

Our research suggests that organizations are increasingly aware of

this dilemma, and they are looking to pivot from imitating others to

2,450
becoming leaders themselves. Typically, technology leaders are paving
the way by bringing structure, discipline and an enterprise mindset to Guy Holland is the global leader of KPMG’s CIO
the adoption of new technology. Center of Excellence, a board member of KPMG
Australia, and he leads KPMG Australia’s Technology
In doing so, they are looking to evidence-based investment decisions Advisory practice. Guy’s career in technology spans
that align to the broader business and technology strategies and balance over 30 years and he has worked in senior leadership
value creation with appetite for risk. roles for global consulting and technology companies
in Europe and ASPAC. Working with senior business
leaders and C-suite executives he helps organizations
Overall, the sense from our respondents is that organizations are technology professionals worldwide across a wide range of industries to harness
doing well with measurable improvement in many areas over the
past year. Mistakes provide great learning opportunities for the
from a variety of industries technology and data to transform, innovate and
future, and the positive perspective on progress shared by our create business advantage.
survey participants is encouraging.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

About the research There are representatives of eight industries: financial services, tech, retail and consumer
packaged goods, industrial manufacturing, life sciences and pharmaceuticals, healthcare,
government and public sector, and energy.

Energy (including oil and gas, power

and utilities, chemicals and renewables)

Government and public sector Financial services

5%
5% (including banking,
Healthcare investment, pension,
5% 25% insurance)
Life sciences and
pharmaceuticals 5%

Industrial 15%
manufacturing

The study is based on a survey of 2,450 executives from 26 countries: 20% Tech

29% 44% 27%

20%

Retail and consumer packaged

goods (including leisure)
Americas Europe, Middle East Asia Pacific (ASPAC)
and Africa (EMEA)

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

This report brings together valuable insights from a

diverse group of technology leaders, including Chief
We also interviewed five senior corporate leaders and experts:
Meet the high performers
Digital Officers, CIOs, CTOs, CISOs, Chief AI Officers,
and others. Michelle Chang In our research, there is a group of organizations that stand out.
These digital transformation high performers represent less
CFO/CVP, Microsoft Customer and Partner Solutions than 10 percent of the tech professionals we surveyed. With a
growing list of diverse demands, their organizations are making
A significant proportion of the sample is
smarter decisions and basing their tech initiatives on evidence
composed of senior leadership: and measurability.
Gavin Munroe

50% Group Executive of Technology and Group Chief Information In this year’s report, we define these leaders based on these two
are board members or important criteria:
Officer, Commonwealth Bank of Australia
members of the C-suite

In the highest maturity stage

Polly Sumner

35%
of implementation across
are either at VP level or Chief Adoption Officer, Salesforce
most of the tech categories
head of department
measured

Michael Wagner

15% are at director or senior

manager level
CISO, Kenvue

Naveen Zutshi
Registering profitability
increases through their
advances in the majority of
tech categories measured
In terms of the size of these organizations, annual CIO, Databricks
revenues sit above
We would like to thank them for their time and insights,

US$100
which helped in putting this report together.

million

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Identifying
value amid
the hype

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

To harness the full potential of the 2023 have seen an increase in prevalence for 2024 by an average of
15 percentage points.
wave of new tech advancements,
That said, the drivers have shifted in terms of which has the strongest
organizations must sustain a measured, influence on tech choices. While following competitors is still a top
strategic approach to investment. decision driver in 2024, it has fallen to third behind looking to third-party Tapping into the pace of change
guidance (89 percent) and in-house trials and proof of concept (PoC; is something we are focused
83 percent of the base). This may reflect the desire for organizations to
Rapid change is driving fear of missing out (FOMO) overtake competitors in getting emerging tech to market. on and excited about, all in the
Still, for many, FOMO remains a strong influence on investment context of doing so in a safe
Our research shows that the rapidly accelerated technology
innovation over the past year has amplified a strong sense of FOMO decisions: 82 percent are still choosing tech investments such and secure way.
among organizations. as virtual and augmented reality (VR and AR) in order to follow
in their competitors’ footsteps. In comparison, the study’s digital
The flood of AI-related news entering the mainstream has stirred Gavin Munroe
transformation high performers are 22 percentage points more likely
a collective interest in AI that transcends seniority and technical Group Executive of Technology and Group Chief
than other organizations to rely on customer feedback. And these
expertise. This has only served to stoke the fires of ‘tech-envy’ and Information Officer, Commonwealth Bank of Australia
leading organizations place following competitors outside of their top
could encourage a ‘spend now, ask questions later’ attitude. three motivations for investing in certain tech.
Digital transformation can bring many exciting benefits, and
ambition to progress is only healthy, but organizations must not let
it distort their judgement. Progress paranoia could lead to misguided
investments and disjointed implementation initiatives.

