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Business enthusiasm for emerging tech clashes with cybersecurity woes - CompTIA
Wed, 5th Feb 2020
FYI, this story is more than a year old

Businesses in Australia identify innovation as a top priority and are intrigued by the potential of emerging technologies, according to a report from CompTIA released today.

The report also found that concerns about cybersecurity readiness and the struggle to find enough workers with the right skills to meet workforce needs added a measure of caution to their expectations and plans for 2020.

The survey of business and technology professionals in Australia and 13 other countries identified business priorities for 2020.

It also surveyed perceptions of emerging technologies, cybersecurity, workforce skills, professional development strategies, and the future of work.

"The ingredients for innovation have never been more accessible, and tech hubs can now be found in nearly every corner of the globe,” says CompTIA executive vice president for research and market intelligence Tim Herbert.

“While the research points to momentum on many fronts, there remains much work to be done in helping businesses and workers navigate the path ahead."

The business of technology

Global spending on hardware, software, services and telecom is projected to reach nearly $5.2 trillion globally this year, with $93 billion in Australia alone.

95% of Australian companies rate technology as a primary or secondary factor in reaching their business objectives.

The large majority of companies (87%) turn to outside providers to assist with their technology requirements.

Consulting and strategy services, cybersecurity, software development, web design and eCommerce and repair and maintenance are among the most commonly outsourced services.

62% also report that they get an excellent or good return on investment (ROI) from their technology spending.

Emerging tech momentum builds

50% of Australian businesses have a positive view of emerging technology, while another 18% take a middle-ground position, expressing equal parts excitement and trepidation.

Both percentages are slightly lower than the global results (54% mostly excitement, 21% equal parts excitement and trepidation).

At the other end of the spectrum, one in three Australian companies report mostly feelings of trepidation about emerging tech.

Risk aversion, budget constraints and a lack of a clear business case are among the primary factors that are causing some organisations to take a go-slow approach.

Although still far from mainstream adoption, the emerging technologies with the highest rates of implementation globally are the Internet of Things (IoT) and big data.

Cybersecurity disconnects

Nearly 70% of firms describe their cybersecurity as completely or mostly satisfactory. This indicates much room for improvement, especially with the remainder describing their firms' approach as simply adequate or inadequate.

For many companies in Australia the perception that current cybersecurity efforts are 'good enough' is the top challenge to devoting more attention and resources to the issue.

A lack of understanding of new cybersecurity threats is another challenge for companies.

Given the projected high growth rates for emerging technologies expected over the next several years, the need for businesses to re-evaluate their approaches to cybersecurity is even more apparent.

Workforce challenges

Skills gaps remain an ongoing challenge at most organisations, with 46% of Australian firms reporting this situation has grown more challenging over the past two years. This is the same percentage as the corresponding global result.

The research confirms the distinction between the generic use of the phrase ‘skills gap' and the more nuanced discussion of ‘workforce gaps' that encompass location, pay, soft skills, perceptions, innovation and more.

18% of Australian employers acknowledge that unrealistic expectations with skills and experience contribute to exaggerated perceptions of the skills gap.

Another 53% acknowledge it is somewhat of a factor.