To thrive amidst change and capture the value of disruptive technologies like generative AI, companies need a digital core that is ready for reinvention. To achieve this, companies must accomplish three things: 1) build an industry leading digital core, 2) boost investments in innovation, and 3) balance ‘technical debt’ in software development.

This comes from global research conducted by the consultancy firm Accenture, which surveyed 1,500 companies across 10 countries and 19 industries. The study revealed that achieving all three created a 60:40 effect: a 60% higher revenue growth rate and a 40% improvement in profitability.

This occurs in a context where companies are increasingly aware of the enormous power of generative AI to transform all facets of business. However, expectations for generative AI are outpacing their current digital capabilities, considering that 50% of the executives surveyed believe they can scale AI across the entire company within six to 12 months. Nevertheless, only 13% are ‘extremely confident’ that they have the right data strategies and core digital capabilities to effectively leverage this cutting-edge technology.

The truth is that this AI-driven strategic shift has created the need for a digital core that enhances the power of machines, humans, and the interaction between them in new and significant ways. Accenture’s analysis emphasizes that a digital core that is ‘ready for reinvention’ is non-negotiable today.

In fact, companies with industry-leading digital cores are generating twice as many first-generation AI functions and are expected to double value creation. According to the recently released study, the benefits of an industry leading digital core are multiple, including a 20% revenue growth rate, a 30% increase in profitability, and greater ease in diversifying into other geographies and industries.

DATA

50% of the executives surveyed by Accenture believe they can scale gen AI enterprise-wide in 6 to 12 months. 13% are ‘extremely confident’ that they have the right data strategies and the core digital capabilities in place to effectively leverage gen AI.