78% 80%
Despite FOMO, organizations are taking a more
balanced approach to investment decisions
worry that they complain that their senior
are struggling leadership’s risk aversion
While execs continue to look at the trends set by their market peers to keep up with means their organization is
for guidance, this year sees more of them basing investment decisions the pace of slower than competitors to
on their own primary evidence.
change embrace new technology
This year, executives are drawing on a wider range of sources to
inform their investment decisions. All investment drivers measured in

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Figure 1: Fast following is no longer the top reason to invest in tech YoY
2024 2023
Metric movement
Why is your organization prioritizing these technologies to support its ambitions? ranking ranking
(%)
Guidance from third
0 20 40 60 80 100
parties (including 1st 3rd +26%
regulators)
Guidance from third parties (including regulators) 63% 89%
In-house trials/
proof-of-concept 2nd 4th +27%
In-house trials/proof-of-concept testing 56% 83% testing

Competitors in our
Competitors in our market have already adopted 73% 82%
market have already 3rd 1st +9%
adopted
Proven return-on-investment 50% 71%
Proven return-on-
investment
4th 6th +21%
Customer feedback 65% 69%

Customer feedback 5th 2nd +4%

Employee feedback 53% 59%

Preference of senior leadership team 43% 53%

Employee feedback 6th 5th +6%

Preference of senior
Cost effectiveness 25% 45%
leadership team
7th 7th +10%

2023 2024 Cost effectiveness 8th 8th +20%

Enabler of ESG Not

9th N/A
outcomes measured

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Organizations are spreading their bets across the Across all tech, ASPAC is the region that is most likely to be at the
tech portfolio proactive implementation stage, with India and China leading the way.

Compared to 2023, tech implementation maturity has improved across Priorities for further investment over the next year include XaaS,
the board, with the biggest increases seen in data analytics and XaaS. which 86 percent chose, as organizations focus on the agility and
cost reductions enabled by cloud computing. Other priorities include
In the 2023 tech report the most common implementation stage cybersecurity (68 percent), AI/automation (65 percent) and edge
for XaaS was that companies had a strategic vision but were limited computing (61 percent). These investment appetites indicate that Priorities for further
because of low buy-in or investment approvals. This year, the majority of many organizations put tech at the core of their business strategies. investment over the next
organizations are proactive in progressing against their XaaS strategies.
year include XaaS, which

86%
Figure 2: All categories measured in 2023 have seen an improvement in 2024
How would you describe your organization’s position today in each of the following areas?

Most common implementation stage:

1 2 3 4 5 6 chose, as organizations
No active Aware, Strategy is Strategic vision Funding and exec buy-in Strategy
focus in no action being designed exists, but exec achieved for strategy, proactively
focus on the agility and cost
this area taken and tested buy-in is blocking but implementation is evolving reductions enabled by cloud
progress behind schedule computing.

AI/automation

XaaS tech (including public cloud or multi-cloud)

Cybersecurity

Data and analytics

2023 2024

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Organizations are getting better at delivering Figure 3: Proportion of execs reporting a positive impact on profitability from tech has risen by 25 percentage
value from tech investments points on average
For many organizations, tech adoption is paying off. Most Over the past 24 months, our digital transformation efforts with the following tech have positively impacted our organization’s profitability
(72 percent) agree that their digital transformation decision-
making processes usually lead to outcomes that generate 50 60 70 80 90 100
business value. In fact, 69 percent of those surveyed are
broadly satisfied with the value they generate from their tech — Data and analytics 66% 89%
especially in China (90 percent), Netherlands (83 percent),
Nigeria (80 percent) and Israel (79 percent).
AI and automation (including generative AI) 63% 88%
Across tech categories, an average of 87 percent of organizations
have managed to use tech to increase profits over the past XaaS technologies (including public cloud or multi-cloud) 64% 88%
24 months. Across those categories surveyed in both 2023
and 2024, there has been a 25 percentage point year-on-year Cybersecurity 64% 88%
increase in the number of execs who say these systems have
had a positive impact on their company’s profitability. So there
Modern delivery (including low code/no code) 59% 88%
is an uplift in the number of organizations seeing tech initiatives
boost profitability.
VR/AR/XR (including Metaverse) and spatial computing 60% 85%

2023 2024

an average of

87%
of respondents have achieved profit uplifts of at least 11 percent from their

59%
of organizations have digital transformation efforts over the past 24 months.
managed to use tech
to increase profits The most common profit increase from digital transformation efforts in the
over the past past 24 months falls within the 11–15 percent range.
24 months.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Neglecting legacy systems can compromise new What do the high performers do?
tech investments
How are leading organizations advancing more quickly along their digital transformation
The desire to accelerate transformation appears to be favored: journeys? Our research suggests these high performers are:
74 percent of organizations say that over the next 12 months,

57%
they plan to focus on investing in new tech rather than on
enhancing the value of their existing tech suite. Less likely to be gripped by FOMO:
In comparison to non-leaders, our leader group is 23 percentage points
There is a risk that the allure of new technologies distracts less likely to worry about keeping up with the pace of change. Also, they
organizations from addressing flaws and technical debt in are five percentage points less likely than the mainstream group to be
their existing systems. This approach can, in turn, undermine choosing technologies because their competitors have already done so.
transformation progress.

Often, unresolved issues in current tech infrastructure can Iteratively course-correcting:

