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<ul><li>86% of employees have plans to resign in next six months in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, as per a <keyword id="14163499" type="General" weightage="50" keywordseo="michael-page-report" source="Orion">Michael Page report</keyword> </li><li>Digital transformation-related IT skill shortages will affect 90% of global enterprises by 2025-IDC </li><li>CIOs must focus on employee engagement and reskilling to address the challenge </li></ul>COVID-19 has changed the nature of work forever. Things that were once considered privileges – like flexible working hours or the ability to work from anywhere on any device – are becoming the new normal. Along with these tectonic changes came the least-anticipated <keyword id="12242899" type="General" weightage="50" keywordseo="great-resignation" source="Orion">Great Resignation</keyword> – the phenomenon that describes large numbers of workers leaving their jobs in the post-pandemic era. The term, coined by Professor <keyword id="14495514" type="General" weightage="50" keywordseo="anthony-klotz" source="Orion">Anthony Klotz</keyword> of Texas A&amp;M University, has become a major concern for every CXO in the world. Overstressed employees and the leaders’ inability to empathise with their employees are contributing to this mass work exodus. As the trend continues well into this year, <a href="https://www.weforum.org/agenda/2022/06/the-great-resignation-is-not-over/">one in five workers</a> globally are planning to quit in 2022, according to PwC’s Global Workforce Hopes and Fears Survey of more than 52,000 workers across 44 countries and territories. Pay was held to be the main factor that decides a change in job, with 71% employees in the survey indicating that they expect to be ‘fairly rewarded financially’ for the work they do. But there is certainly more to it than that. <cmsannotation type="cmsannotation" annotationid="What does it mean for tech leaders?" comment="subhead" text="What does it mean for tech leaders?">What does it mean for tech leaders?</cmsannotation> Right from the onset of the Great Resignation, tech and healthcare industries have been witnessing the highest levels of attrition. This, coupled with the latest figures on attrition – about 86% of people are planning to resign in the next six months in India, according to a <a href="https://timesofindia.indiatimes.com/life-style/relationships/work/86-indian-employees-are-expected-to-resign-in-6-months-recruitment-agency/articleshow/92105254.cms">report by recruitment agency Michael Page,</a> – it’s evident that we are going to see the Great Resignation in all its intensity in 2022. The key reason for this trend, according to the <keyword id="1637808" type="General" weightage="80" keywordseo="michael-page" source="Orion">Michael Page</keyword> report, is how employees are re-evaluating what constitutes quality work, and they want it to be purposeful. A significant 61% of respondents in India are willing to accept a lower salary or forgo pay rise and/or promotion for better work-life balance, overall well-being and happiness. For the chief information officers (CIOs) who are in charge of leading ambitious digital transformation initiatives for their organisations, this presents unprecedented challenges. Several CIOs are already reporting that they find it increasingly difficult to attract and retain skilled developers needed to drive digital transformation (DX). DX-related IT skill shortages will affect 90% of global enterprises by 2025, <a href="https://www.idc.com/getdoc.jsp?containerId=prUS48395221">according to IDC</a>. Hiring and retaining workers was cited as <a href="https://sapinsider.org/how-the-great-resignation-is-impacting-cio-priorities/">the second-biggest challenge by CIOs in 2022</a>, while it was not even among the top 4 till 2021, according to a <keyword id="14495515" type="General" weightage="50" keywordseo="sapinsider" source="Orion">SAPinsider</keyword> survey. CIOs must now work with fewer resources to meet their strategic goals around digital transformation, innovation and agility. Worse still, this throws teams into another vicious cycle of employee burnout and dissatisfaction. <cmsannotation type="cmsannotation" annotationid="The way forward" comment="subhead" text="The way forward">The way forward</cmsannotation> If CIOs are to succeed in retaining talent, it’s time to relook at strategies. Most employees are looking at exciting and fulfilling roles and holistic work culture, with fair pay being the foundation. Tech leaders who have been successful in managing talent are focusing on offering more flexibility, improving employee engagement and training/upskilling existing team members. Working closely with employees with niche skills, who are more likely to quit, helps them retain critical talent in the long run. The most important thing to do, according to <keyword id="14495516" type="General" weightage="50" keywordseo="olly-riches" source="Orion">Olly Riches</keyword>, senior managing director at Michael Page, is to entice talent passion. “...Candidates are increasingly less interested in moving within the same industry and more interested in new ideas, beyond their current role, department and industry even. There’s a hesitancy to simply change business cards for a 20% increase. Which is good news — if they’re going to move, it needs to be very, very enticing in order to take that leap. But that puts the onus on their current employer to entice them through passion,” he says. <keyword id="13185080" type="General" weightage="50" keywordseo="sharath-srinivasamurthy" source="Orion">Sharath Srinivasamurthy</keyword>, research director at IDC, believes that solving the skills equation has become a C-suite issue, and Indian enterprises are moving to create a culture of continuous learning and collaboration that will support their digital resiliency efforts in the future. Clearly, employees in the tech sector are in an advantageous position, with a clear understanding of their potentials and future options. The onus is on the CXOs to change their focus and create a win-win situation.

