Almost all executives think their IT is best in class, but ‘future ready’ is a different story
A new study from Kyndryl has claimed that the vast majority (90%) of leaders are confident that their company’s IT infrastructure is ‘best in class’ β but that’s about the only thing they have confidence in.
When investigators pressed further, executives began to waver in their certainty. Despite the confidence, only 39% believe their technology is ‘future ready’, and 64% of CEOs are concerned that their IT is outdated or at end of life, which doesn’t sound ideal.
Confidence in IT systems is also wavering when it comes to dealing with threats, as 65% are concerned about cyber attacks, and cyber security is considered a ‘very important challenge’ for 56% of businesses.
A race towards modernization
In an equally paradoxical finding from researchers, 86% of respondents claim their AI implementation is once again best in class, yet only 29% believe their AI tools are ready to manage future risks. Presumably there will soon be a great day of reckoning when millions of perfectly healthy IT systems will become obsolete.
βForty-four percent of the inventory Kyndryl maintains for its customers consists of end-of-life or end-of-service technology β making it more vulnerable to cyber-attacks and at greater risk of long-term outages,β the company said. .
βIn practical terms, this means that almost half of the world’s most critical infrastructure is not resilient and needs to be upgraded.β
Research has shown that outdated technology not only makes organizations vulnerable to attacks, but also incurs maintenance costs. So it’s a good idea to review and update systems where possible.
While technology is at the same time end of life and best in class, respondents say technology is outpacing the training IT professionals receive as 40% of leaders report a skills gap hindering the modernization process.
The report’s conclusion is that executives likely need to gain more insight into their systems and how they can be modernized.