obstruct the implementation of emerging tech. High-performing organizations are adopting a more proactive and
adaptive approach to evaluating tech investments. As many as 83 percent
In fact, unaddressed tech debt blocking the path to new of leaders continuously evaluate the business value and outcomes of all
of organizations say that upgrades is one of the top challenges holding back the digital tech investments, which is 17 percentage points higher than non-leaders.
flaws in their foundational transformation progress of the study’s digital transformation This always-on approach will provide organizations with more opportunity
high performers. Further, 57 percent of organizations overall say to intervene and optimize where required.
enterprise IT systems disrupt
that flaws in their foundational enterprise IT systems disrupt
business-as-usual on a
business-as-usual on a weekly basis. Utilizing primary empirical evidence:
weekly basis.
Leaders are 21 percentage points more likely than non-leaders to run
“The longer you delay addressing tech debt, the higher the costs
calculations to forecast the potential value of tech initiative before
and risks become,” says Commonwealth Bank of Australia’s
they invest.
Gavin Munroe. “Continuous investment is crucial. Accumulated
tech debt often results in embedded business rules and logic,
which can make future replacements costly and complex. So, Leaning on external sources of expertise:
it’s essential to consistently invest in unraveling tech debt to To enhance their digital transformation decision-making, 93 percent of
avoid escalating surprise costs and complexity over time.” our leader group plan to expand and strengthen their ecosystem and
partnerships, compared with 70 percent of the mainstream sample.
Organizations must strike a healthy balance between new and
existing tech investments. Executives’ intentions to prioritize
XaaS investments will help here. By replacing outdated systems Aware of tech debt:
and consolidating multiple functions into centralized hubs, XaaS In contrast with non-leaders, leading organizations place unaddressed
platforms can reduce the complexity of infrastructures and the tech debt as one of the top challenges holding back digital transformation
volume of redundant tech. progress. To avoid escalating surprise costs and complexity over time,
organizations must consistently invest in unraveling tech debt.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Optimizing
value through
evidence-based
decisions
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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

On balance, organizations are content “Where we’ve seen organizations achieving the most value from
tech is where they step away from the habit of just following a tech
with the outcomes of their digital trend for the sake of it,” says Michelle Chang, CFO/CVP of Microsoft
transformation investments, mostly Customer and Partner Solutions. “And, instead, start with, ‘What
is our business trying to accomplish, what’s our purpose and what
thanks to their ability to make sound problems are blocking us from achieving our purpose?’ The answers When measuring the effectiveness of
decisions along the journey. to these questions will indicate how tech can help them move digital transformation or the adoption
forward in a meaningful way.”
of a certain piece of tech, it’s
With the pace of change pressuring tech Our study’s top performers get this, with 53 percent strategically
execs, organizations must ensure haste evaluating their tech investment portfolio to ensure it is aligned important not to get fixated on just
does not compromise the quality of
with their long-term goals (compared with 41 percent of other one metric. You have to think about
organizations). The good news is that most execs want to imbue
their judgment calls. their tech initiatives to provide value in non-tech areas; 70 percent the implications a metric may have
ensure that their tech investments directly target their sustainability on other metrics, and adjust your
and social responsibilities.
approach accordingly.
Investing for the long term is still a good discipline Executives understand that the value of tech goes beyond financial
to follow gain. “One of the lessons we’ve learnt is that tech initiatives cannot Naveen Zutshi
just be anchored in financial ROI — that’s not the only win available,” CIO, Databricks
With execs fearing that their organizations are struggling to keep
says Chang. “You must have other anchors of improvement in the
up with the pace of change, planning for the long term can be
KPIs, such as creating a better customer experience.”
difficult when balancing the needs of the latest technological
advancements. To maximize progress, tech execs should channel
digital transformation efforts towards what matters most strategically
to their organizations.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Organizations are raising the bar on data maturity

According to the group of high performers in our research, frequent data-centric evaluation is one
of the two effective tactics for achieving quick wins from tech investments. And the wins from
data-centric approaches are stacking up. Organizations that are in the top two data maturity
categories across the factors measured are more likely to be satisfied with the value generated 53 percent are strategically

53%
across all their tech investments. For example, these organizations are likely to achieve better
service reliability, as they are 18 percentage points less likely to say that flaws in their foundational
evaluating their tech investment
IT systems disrupt business as usual on a weekly basis. portfolio to ensure it is aligned
with their long-term goals
The data management maturity of many organizations is now strengthening across the board,
(compared with 41 percent of
setting a new corporate benchmark.
other organizations).

Every business needs to accelerate from end-to-end.

The only way that is going to happen is through faster,
data-driven decisions and by empowering every Most executives want their

70%
employee to figure out how they’re going to redesign technology initiatives to have
a broader sense of purpose:
the work they do. 70 percent ensure that their
tech investments directly target
Polly Sumner
their sustainability and social
Chief Adoption Officer, Salesforce
responsibilities.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Figure 4: More organizations are in the top two categories of data maturity in 2024 (influential/embedded)
How effective are your data and analytics activities in the following areas? — Influential/Embedded

2024 53%
Data accessibility
2023 37%
Respondents were asked to evaluate their
2024 53% organizations across a number of
Data investments
2023 38% categories of data maturity. The two
highest levels of maturity were:
2024 52%
Extracting meaningful insights Embedded — This is fully integrated into
2023 38%
our daily operations and often generates
2024 52% returns.
Data monetization
2023 39%
Influential — This is a fundamental part of
our business strategy. Our well-defined
2024 52%
Data security processes are mostly adhered to.
2023 Not measured
The other available options were:
2024 51%
Data governance
2023 46% Cohesive — A structured yet agile
approach is in place with guidelines
2024 51% available.
Data interoperability
2023 Not measured
Experimental — Pilot testing is underway,
2024 and expertise is being built but processes
51%
Data culture are ad hoc.
2023 41%
Aware — A need is acknowledged but
2024 50% there are no dedicated processes in place.
Data science
2023 40%

Embedded Influential

The purpose of this figure is to highlight the percentage of organizations with relatively high data maturity, the lower maturity levels have been excluded to enhance readability.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

In general, data maturity has increased, with over half of respondents Value must be quantifiable and comparable
(52 percent on average) now at one of the two highest levels of data
proficiency — the influential/embedded stages, up from 40 percent Once executives have identified the problem areas that require
in 2023. support from tech, they need to deliver and measure value.