How CIOs can navigate the Great Resignation

The future of digital enterprise in the post-pandemic era <keyword id="13185080" type="General" weightage="20" keywordseo="Sharath-Srinivasamurthy" source="Orion">Sharath Srinivasamurthy</keyword>, Research Director, Enterprise Solutions and <keyword id="14326688" type="General" weightage="50" keywordseo="ict-practices-team" source="Orion">ICT Practices Team</keyword>, IDC, brings nearly two decades of experience in mapping Indian enterprises’ technology and <keyword id="860946" type="General" weightage="80" keywordseo="digital-transformation" source="Orion">digital transformation</keyword> journeys. In this extensive conversation with Business Insider India, he talks about how Indian organizations will accelerate their digital agendas, what their key priorities are and how the industry’s growing skills shortage can be addressed. Edited excerpts: Over two years into the massive shift to being ‘digital-first’, how are Indian enterprises reassessing the long-term impacts of their digital initiatives? Indian enterprises have shown tremendous resilience in the last two years, adapting well to the changing market dynamics. They have invested in large-scale reskilling of existing employees on digital technologies, hired new talent from the market, established strategic partnerships with various digital ecosystem players, developed solutions/IPs, set up innovation labs, and executed multiple acquisitions to develop new capabilities. The IDC <keyword id="14326687" type="General" weightage="20" keywordseo="Future-Enterprise-Resiliency-Survey" source="Orion">Future Enterprise Resiliency Survey</keyword> (FERS), October 2021 shows that 92% of Indian enterprises realize the positive impact of digital transformation (DX) on the top and/or bottom line by 10% to 20%. Enterprises recognize that technology architecture is becoming business architecture and want to use technology to drive more revenue-generating activities. Indian enterprises will look to better position themselves against short-term volatility while staying on course toward long-term outcomes such as digital revenue growth. With the adoption of the ‘digital-first’ mentality, along with the ongoing pandemic, Indian enterprises are focusing on investments in technologies that drive automation of IT resources and business processes. In the post-pandemic era, if we may call it that, do you see this digital momentum continuing or will organizations take a pause to strategize further? The coming years will witness an acceleration in the adoption of digital technologies. In fact, IDC estimates emphasize that digital transformation (DX) spending in India is growing at a healthy compound annual growth rate (CAGR) of 11.90% from 2020 to 2025 and is expected to approach $99 billion as companies build on existing strategies and investments, becoming digital-at-scale future enterprises. By 2023, a whopping 75% of Indian enterprises will have comprehensive digital transformation (DX) implementation roadmaps, up from 27% today, resulting in true transformation across all facets of business and society. What will be the key areas of focus for enterprises’ digital investments in this context? While the momentum will continue, Indian enterprises will focus on a few key areas to derive benefits out of their digital investments. <ul><li>Having the right KPIs to measure and convert them to business outcomes: Indian enterprises will relook at how they measure the effectiveness of their IT teams and investments. They need to tie IT initiatives to business outcomes. </li><li>Keeping pace with changing technology and being innovative: It is always difficult to keep pace with ever-changing technology. However, it is critical to experiment with new technologies. The mindset of innovation will be the focus of Indian enterprises. Innovation need not be something big, something pathbreaking. It can be incremental small changes, but they will add in the long run.