A significant number of Indian executives believe that they have top-tier IT infrastructure, however, only half of them are confident in their systems’ ability to handle future risks and challenges, according to a report released on Wednesday. The 2024 Kyndryl Readiness Report, based on insights from the AI-powered digital business platform Kyndryl Bridge, as well as a survey of 3,200 senior decision-makers in 18 global markets spanning 25 industries, such as healthcare, manufacturing, energy, and finance, revealed these findings.
The report stated, “Among global respondents, India stands out with an average readiness of 35 percent across risks. In India, 88 percent of business leaders believe that their IT infrastructure is best-in-class, with 44 percent of them confident in its ability to handle future risks.”
It was also mentioned that while 94 percent of Indian leaders prioritize technology modernization, 44 percent of mission-critical IT infrastructure is either approaching or has already reached the end of its life, posing vulnerabilities and complicating modernization efforts. Additionally, regulatory compliance remains a significant concern, with many Indian executives expressing the view that policy changes are happening too rapidly.
Martin Schroeter, Chairman and CEO of Kyndryl, stressed the importance of aligning technology with organizational culture to effectively navigate these challenges. “Readiness is an ongoing challenge,” he said, advocating for a holistic approach that empowers employees and seamlessly integrates new technologies into business processes.
Furthermore, the report highlighted that India is leading in AI adoption, with 85 percent of business leaders investing in AI technologies. However, the report noted limitations in the ROI of AI due to skills gaps, compliance issues, and compatibility challenges. A substantial 27 percent skills gap in AI and a 10 percent gap in data science and analytics among Indian leaders are hindering the full potential utilization of these technologies, according to the report.
