A recent survey conducted by Kyndryl revealed that 94% of business leaders consider technology modernization to be a top priority for their companies. However, alarming data shows that 44% of the critical IT infrastructure managed by Kyndryl for its customers is nearing its end-of-life.
The findings, as presented in the Kyndryl readiness report, are based on input from 3,200 senior leaders and decision-makers, as well as insights from Kyndryl Bridge, the company’s AI-powered digital business platform.
The report quotes a Kyndryl security leader who emphasizes the vulnerability of end-of-life technology to cyber attacks and prolonged outages. With almost half of the world’s critical infrastructure requiring upgrades, the urgency for modernization is clear.
CeOs are increasingly concerned about outdated IT systems, with 64% expressing worries about vulnerabilities, skills gaps, and the need for modernization. Furthermore, 71% of executives admit that their IT infrastructure is not fully prepared for AI implementation.
Despite these challenges, only 30% of organizations believe they are leading in tech modernization and innovation adoption. Most leaders are still in the early stages of their modernization journey.
A significant portion of survey respondents (56%) are in the process of adopting new digital technologies, while 15% are just beginning their transformation efforts.
Addressing external business risks, upgrading IT infrastructure is identified as a top priority by the surveyed business leaders. Automation through Kyndryl Bridge shows promise in resolving IT issues, potentially saving companies billions of dollars annually.
Looking beyond IT modernization, concerns over cyber attacks and environmental disruptions are prevalent among business leaders. Despite these worries, readiness to manage such risks remains low.
Cyber security vulnerabilities, speed of innovation, and integrating new technologies are highlighted as major challenges by the survey participants. Martin Schroeter, chairman and CEO of Kyndryl, emphasizes the importance of readiness in empowering people, aligning tools with culture, and navigating the complex journey of digital transformation.