</li><li>Developing a culture of agility: Indian enterprises will focus on agility in trying new products and services to keep improvising. Since there is an accelerated demand for digital technologies, the war for digital talent will continue in 2022 as well. Indian enterprises will continue to focus on reskilling existing employees with digital technologies</li><li>Harnessing data: It is critical to breaking the functional and data silos. Indian enterprises will focus on analyzing the data on an ongoing basis. They will leverage AI to manage their IT operations efficiency and reduce the cost of operations.</li></ul>Skill shortage is coming across as a major roadblock for organizations in achieving their innovation goals, especially around digital/cloud technologies, and AI. How is this affecting their digital transformation roadmaps? Transformation projects that would otherwise take ages to get approvals were given the green light due to the pandemic, as it became a necessity for Indian enterprises for continued operations and product delivery. With this acceleration came a realization that a lack of skills was creating a bottleneck in the transformation. DX-related IT skill shortages will affect 90% of global enterprises by 2025, costing over $6.5 trillion globally through 2025 due to delayed product releases, reduced customer satisfaction, and loss of business according to IDC FutureScape: Worldwide Future of Work 2022 Predictions. When Indian enterprises are ‘underskilled, as opposed to understaffed, the consequences are similar, but the remediation is more complicated. The lack of skills has an adverse influence on the key business metrics including the profit line. Though a majority of the demand for skilled personnel is among IT professionals to implement and manage the technology underpinning the business transformation, there is also an increasing demand for digital skills in the business. These include leadership, analytics, coding, and managing projects in agile environments. Employees who have those skills can help take their businesses to the next level. How can Indian enterprises continue their DX journey against the growing skill shortage? Indian enterprises have several choices to address the challenge of underskilled employees —focus on addressing skills shortages through training, engage third-party support, and automation of processes, while <keyword id="7771650" type="General" weightage="20" keywordseo="gig-workers" source="Orion">gig workers</keyword> are also being utilized. According to IDCs Digital Transformation survey, India 2022, Indian enterprises report that poor resource skills or the availability of the right skill set for digital transformation or infrastructure modernization is among the top three challenges that Indian enterprises encounter. Indian enterprises invested in online training to reskill employees on digital skills and be prepared for expansion plans once the crisis ends. Some are collaborating with third parties such as IT service providers to invest in reskilling existing employees to bridge the skill gap. Indian enterprises are also looking to automate processes to reduce the impact of skill shortages. The demand for gig workers has also risen as they are reliable in accomplishing a business plan within a limited time frame. There is an increased urgency to adopt AI in business processes to allow employees to focus on strategic and core functions instead of performing repetitive tasks in a traditional setup. So, Indian enterprises should take a hybrid approach of having skills in-house and partners who can bring the right skills to the table. Indian enterprises have built capabilities through reskilling and partnerships in the areas of digital technologies, customer experience, automation, cloud (migration and modernization) , next-gen security, AI, IoT, etc. Solving the skills equation has become a C-suite issue, and Indian enterprises are moving to create a culture of continuous learning and collaboration that will support their digital resiliency efforts in the future. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/india/news/maha-crisis-fadvanis-shinde-to-decide-the-next-course-of-action/articleshow/92543340.cms">Maha crisis: Fadvanis, Shinde to decide the next course of action</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/india/news/uddhav-thackeray-the-accidental-chief-minister/articleshow/92559485.cms">Uddhav Thackeray: The accidental chief minister</a>

‘Tech architecture is becoming business architecture, enterprises recognize that’

