Businesses more optimistic about the future direction of technology
Regardless of the location, industry vertical or company size, almost all (99%+) of those surveyed said they understand the future direction of technology, with nearly 90% stating that they had a “clear understanding”. With uncertainty no longer an issue and the surrounding staffing challenges, supply chain shortages and recessionary concerns of the last few years beginning to trend in a more positive direction, the majority of businesses are feeling more optimistic. Just 10% of decision-makers feel pessimistic about the economy, despite facing multiple headwinds, including geopolitical conflict, rising interest rates and many organisations oscillating between hiring and firing cycles.
As generative AI continues to dominate global technology discussions, and AI in general becoming increasingly widespread, 80% of businesses see it as a high priority for adoption. While the promise of AI wasn’t limited to any particular vertical, its impact was viewed most favourably in Mobility, Retail & Consumer Goods, Telecommunications and Finance & Banking where potential use cases may be most apparent and 80% of organisations regarding it as either a “high” or “very high priority” technology. Additionally, despite 5G’s struggle to take off, Endava’s data shows that interest is surging, most notably in Mobility and Telecommunications where 85% said it was a high-priority technology.
The report also reveals that organisations are opening up to more strategic investments, with awareness of composable architecture on the rise. Previous data from Endava showed that many organisations lacked a strategy for composability and were unfamiliar with it entirely, while nearly 60% of organisations are now prioritising it highly in a bid to unlock the efficiency and flexibility benefits.
“As companies make plans for healthier IT budgets on the horizon, taking an approach that prioritises optimisation when adopting innovations, rather than sweeping transformations, will empower them to stay in control of their success,” Cloke adds. “A framework that champions composable architecture together with iterative implementations of technologies will help them invest in impactful capabilities today while building for the future. This includes a shift in mindset and culture, with practical benefits for people at the heart of technology acceleration.”
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