Cloud platforms play a key role in enhancing proficiency in this area. For the executives in our research, the three most popular ways of
Better data management and integration is the most commonly measuring value are:
identified gain from increased use of XaaS tech.

Organizations can do much more with customer

feedback
According to our execs, directing tech investments towards the Business growth metrics,
service pain points flagged by customers and employees is the such as number of new

78%
most influential tactic for generating quick wins from IT investments.
products launched
For instance, process points that have multiple handoffs between
stakeholders and multiple systems of record, with complex contracts
can often be riddled with human-error related execution issues
resulting in delays for customers. As an example, using data mining
to identify opportunities to employ smart contracts, supported by
blockchain or tokenization, can target these pain points to speed
up processing times and reduce the need for intervention from Financial metrics, such
intermediaries, while ensuring strong transparency and security levels. as cost-to-serve and
profitability
“Look at your major business processes and ask: Where are
inefficiencies dragging you down and keeping your organization from
achieving its purpose?” says Microsoft’s Chang. “These are the of execs say their business
points where technology is likely to be uniquely helpful.” fails to use customer feedback
However, customer insights tend to be wasted: 78 percent of effectively.
Customer-centric metrics,
execs say their business fails to use customer feedback effectively.
Perhaps this is because organizations are struggling to decide on such as customer satisfaction
the required action to address the user feedback, or there may be and customer base growth
communication issues between front and back office. Ultimately,
unless organizations get better at using customer insights, tech
execs risk wasting their investments on low-value areas.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Developing data-backed measurements tailored to the business What do the high performers do?
helps organizations establish cause and effect when they choose
and implement tech. Predictive modeling capabilities, when used Which behaviors set leading organizations apart when it comes to defining and delivering value? Our research suggests they are more
alongside these metrics, can advance the value creation journey by likely to:
enabling proactive decision-making, forecasting demand and internal
performance changes, identifying growth and cost optimization
opportunities, and mitigating potential risks. Make value-driven decisions aligned with their long-term goals:
Leaders are dedicated to ensuring their daily decisions contribute to long-term strategic goals and organizational
Metrics forecasts are a helpful reference point for tracking definitions of success. Over half (53 percent) of leading organizations strategically evaluate their tech investment
investment performance, enabling informed course correction portfolio to ensure it aligns with their long-term goals, 12 percentage points higher than non-leaders.
where required. For instance, 73 percent of execs say they perform
accurate cost forecasts in their digital transformation projects. It Get everyone on the same page:
also follows that the majority (67 percent) manage to prevent hidden Despite the challenge of managing a growing number of priorities and stakeholders, high performers achieve speed
costs from disrupting their digital transformation journeys. to action by ensuring they have strong alignment across the organization. For instance, 90 percent of leaders can
efficiently achieve consensus between stakeholders, whereas other organizations are 18 percentage points less likely
But our leading organizations go further. Compared with other
to be able to do so.
organizations, the top performers are more likely to use both
qualitative and quantitative metrics to establish causal trends, and
are more likely to use real-time data to guide decision-making. Adopt an “always-on” approach to performance management:
Leading organizations continually develop the quality and breadth of the inputs that are informing their decisions.
By continuously monitoring performance, organizations spot where For instance, leaders are more likely to regularly review and update their value-tracking metrics as the market changes
to adjust in response to internal and external influences. As such, and use qualitative and quantitative insights to assess their digital transformation plans.
the high performers in the research are 10 percentage points more
likely than the mainstream group to regularly review and update their
value-tracking metrics to stay aligned with market changes. Master the balance between acting as a risk guardian and a transformation accelerator:
Leading organizations rank risk and cybersecurity metrics as most important for evaluating tech investments;
87 percent are confident in their ability to measure this type of value (compared with just 66 percent of other
organizations). Also these leaders are 21 percentage points more likely to ensure their portfolio of tech investments
are balanced from a risk perspective.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Delivering
resilient
solutions

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Securing the most value from Organizations are prioritizing data security, governance and accessibility
identified opportunities relies on To achieve this level of data proficiency, organizations are pursuing a high level of data security, governance and accessibility through stronger
compliance programs, frameworks and clear ownership and accountability of roles.
robust data-driven processes,
security and governance. As
they troubleshoot the problems Figure 5: Data security, accessibility and governance are the top areas of focus for improving data proficiency
that threaten their resilience, Which data management areas will your organization focus on improving in the next 12 months?
organizations are placing
cybersecurity and data proficiency Data security 35% High-performing organizations stand out
at the top of their priority lists. with their higher focus on data security
Highlighted most
Highest and investments
by respondents as Data accessibility 33%
focus
Data both drives and sustains digital transformation. data focus areas
Data maturity, security, and governance enable the pace of Data governance 32% Data security
innovation, and can help improve customer experiences. Protecting the data our
organization stores through 35%
Insufficiently secure solutions create the risk of data
the security of our systems, 43%
breaches, inefficiencies, or missed opportunities, which Extracting
29% standards, and governance
can erode business value and customer trust. Data security meaningful insights processes
and governance form a robust transformation delivery
infrastructure that underpins an organization’s strategic Data investments 28%
ability to differentiate, maintain cost effectiveness and
manage risk in the digital era.
Data science 26%
Data investments
Ensuring data system 28%
investments align with
priorities of all business 38%
Data monetization 24%
stakeholders
Highlighted least
Lowest
by respondents as Data interoperability 24%
focus
data focus areas
Data culture 24%
Total High performer