Spending on Artificial Intelligence (AI) in the country may triple to USD 5 billion by 2027, an <keyword id="21652031" type="General" weightage="20" keywordseo="Intel-IDC-report" source="keywords">Intel-IDC report</keyword> released on Tuesday said. According to the report, entities in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> spent USD 1,703.8 million on AI in 2023. "<keyword id="20959016" type="General" weightage="20" keywordseo="AI-spending" source="keywords">AI spending</keyword> in India is expected to increase to USD 5 billion with CAGR (compound annual growth rate) of 31.5 per cent between 2023 to 2027. By 2027 AI will be everywhere," Sharath Srinivasamurthy, Associate Vice President, <keyword id="19950614" type="General" weightage="20" keywordseo="IDC" source="keywords" meta.keywordsubtype="org" meta.entityname="IDC" meta.hostid="261" meta.entityid="IDC">IDC</keyword> said. He said that in 2023, major spending of USD 209 million was driven by AI infrastructure provisioning and related software. It was followed by augmented customer service agents at USD 168.8 million, digital assistance USD 113.1 million, augmented threat intelligence USD 100.1 million and program advisors recommendation systems USD 97.1 million. "The infrastructure provisioning will continue to be the biggest contributor in overall spent," Srinivasamurthy said. Intel India Region Vice President and Managing Director, Santhosh Viswanathan said India is ready for AI as around 20 per cent of the world's data is produced in the country and it is the third biggest global market. Viswanathan said India leads globally in terms of technical skill availability. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/google-i/o-event-today-how-to-watch-and-what-to-expect/articleshow/110105611.cms" target="_blank">Google I/O event today – how to watch and what to expect</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-4-lite-to-launch-soon-in-india-expected-price-specs-and-everything-we-know-so-far/articleshow/110076267.cms" target="_blank">OnePlus Nord CE 4 Lite to launch soon in India – expected price, specs and everything we know so far</a><a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-up-8-5g-smartphones-account-for-over-70-of-shipments/articleshow/110002512.cms" target="_blank">Indian smartphone market up 8%, 5G smartphones account for over 70% of shipments</a>

AI spending in India may triple to USD 5 bn by 2027: Report

New Delhi, June 2 (IANS) As a result of the spread of the pandemic, 64 per cent of the organisations in India are expected to increase demand for cloud computing while 56 per cent for cloud software to support the new normal, a new IDC report said on Tuesday. The need to work remotely is bolstering the demand for SaaS-based collaborative apps, to ensure on and off-site presence at all the times and zero-disruption to business. This will also increase the need for remote support services  both human professional services and of the cloud software  especially security/identity. "As industries move away from infrastructure of ownership, pay-per-use models are likely to see an accelerated demand. Public cloud services will be among the few technologies that are positively impacted by the COVID-19," said Rishu Sharma, Principal Analyst, Cloud and Artificial Intelligence, IDC India. The India cloud market is going to witness a visible impact in the probable and pessimistic scenario in terms of heightened adoption with public cloud leading the forefront of all infra-related investments, according to IDC's 'COVID-19 Impact on IT spending Survey May 2020'. According to it, virtual private networks (VPNs), collaboration suites, end-point encryption, and cloud tools will witness an uptake. "Industries like media, education, and IT/ITeS are likely to see an increased uptick primarily because of online entertainment, virtual classrooms, and increased need for collaboration as a result of increased remote working," the findings showed. "We expect an accelerated adoption of cloud, as organizations explore testing of many new initiatives natively on cloud," Sharma added. The report covered the change in cloud budgets and the technology demands to ensure business continuity. According to Sharath Srinivasamurthy, Research Director, Enterprise Solutions &amp; ICT Practices, IDC India, while the impact of COVID-19 will be clearer in the coming quarters, Cloud has been a saviour during the crisis. "Cloud-based VDI and collaboration tools helped enterprises to stay in touch with their employees, clients, and partners. Cloud-based solutions continued to run and enable seamless business operations during the crisis and this has increased the confidence of enterprises in embracing cloud," explained Srinivasamurthy. --IANS na/

