Skip to content
Pangu

Pangu

  • Home
  • Xiaomi phones
  • Pangu jailbreak
  • Pangu firmware
  • Telecoms finance
  • Accounts
  • Terms and Conditions
  • Privacy Policy
Watch Online
  • Home
  • Telecoms finance
  • Survey probes effects of regulation on digital transformation • The Register
  • Telecoms finance

Survey probes effects of regulation on digital transformation • The Register

Kelly Choos January 27, 2022 3 min read

For highly regulated industries, compliance is seen as a barrier to digital transformation, but it’s also seen as a key driver of modernization efforts, at least according to IBM research.

This seemingly paradoxical finding comes from a British survey conducted by IBM and the research firm Censuswide which studies the main drivers and obstacles to modernization in three of the most regulated sectors: financial services, telecommunications and the public sector. The survey included responses from more than 600 IT decision makers and professionals.

Across all respondents, security and regulatory compliance were listed as the top factors preventing organizations from going digital, with 44.8% agreeing with this. However, when asked their opinion on new regulations and policies, 40% also said that these were a catalyst for innovation and created the opportunity to offer new or differentiated products and services.

Other drivers of modernization included increasing security threats and the need to optimize costs, both highlighted by 32% of respondents. Other barriers to digital transformation included data security, a lack of skills in the workforce, and the costs of modernization.

Many of the respondents are also well aware of the potential consequences of not delivering digital transformation, with 34.8% indicating that their main concern was the increased cost of managing and maintaining a legacy system, followed by a security risk increased to 34.3%. percent, and then other factors such as organizational inefficiency and increased risks due to non-compliance with industry regulations.

When it comes to making changes in response to recent or upcoming regulations, 47% said they will need to upgrade their workforce or hire new people in response, 43% said they have already done and only 10% said they hadn’t planned.

According to IBM, the trend for companies in these highly regulated industries is to adopt industry-grade clouds rather than generic cloud services to help them balance compliance with the need to innovate. Which is convenient, in line with IBM’s vision that the world will be a mix of on-premises, public cloud, and private cloud.

Respondent figures indicate that 88% of them have migrated or plan to migrate to an industry-specific cloud platform that supports the compliance features they need.

Unsurprisingly, 49% of respondents said using a platform with built-in automated regulatory controls would boost their ability to innovate, while 45% said they thought moving critical workloads to public clouds to take advantage of services such as AI, data analytics and quantum computing would have an impact.

A large proportion of respondents felt their organization was well prepared for potential disruptions, with 72% saying their company was ready for any policy changes and 75% believed they were ready to deal with potential security threats. Everyone…until something happens.

Breaking down the responses from the different industries covered in the report, IBM found that 71% of financial services believe that “digital native” companies pose a threat to their business model, which has made their transformation efforts more urgent. forcing to focus on the increasing use of emerging technologies.

The top modernization priority for these companies is upgrading to new enterprise-grade cloud security technologies, but also increasing the use of data analytics and AI.

Among public sector organisations, 85% of respondents have adopted or plan to adopt hybrid cloud architectures and work with multiple cloud providers, perhaps unsurprising given that the UK government has adopted a “cloud-first” policy for the acquisition of new information technologies. services almost a decade ago.

Nearly three quarters (73%) of public sector respondents indicated that their organization was forced to upgrade its security strategy in light of recent cyberattacks like SolarWinds.

For the telecommunications industry, there is intense pressure to move to digital platforms as part of network transformation as 5G is adopted, IBM said, and this led 89% of respondents to declare that they use or plan to adopt an industry-specific technology. cloud platform for telecoms.

The study’s findings show that these highly regulated industries are feeling pressure to transform, but they cannot afford to let go of security, resiliency and compliance, according to IBM.

“As regulation continues to advance, it is critical for enterprises to avoid vendor lock-in and adopt hybrid multi-cloud strategies to achieve stability, keeping compliance and data privacy at the forefront” , said Howard Boville, senior hybrid cloud veteran at IBM. ®

Related posts:

  1. Mastercard (MA) answer to streamline invoice funds in UK
  2. Zimbabwean Econet CEO Try Masiyiwa invests in information facilities on the continent
  3. Machine Financing: How NuovoPay Solves Operator Challenges
  4. Malaysia-based Telecom Axiata Group and Norwegian Telenor to merge Malaysian cell corporations

Continue Reading

Previous: What’s up with… Market shares RAN, Vodafone UK, Bharti Airtel, 5G
Next: MTN reiterates its commitment to building a strong telecommunications ecosystem in Ghana

Related Stories

Dear Mr. Musk, stop bleating about Twitter bots and move on | Nils Pratley
4 min read
  • Telecoms finance

Dear Mr. Musk, stop bleating about Twitter bots and move on | Nils Pratley

May 17, 2022
UAE rival launches $4.4 billion shock raid on Vodafone
2 min read
  • Telecoms finance

UAE rival launches $4.4 billion shock raid on Vodafone

May 15, 2022
Samoa – Telecoms, Mobile and Broadband – Statistics and Analysis
1 min read
  • Telecoms finance

Samoa – Telecoms, Mobile and Broadband – Statistics and Analysis

May 13, 2022

Categories

app store ios device ios ios ios jailbreak iphone ipad ipod touch jailbreak ios jailbreak tool operating system pangu jailbreak pangu team running ios united states version ios xiaomi mi

  • Accounts
  • Pangu firmware
  • Pangu jailbreak
  • Telecoms finance
  • Xiaomi phones

Recent posts

Recent Posts

  • 3 Ways to Manage Your Finances

  • Business News | Stock and Equity Market News | Financial News

  • Dear Mr. Musk, stop bleating about Twitter bots and move on | Nils Pratley

  • Mi Mix Fold 2 would be the “thinnest and lightest” foldable phone

  • UAE rival launches $4.4 billion shock raid on Vodafone

  • Xiaomi Mi Smart Projector 2: High style, low light, high price

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • August 2019
  • June 2019
  • April 2019
  • February 2019
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • May 2018
  • April 2018
  • March 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • August 2014
  • July 2014
  • June 2014
  • January 2014
  • November 2013
  • February 2013
  • December 2012

You may have missed

Business News | Stock and Equity Market News | Financial News
2 min read
  • Xiaomi phones

Business News | Stock and Equity Market News | Financial News

May 18, 2022
Dear Mr. Musk, stop bleating about Twitter bots and move on | Nils Pratley
4 min read
  • Telecoms finance

Dear Mr. Musk, stop bleating about Twitter bots and move on | Nils Pratley

May 17, 2022
Mi Mix Fold 2 would be the “thinnest and lightest” foldable phone
2 min read
  • Xiaomi phones

Mi Mix Fold 2 would be the “thinnest and lightest” foldable phone

May 16, 2022
UAE rival launches $4.4 billion shock raid on Vodafone
2 min read
  • Telecoms finance

UAE rival launches $4.4 billion shock raid on Vodafone

May 15, 2022