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Data proficiency should be a core In doing so, cybersecurity and privacy can support the organization,
competency for the organization as a trust enhancer and protector of brand reputation, by minimizing
the need for costly retrofitting of security fixes and the risk of data
While organizations are investing in data accessibility, breaches.
research indicates that only 24 percent are focusing
on nurturing a data-centric culture and ensuring data
When data is embedded and people are For many organizations, there is a disconnect between intentions
interoperability in the near term. This oversight presents a empowered, tools like AI are adopted very and reality regarding the security-related habits of their workforces.
substantial barrier to fully harnessing technology’s potential Almost 8 in 10 (78 percent) respondents overall say that their staff
and undermines the ability to effectively use and understand
quickly and this creates value super-fast. training treats cybersecurity as a box-ticking exercise and it is not
data across all levels of the organization. embedded as required.
Start with automation and free up people
In a landscape increasingly dominated by data, it’s crucial Rather than rely exclusively on formal training sessions,
that organizations break down these silos and cultivate to do what they do best, more quickly and organizations should focus on implementing controls and
operational features that make cybersecurity easy for employees
a deep, enterprise-wide appreciation of data strategy. in more interesting ways. to embrace in their daily work. For instance, strategies such as
By doing so, they can accelerate digital transformation
towards success by optimizing processes, and dynamically automating DevSecOps processes or providing access to password
enhancing their products and services to meet customers’ Polly Sumner manager platforms can promote more secure employee behaviors.
evolving needs. Chief Adoption Officer, Salesforce
Michael Wagner, CISO at Kenvue, agrees that cybersecurity and
resilience must be at the forefront of daily tech usage. This includes
For sustainable innovation, execs need This security-led stance of the leader group underlines the wider maintaining business continuity plans, having a retainer with an
importance of trust, and how to pursue it. Overall, for the executives
to prioritize trust and security incident response firm, testing backups and conducting regular
surveyed, cybersecurity and privacy are the biggest concerns for recovery exercises.
Execs must ensure that pace of innovation is sustainable, achieving a successful digital transformation. They also maintain that
secure and that they can communicate value to the top skill organizations need to thrive in a digital economy is the “Incident exercises, where different scenarios are presented, are
stakeholders. The high performers in our research rate risk ability to ensure such considerations are front and center of business vital so that we can be prepared should the worst occur,” says
and cybersecurity metrics, including reduced frequency of and tech priorities of the organization. 72 percent of organizations are Wagner. “For instance, the CrowdStrike patch update issue [in
cybersecurity incidents, improved compliance and lower embracing a secure-by-design mindset by involving and empowering July 2024] caused widespread IT outages around the globe.”
failure rates, as the most important lenses through which to cybersecurity teams in the early stages of tech investment projects.
evaluate tech. They are also more likely to be confident that The wider picture here is that tech innovation is not the enemy
In fact, cybersecurity and privacy can enable organizations to pursue of risk management — rather, they should reinforce each other.
they can track their performance in these areas.
their business objectives securely and confidently, and embrace new
opportunities. Organizations need to learn from our high performers By starting with a clear definition of success that is rooted in
group and do more to evaluate tech investments against risk and their organization’s purpose, tech execs will be able to direct
cybersecurity factors. For this to be comprehensive, cybersecurity tech initiatives towards areas that will bring meaningful value.
experts need a seat at the table from the outset so they can advise An insight-led approach will enable execs to prioritize and make
on how security can be embedded to build resilience and trust. decisions when it comes to delivering value.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

What do the high performers do? How to overcome threats to digital transformation
How are the high-performing organizations strengthening their data backbones and Executives are keen to speed up their tech progress, but to do so reliably, effective risk management is essential.
using data as an asset to deliver secure digital transformation outcomes? Our research Consider the following tactics to manage the most common threats to digital transformation velocity and quality.
suggests these organizations are more likely to:
Involve security Challenge risk Accelerate
teams from the aversion by progress by
Tie investment to value:
Leaders consider it a top two priority to ensure data system
investments align with the priorities of key business stakeholders,
01 outset:
Executives maintain
that cybersecurity
02 articulating the
costs of inaction:
A high 80 percent
03 removing
governance
bottlenecks:
whereas other organizations place this outside of their top three
and privacy are the of executives say Poor governance
focus areas.
biggest concerns for achieving a that a risk averse attitude leads and coordination appear in the
successful digital transformation senior leadership to respond to top three toughest challenges
Perform routine data-hygiene audits: but, when it comes to security, market forces more slowly than that derail transformation
Eighty percent of leaders conduct routine data hygiene audits to moving at a measured pace is competitors. When faced with progress. For instance,
address gaps in data integrity and create data ownership frameworks. important. Involving cybersecurity a scenario where risk aversion 58 percent say their centralized
Other organizations are 31 percentage points less likely to have this as and information governance is influencing senior leadership decision-making reduces their
a fundamental part of their strategies. teams from the outset of towards gridlock, one helpful organization’s ability to respond
digital transformation initiatives tactic to kick-start movement is to to market signals and embrace
will help minimize delays and evaluate the risks of inaction against new tech, while 57 percent say
Use data and internal knowledge sharing to respond to
enable businesses to progress the change being considered. For that friction and communication
market risks: investments confidently. To reduce instance, losing market share to breakdowns occur frequently
Leaders say data-centric decision-making (61 percent) and internal
security-related downtime, battle competitors because of a failure between teams at times of
knowledge sharing (48 percent) enable them to adjust their digital
test your organization’s threat to adapt your product offering. If high workload.
transformation strategies in response to evolving market risks
response reflexes. Kenvue’s Wagner analysis reveals that the threats
(compared with 43 and 38 percent, respectively, of non-leaders).
suggests that business continuity associated with staying idle are
While data insights can sharpen risk resilience, internal knowledge
plans, having a retainer with an too concerning to ignore, this can
sharing is crucial. By educating employees and keeping them informed
incident response firm, backups stimulate forward momentum and
of developments, organizations will empower them to adapt and
testing and regular recovery creative thinking to tackle challenges
contribute to positive change.
exercises will prove vital here. and manage the risks that come
with embracing the change.
Prioritize data security:
Leaders are 9 percentage points more likely than non-leaders to
cite security as a key area of focus for improvement over the next
12 months.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Scaling
AI with
confidence