Covid-19 to push 64% Indian firms adopt cloud computing: IDC

New Delhi, May 28 (IANS) For over 65 per cent of organisations in India, the primary drivers for using Artificial intelligence (AI) are improved productivity and faster time to market with new products and services, International Data Corporation (IDC) said on Thursday. Organisations across multiple verticals have been leveraging AI, driven by their own needs, but all of them are considering intelligent systems to either reduce effort on mundane tasks or establish specialized real-time insights for faster decision making, IDC said in a report titled "If You Think Artificial Intelligence Is Not for You, You May Just Want to Reconsider". This adoption has been varied across industries but has remained steady. Healthcare institutions and hospitals are deploying AI for clinical imaging and point-of-care applications. The banking, financial services and insurance (BFSI) vertical is exploring multiple use cases, varying from chatbots and conversational AI platforms to fraud detection in claims and insurance. As other sectors explore AI, the public sector is almost initiating a similar arc of adoption, IDC said. "AI is not new. Over the years, it has progressed with organisations in India now exploring numerous use cases to realise its potential. Organisations are leveraging AI to enhance efficiency, improve productivity, and drive newer sources of revenue," Rishu Sharma, Principal Analyst, Cloud and Artificial Intelligence, IDC India, said in a statement. "Hence, it is interesting to witness how these use cases vary from predominant verticals to the emerging ones," Sharma said. The report, which talks about the reasons for organisations in India to consider AI and the hurdles they are facing in the market, leverages the data from IDC's conversations with the end-customers along with IDC's Cognitive AI Adoption Survey, 2019, that involved talking to over 100 leaders in India. "Traditionally, AI has been on the wish list of organisations and had not moved to the mainstream in terms of IT investments," said Sharath Srinivasamurthy, Research Director, Enterprise Solutions &amp; ICT Practices, IDC India. "However, with increasing examples of real-life use cases being effectively handled by AI, organizations are looking at increasing their investments on AI to drive business outcomes," Srinivasamurthy said. --IANS gb/kr

Most Indian organisations want AI for improved productivity

New Delhi, Apr 1 () Growth in global IT spending is expected to reduce by 3-4 per cent by the end of 2020 due to the coronavirus pandemic, but it also presents an opportunity to IT vendors to step-up as consulting partners for their clients, research firm IDC said on Wednesday. IDC said while the major impact is expected to be on hardware business, the software and services businesses are also expected to slow down. "However, adoption of collaborative applications, security solutions, Big Data and AI are set to see an increase in the coming days. It has also given an opportunity for IT vendors to test some concepts of 'Future of Work' and some of them might become mainstream as the dust settles," IDC noted. It also provides an opportunity to IT vendors to step-up as consulting partners to hand-hold their clients in helping them sail through the crisis, it added. "While the actual impact of COVID-19 on India market will be evident by middle of 2020, we expect a slowdown in terms of discretionary IT spending, contract renewals and new deals getting signed as enterprises recalibrate by cost structure in coming months. "Existing project executions have also taken a hit due to travel restrictions in place," IDC India Research Director Enterprise Solutions and ICT Practices Sharath Srinivasamurthy said. He added that IT vendors will be forced to relook at their growth targets for the rest of the year as the impact will become evident in the next few quarters. "On the other hand, it has provided an opportunity to IT vendors to test their resilience on business continuity, remote connectivity, and security as they look at innovative ways to service their clients. Enterprises are looking at IT vendors to handhold them in the hour of crisis," he said. IDC pointed out that corporates across the country are implementing alternative ways of working, which is generating a parallel corporate line that demands to be connected from where they want, when they want and to who they want. "While work from home is not a new concept for Indian corporates, it certainly is a testing time to see the success at this scale. "Enterprises are also exploring ways of working together that leverages conversations, meetings, and assets across platforms with employees working remotely from wherever they are located to serve customers better and ensure business continuity," it said. IDC expects the adoption of collaborative applications growing at a rapid pace after the COVID-19 outbreak. IT vendors are working with clients to get special approvals, wherever needed, to have employees connect remotely to continue providing services especially in supporting mission-critical IT systems. The companies are also expected to pay attention to have necessary 'force majeure' clauses to cover situations like outbreaks in addition to existing clauses around acts of God and natural disasters in their contracts. SR SHW ABMABM

