Digital IQ: Despite automation, the human factor is becoming increasingly important
A PwC study shows that many Swiss companies are still not sufficiently prepared for technological change. In Switzerland, just over half of managers (54%) rate their company's digital IQ as high. Worldwide, the figure is 52 percent. Despite automation, the human factor is increasingly shaping digital IQ.
Digital IQ is no longer just about technology. Human ways of thinking and working are becoming increasingly important. This is shown by the tenth edition of "Digital IQ", a global study conducted by PwC on the latest trends in business technology. PwC surveyed over 2,200 managers - from management and IT - from 53 countries about their ability to harness new technologies for their company.
Swiss companies rely on cooperation
While more than three quarters of the companies surveyed worldwide systematically approach new technologies, only 54% of Swiss managers have confidence in their companies' ability to innovate. Just under a third have concrete solutions in place to consistently measure the value of their digital investments. Swiss companies are more likely to join forces with other industry leaders or providers when integrating new technologies than foreign companies. Only half conduct active industry analysis and competitive research.
Digital IQ: the human factor is crucial
Only 29% of managers surveyed worldwide still consider the term digital to be synonymous solely with IT. The focus of digital transformation is increasingly shifting to the roles of customers and employees as well as their ability to adapt to new digital technologies and use them efficiently. At 49%, Swiss companies see improving the customer experience as one of the three most important goals of digitalization.
Digital culture
Digital IQ is now at the top of the management agenda. Worldwide, 62% of respondents state that their CEO has a high digital IQ. Although the figures for Swiss CEOs are below average at 54%, Swiss companies rate the skills of their CIOs slightly higher than their international competitors. "Top management needs four clear focus areas: Willingness to invest and innovate, addressing middle management's fears of change and training opportunities for the workforce. After all, every single employee is responsible for the digital transformation," explains Holger Greif, Head of Digital Transformation at PwC Switzerland. Only 43% of Swiss companies (compared to 65% worldwide) state that their employees have the necessary skills to cope with digital change. "We clearly have some catching up to do here," adds Axel Timm, Head of Corporate Technology at PwC Switzerland. "Companies need to create a corresponding culture to be able to exploit the full value of digital innovations and technologies: The important thing here is to focus on customer and employee experience, but also to combine the skills in the workforce in the right way."
New generation of technologies
Today, the next generation of powerful technologies is already in the starting blocks, including the "essential eight": the Internet of Things, artificial intelligence, robotics, drones, 3D printers, augmented reality, virtual reality and blockchain. Swiss companies are investing primarily in the Internet of Things and artificial intelligence. This trend is likely to continue over the next three years.
The report can under this link can be downloaded as a PDF.