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Almost three-quarters of organizations However, AI is also fueling anxiety in the workforce. Consensus Importantly, there are ways to address such concerns. KPMG’s
and trust will be the keys to progress. More than three-quarters Trusted AI1 framework, for example, emphasizes 10 pillars upon
are already achieving business value of organizations (78 percent) are concerned that many users see which to design, build, deploy and use AI solutions in an ethical
from their AI investments, but only AI as a ‘black box’. Almost as many (77 percent) expect AI to pose manner. They include priorities such as fairness, sustainability,
challenges to their current operational structures, potentially leading privacy, security and accountability.
one in three has been able to achieve to job reduction and ethical concerns.
this at scale. Managing employee anxiety around change will be critical to AI
adoption at speed. Those who navigate the evolving tech landscape
Enthusiasm is being fueled by with a focus on employee empowerment, and bringing everyone on
democratized experimentation board, will flourish amid rapid change. Organizations believe their

approaches, but as use cases scale up

workforce has an appetite for cutting-edge tech. But there is also Applying AI as an organization can
fear that some individuals feel left behind by the rapidly evolving
many predict a tipping point marking a tech landscape. unlock a lot of excitement for your
drive towards greater centralization. In an era where AI’s rapid evolution and adoption are reshaping the
workforce because it can really boost
competitive landscape, tech execs need to rethink their strategic employee wellbeing.
leadership roles. Three-quarters (76 percent) of tech execs surveyed
The AI ‘black-box’ is causing workforce anxiety feel that their role has evolved significantly over the past two AI can take the pain out of longstanding
years as the nature of tech and the workforce itself is changing.
Tech execs must manage board level expectations during a period
problems that have previously sapped
It is positive that 74 percent of respondents say AI is already
increasing the productivity of their knowledge workers, improving of hype cycles and cost sensitivity. At the same time, they must time and energy from employees and,
their organization’s overall performance. Furthermore, just over balance this against the need for a stable, coherent environment
in which the workforce can harness AI, rather than stifling it. Tech
in turn, enhance job satisfaction.
8 in 10 respondents expect automation efforts to shift the focus of
knowledge workers towards more creative roles, and that AI will execs play a critical role in steering their organizations through
even redefine the future of knowledge itself. uncertain times, acting as a strategic innovator, adaptive pioneer, Michelle Chang
trend navigator and risk guardian. CFO/CVP, Microsoft Customer and Partner Solutions

To find out more about the use cases for AI across the enterprise, visit our website.

1
https://kpmg.com/xx/en/home/services/kpmg-trusted-ai.html

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Most organizations are now seeing some return on Figure 6: Just one-third of organizations have successfully scaled AI to production
AI, but value at scale remains more elusive
Which of the following best describe your organization’s current maturity level with AI adoption?
AI adoption is gathering speed, and so is the rate of return (three out
of four organizations this year are already generating value from AI). Scaling AI: We are innovating and deploying AI use cases
However, only 31 percent of all organizations achieve this at scale. 31% into production at scale. We have achieved ROI on a number
of our AI use cases.
Given the expanding range of potential use cases for AI, it’s essential
to establish a strategy aligned with business goals, adopt a portfolio
approach to explore a range of opportunities simultaneously, make Strategically investing in AI: We have invested
trade-off decisions led by proven value, and employ an iterative strategically in core business capabilities and have AI use
process for consistent monitoring and enhancement.
43% cases running actively across the organization that are
returning business value.

Testing AI: We have a large number of AI proof-of-concept

tests running but haven't achieved ROI yet. We have a limited
number of ad hoc use cases in production.
of respondents say AI
is already increasing

74%
Early stage: We have a small number of AI proof-of-concept
the productivity of 19% experiments.
their knowledge
workers, improving
their organization’s Not started: We haven’t implemented any AI yet but plan to
6% at some point in the future.
overall performance.
1%
Increasing maturity

