Further evidence of the strong positive correlation that exists between digital maturity and companies' financial performance has been provided in a recent study by Accenture.
Through the more efficient use of new technology, the 900 large companies surveyed could increase their market capitalisation by an average US$6 billion.
A lack of digital skills, however, is holding back their ability to realise these benefits.
With only 13 percent of executives claiming tangible business benefits being derived from their investments in digital technologies, major scope for improvement exists in leveraging the full potential of emerging technologies such as 3D printing, artificial intelligence (AI), augmented and virtual reality (AR/VR), autonomous robots, autonomous vehicles, big data analytics, blockchain, digital twin, machine learning and mobile computing.
Companies in the industrial-equipment sector, for instance, could realise additional cost savings of more than $43,000 per employe