GEC NEWS WIREKyndryl released the 2024 Kyndryl Readiness Report, which explores the paradox of why 92% of executives in the United Arab Emirates (UAE) and Saudi Arabia believe their IT infrastructure is best-in-class, surpassing the global average of 90%, yet only 43% of them think it’s ready to manage future risks.
The report also shows how IT modernization is helping companies gain a competitive edge, even as just 39% of businesses in the UAE and Saudi currently see positive return on investment from AI.
In the digital economy, business leaders say they’re relying on their IT to mitigate risk, build talent and take advantage of new tools. Yet while 93% of leaders in the UAE and Saudi Arabia say technology modernization is a high priority for their companies, data from Kyndryl shows that 59% of mission-critical IT infrastructure is approaching or at end-of-life, increasing vulnerability and raising barriers to modernization.
In terms of concerns, cybersecurity tops the list of business concerns: 57% of business leaders in UAE and Saudi are worried about cyber-attacks, and only 34% feel ready to manage them. Similarly, 68% of business leaders in UAE and Saudi express concern over climate and environmental disruptions, yet just 26% believe their systems can effectively respond.
Business leaders in the UAE and Saudi Arabia say upgrading IT is top way to manage risk with top actions being taken to mitigate risk include upgrading IT infrastructure (41%), Implementing robust cybersecurity measures (40%) and enhancing regulatory compliance efforts (36%).
“The work we do at Kyndryl to run and transform complex IT infrastructures for thousands of enterprise customers, has given us a deep perspective on how companies can identify opportunities to overcome today’s business challenges,” said Martin Schroeter, Chairman and CEO of Kyndryl. “Readiness is an ongoing challenge and it’s about empowering people, aligning tools with culture and embracing the complex journey of digital transformation across the entire organization.”