Notably, organizations in certain countries — including China, the US, the UK, Germany, Israel and Saudi Arabia — are most likely to have
mature AI investments already generating value. At sector level, industrial manufacturing, life sciences and healthcare appear to be leading.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Figure 7: Organizations are embracing a Rather than a stringent centralized approach, organizations are careful not to create a tangle of initiatives that become increasingly
decentralized approach to AI innovation adopting a more inclusive mindset around AI experimentation, difficult to track and compare.
crowdsourcing use cases from their workforces. The most popular
Which of the following best describe how your company is approach is open collaboration, where diverse working groups Tracking expenditure and return on poorly integrated initiatives is even
experimenting with potential AI use cases? more pressing, given organizations expect to increase investment in
conduct controlled experiments, sometimes supported by AI centers
of excellence (CoEs) with representatives from every department. AI over the next 12 months. Their top short-term goals for AI over the
More democratized This approach is prioritized by organizations at the most mature level next year are to drive increased operational efficiency via automation,
Democratized experimentation: of AI implementation. Only 6 percent of organizations subscribe to improve product and service development and innovation, and
We have guardrails and AI risk training in place and we a top-down approach to AI experimentation with heavy constraints enhance pattern detection and issue correction.
encourage our workforce to experiment within those boundaries around AI use from the outset.
Data outlining customer behavior and feedback can help organizations
34% While initially encouraging democratized experimentation, many understand where to apply AI for maximum effect. Salesforce’s
respondents (40 percent) plan a shift to a more centralized approach Sumner raises the example of insurance, where automating contact
Open collaboration: once they reach a critical mass of ideas that require stricter points with customers worked well until policyholders wanted to
We have controlled groups of experimentation or AI management to control risk and reduce duplication. In doing so, notify their insurer of a loss. “Insurers were never able to get more
centers of excellence featuring employees from every organizations should apply a balanced approach and steer away from than 10 percent of customers to do that online. They realized people
department across our business overly stringent approval processes to avoid stifling innovation. One were looking for human empathy.” This example shows how truly
way of balancing speed with risk is driving alignment through cross- listening to customers can guide to the right path for delivering real
40%
functional CoEs or user groups, and only centrally managing AI value, and it’s a reminder that AI should be a tool or collaborator for
initiatives that those groups identify as high-risk or high complexity. human workers, rather than a replacement.
More centralized
Selective collaboration: Regardless of their chosen experimentation approach, organizations Organizations should move away from disjointed AI use cases, and
Our dedicated AI team invites consultation from employees in have the opportunity to consolidate underlying processing and data adopt a portfolio approach towards AI, focus on maximizing ROI while
different departments, and decides on which ones to pursue infrastructure leading to gains in efficiency, reduced technical debt balancing innovation with risk mitigation.
and a more effective end solution.
19% Success that outlasts the hype will require
A systematic approach is key to prioritizing AI consensus across the enterprise
Top-down experimentation:
investment in alignment with business goals
We have heavy constraints around AI use. Authorized AI use The biggest barrier facing many organizations is moving from
cases are being rolled out by our AI/IT team and employees To ensure the use cases with the greatest potential receive the experimentation to production, says Naveen Zutshi, from Databricks.
are prohibited from using AI for anything else attention and cross-functional support they require, there must be a In scaling up an AI use case from a PoC to a more widespread
strong roadmap to scaling and a clear link to business value. Many production-level organizational practice, “the bottleneck is the
6% confidence in the reliability, quality and safety of those AI models,”
organizations are chasing short-term value by implementing AI tools
in discrete parts of the value chain — that is, identifying specific use Zutshi says. “That comes back to data quality. You need to understand
We are not experimenting with AI yet
cases for deployment — where they see potential to solve problems how the data is flowing: do you have sovereignty rights over the data,
1% or drive value. This is an understandable approach, but they must be are you doing the right masking and encryption, and how are you
looking at access controls right down to row and column level?”

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Generative AI is introducing a brand-new risk vector to the tech As organizations embark on their AI transformation journeys, tech execs are at the forefront of navigating this complex and evolving
domain, such as ‘hallucinations’, ‘jailbreaks’ and ‘adversarial landscape. In order to go beyond the hype and harness the potential of AI while balancing speed, risk, and value, they should focus on
prompting’ that can manipulate AI. The unexpected consequences five key areas:
of generated content have appeared seemingly frequently in
the news this year. In light of this, when scaling emerging tech,
organizations will need to have the governance and processes in
place to control emerging risks. Survey respondents highlight the
importance of continually developing AI governance policies for
ethical and fair use in line with the evolving regulatory landscape.
01 Delivering value from AI:
By aligning AI initiatives with overall business strategy, setting expectations for ROI, and allocating budget to AI transformation.

The process of establishing trusted guardrails and controls requires

a multi-lens end-to-end secure approach to designing, building and
deployment that incorporates coding best practice, code reviews,
staff training and red teaming exercises that test the performance
and reliability of AI models.
02 Unlocking AI capability:
By upskilling teams to work with AI, setting up organizational governance structures, and identifying capabilities required
across the business.

The ongoing AI hype may tempt organizations to make hurried

decisions. However, successful AI adoption requires an enterprise-
wide multidisciplinary effort and a clear alignment across the
enterprise, and a shared understanding of AI’s role and its potential. 03 Building trust in AI:
By identifying and addressing risks associated with AI, ensuring data quality and integrity, managing shadow AI and securing
sensitive data used in AI.

Organizations that can clearly define and communicate the value of AI

to all stakeholders within the context of their business objectives, and

04
execute through thoughtful collaboration, will have a greater chance of Scaling AI with confidence:
maximizing its impact across the enterprise. By deciding whether to build or buy AI capabilities, identifying suitable partners and vendors, and focusing on interoperability
with existing IT infrastructure.

05 Architecting AI transformation:
By engaging with the business and its various leaders to plan AI rollouts by value stream, function, or product, establishing an
adoption roadmap, and integrating AI into existing business, digital, and tech strategies.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

What do the high performers do?