Growth in global IT spending may fall by 2020-end but presents opportunities for IT cos, says IDC

New Delhi, Apr 30 () India's domestic IT spending on hardware, software and services is expected to drop by 4.5 per cent in 2020 impacted by the coronavirus pandemic, according to research firm IDC. The forecast decline compares with 2019 growth rate of 9.1 per cent as per IDC's Worldwide Black Book Live Edition, March 2020. IDC said the hardware segment will contribute the most to this decline. It said growth in spending on software this year is expected to drop to 4.1 per cent due to the impact of COVID-19 pandemic, as compared to 2019 growth rate of 16.7 per cent as enterprises re-look at their buying decisions owing to increased focus on profitability. Growth in IT services is expected to be almost flat at 6.9 per cent as enterprises look at maintaining the status quo on IT services contracts, it added. IDC said there will be a demand for productivity applications as the remote workforce increases. Collaborative application vendors are looking at making minor adjustments and offering the premium version through a minimum price subscription model. Apart from collaborative tools, cloud platforms, security solutions, automation technologies, and most of the other applications will post only marginal growth, it added. On the IT services side, endpoint and network services will witness a stronger demand because of extended remote working options. "Hardware and software implementation or integration services will be slightly impacted because of the non-deployment/non-availability of new hardware or software. Implementation and integration services will be severely impacted," IDC noted. New outsourcing deals or renewals will be shelved because of financial duress impacting the growth of the managed services market, it added. "IT vendors are gearing up to adapt and transform the way of doing business, in a bid to support their clients during these testing times," IDC India Senior Research Manager (Enterprise Software &amp; IT Services) Shweta Baidya said. Although IT spending will be impacted, specific solutions such as conferencing and collaboration, secure endpoint and network management, CRM, cloud storage, back-up and recovery solutions, and remote support and services will continue to witness a steady rise amidst the crisis, she added. "Enterprises are investing in solutions that enable their remote workforce to remain productive without service disruptions," she said. IDC said renewal of long-term IT services contracts will be delayed by a few quarters and organisations will adopt a wait-and-watch approach for non-critical IT spending. However, enterprises are also looking at cloud options for business continuity, infrastructure services, and application management. The COVID-19 pandemic has led to an unprecedented situation globally. It could be an economically catastrophic event, forcing enterprises to re-look at their IT spend. Focus of chief executives will shift to initiatives that impact operational agility and resiliency, and hence, digital transformation strategies will be recalibrated, IDC said. "The COVID-19 pandemic has created significant disruption to the economy across the globe, leading to tectonic shifts in how the business will be conducted and leverage IT for accelerated transitions. Digital transformation has again become the centrepiece for all boardroom discussions as enterprises adjust to a new world in which all businesses are virtual. Enterprises are evaluating software-as-a-service (SaaS) and cloud models to facilitate business in a digital world," IDC India Research Director (Enterprise Solutions and ICT Practices) Sharath Srinivasamurthy said. SR HRS

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How CIOs can navigate the Great Resignation

BI India Bureau

‘Tech architecture is becoming business architecture, enterprises recognize that’

Radhika Nallayam

AI spending in India may triple to USD 5 bn by 2027: Report

PTI

Covid-19 to push 64% Indian firms adopt cloud computing: IDC

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Most Indian organisations want AI for improved productivity

IANS

Growth in global IT spending may fall by 2020-end but presents opportunities for IT cos, says IDC

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IDC sees India's IT spending drop by 4.5 pc in 2020 amid COVID-19 pandemic

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