How are leading organizations extracting maximum value from their AI investments?
Our research suggests they are more likely to:

Encourage their wider workforce to contribute Address skill gaps with AI: Use AI to analyze performance:
to AI experiments: Eighty-nine percent of high-performing Ninety-three percent of leaders are using AI or
Nearly half of all high-performing organizations (47 percent) have organizations say their business is using AI to fill predictive analytics to measure tech performance,
consolidated AI expertise and innovation through creating CoEs skill gaps among knowledge workers, which is which is 23 percentage points above the rest.
as the sources of their AI experimentation. These working groups 18 percentage points above other organizations.
feature employees from every department of the organization.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Conclusion
and key
recommendations
The alchemy of successful digital
transformation

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

While the pace of digital transformation can

be daunting, our research shows that many
organizations are taking considerable strides
forward in their implementation journeys,
especially with AI, XaaS and cybersecurity.

The additional profitability that transformation has yielded so far is certainly

Organizations that consistently
encouraging and organizations are seeking value beyond profits. Execs are
calibrating their digital transformation formulas to supercharge progress
across a range of strategic objectives, including ESG responsibilities and
demonstrate these behaviors
customer experience elevation.
can outpace their competition
and unlock the potential of
This year’s findings reveal that primary evidence, such as PoC tests and ROI,
is taking precedence over a herd mentality. This empirical ethos will be integral
to securing value and making wise choices, especially as tech execs try to
balance the maintenance of legacy systems with a focus on new technology.

To help guard against stakeholder skepticism associated with the safety and
their technology investments,
viability of new digital transformation opportunities, organizations should also
bring structure, discipline and an enterprise mindset to the adoption of new securing and growing market
share as they do so.
technology, to mitigate risks and optimize value realization.

The tech execs who make the superior decisions, safely steering their
organization through various headwinds and risks, will be those that stay
firmly rooted in a data-centric and value-led approach. These transformers
will draw on both real-time and predictive data insights from a broad range
of sources to make balanced judgment calls that align to the broader
business and tech strategies, to drive sustainable value.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

Our respondents demonstrate that AI is already living up to the hype, with the majority of executives confirming they have already achieved business value from AI systems. To maintain momentum, organizations
should reinforce their data management foundations. As AI PoC experiments are scaled up to production level, data integrity and reliability among other criteria, will dictate whether these innovations result in
breakthroughs or costly setbacks.

The attitudes and behaviors of high-performing organizations in this report provide many clues as to how to secure value from tech innovation.

01. 02. 03. 04. 05. 06. 07.

Resist being Be empirical about Mitigate Harness the Prioritize trust Build a strong Develop AI
hypnotized by defining and technical debt power of and security data backbone proficiencies through
FOMO delivering value partnership knowledge sharing
While a desire to Align stakeholders around a Embrace structured Innovation is not Ensure solutions are Establish a robust data Test your workforce
progress and outpace clear definition of success technical debt restricted to new secure by design and management framework competence and
your competition is that cascades into a set of management. Establish technology. Explore new embed trust and security that combines data, people, sentiment on AI, and
healthy, do not let this tangible metrics. Adopt an clear remediation plans ways to collaborate, assurance from the processes and policies use this to determine
boil over and distort your “always-on” approach to and robust architecture co-invest and share outset. Design, build, to ensure information the best way to bridge
judgment. Rather than performance management principles to contain and risk with your chosen deploy and use AI and is reliable, relevant and knowledge gaps,
and continuously monitor and emerging tech solutions
blindly following the herd, rationalize the technology partners. Use their appropriately used. Drive facilitate continuous
adjust metrics in accordance in a responsible and
anchor decisions in your landscape. networks to gain access a shared understanding learning and encourage
with internal and external ethical manner so
organization’s strategic changes. These steps will help to the latest technology your organization can across the organization cross-functional
objectives and look for the organization to confidently and inventive ideas from accelerate value with of how to harness data collaboration.
tangible primary evidence make decisions and deliver around the globe. confidence. more effectively to support
of the right path to take. the value promised. rapid and informed
decision-making.

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Foreword Identifying value amid the hype Optimizing value through evidence-based decisions Delivering resilient solutions Scaling AI with confidence Conclusion and key recommendations

How KPMG firms The KPMG digital transformation suite

can help Transformation Journe
y

Our research indicates that as tech execs look to harness El

eva
the potential of various technological innovations, they must
navigate a tangle of threats and demands, including cyber

te
attackers, stubborn tech debt and complex value equations.

Connected Powered Trusted

Unlock financial
quickly and c valu
To assist you in combatting these concerns, KPMG
professionals can help you set the vision for the future based Rebuilding your Driving outcome Building and sustaining
on your organizational goals, execute digital transformation business, end-to-end, driven functional the trust of your

o
and deliver managed services. KPMG firms’ tech consulting around your customers transformation stakeholders

n fid e
practices have extensive experience in key tech capability

ently
areas and a global delivery network to support your
.

digital transformation.

We offer leading products, solutions, and accelerators to jump

start your transformation and help leverage the latest tech.

We offer a broad set of tech services across strategy,

platforms, cybersecurity, data, AI and emerging tech, cloud,
and risk, so we can help deliver results that matter.
Scalable Managed Services
Helping to sustain your business transformation across the front, middle, and back office.
Our alliance partnerships allow us to approach your
most pressing tech-based challenges and offer broad
solutions and services via expanded product offerings
and increased capabilities.

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Contacts
Bobby Soni Guy Holland
Global Technology Consulting Leader Global Leader, CIO Centre of Excellence
KPMG International KPMG International
bobbysoni@kpmg.com guyholland@kpmg.com.au
+1 408 367 158 +61 410 530 410

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Publication name: KPMG global tech report 2024 | Publication number: 139536-G | Publication date: September 2024