Industry Insights

View the detailed results of our global survey by industry group. Reach out to your Protiviti contact for more detailed insights or contact us.

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Go deeper – Technology, Media and Telecommunications

Go deeper – Manufacturing and Distribution

 

Does your company have clearly defined innovation goals?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Yes

87%

84%

82%

72%

78%

74%

70%

No

13%

16%

18%

28%

22%

26%

30%

I don't know

0%

0%

0%

0%

0%

0%

0%

 

Which of the below best describes the status of your company's technology innovation strategy?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
We have a clear innovation strategy

69%

58%

61%

51%

53%

42%

42%

We are currently developing an innovation strategy

27%

35%

36%

46%

43%

50%

49%

We have no plans to create an innovation strategy

4%

7%

3%

3%

4%

8%

9%

 

What percentage of your company's current innovation activity is focused on each of the following areas?

Shown: Mean scores

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Optimisation (of current systems, products, processes etc.)

39%

40%

42%

43%

38%

42%

48%

Building Resilience (against disruption)

30%

27%

27%

26%

30%

27%

36%

Growth (new markets, revenue, etc.)

31%

33%

31%

31%

32%

31%

16%

Other

0%

0%

0%

0%

0%

0%

0%

 

Does your company have a dedicated lab or think tank that focuses on innovation?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Yes

68%

63%

67%

52%

54%

53%

44%

No

32%

37%

33%

48%

46%

47%

56%

I don't know

0%

0%

0%

0%

0%

0%

0%

 

Which of the following best describes your organisation's top three challenges when it comes to innovation?

Shown: Ranked #1

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Architectural constraints (including technical debt)

5%

8%

8%

4%

8%

12%

10%

Board/executive buy-in

6%

2%

4%

5%

2%

5%

6%

Culture (collaboration, curiosity, exploration)

4%

6%

14%

2%

6%

10%

6%

Justifying investment in innovation

11%

11%

7%

9%

12%

12%

10%

Lack of diversity of perspective

8%

5%

11%

13%

6%

8%

11%

Lack of governance and infrastructure

11%

10%

7%

9%

11%

13%

5%

Operational challenges (for example,
prioritising "business as usual" over innovation)

10%

6%

8%

11%

9%

4%

5%

Organisational structure (teams, processes)

5%

7%

4%

12%

10%

7%

4%

Regulatory and compliance requirements

16%

14%

14%

17%

15%

18%

14%

Security risks

12%

16%

12%

14%

13%

7%

13%

Talent (upskilling, staff retention, resource capacity)

7%

11%

9%

4%

6%

3%

14%

 

Who is the key person responsible for driving innovation at your company?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Chief Executive Officer or equivalent

4%

5%

2%

4%

3%

4%

10%

Chief Information Officer or equivalent

8%

12%

5%

6%

16%

13%

14%

Chief Innovation/Strategy officer of equivalent

53%

35%

52%

55%

34%

52%

46%

Chief Operations Officer or equivalent

6%

3%

6%

6%

11%

3%

4%

Chief Product Officer or equivalent

3%

6%

4%

1%

5%

5%

2%

Chief Technology Officer or equivalent

26%

39%

31%

28%

31%

22%

24%

A different person than above

0%

0%

0%

0%

0%

1%

0%

There is no-one driving innovation at my company

0%

0%

0%

0%

0%

0%

0%

 

Which of the following type(s) of technologies, if any, does your company use?

Shown: "Currently using" responses. Multiple responses permitted.

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
5G

64%

64%

44%

44%

54%

46%

50%

Artificial intelligence/machine learning

49%

49%

49%

59%

46%

53%

38%

Augmented reality and/or virtual reality

18%

37%

46%

32%

28%

30%

6%

Blockchain

52%

42%

46%

49%

41%

42%

28%

Cloud

71%

79%

79%

76%

68%

79%

68%

Edge computing

44%

48%

50%

44%

43%

52%

39%

Internet of Things

65%

67%

74%

78%

73%

68%

66%

Metaverse

8%

11%

13%

2%

12%

3%

3%

No code/Low code

32%

38%

46%

26%

26%

32%

38%

Quantum computing

19%

24%

24%

20%

24%

27%

10%

Robotics

23%

28%

17%

24%

31%

19%

30%

Web 3

22%

31%

21%

21%

25%

12%

37%

 

How concerned are you about the security risks (for example, breaches, data loss, improper controls, poor access management) associated with implementing innovative new technologies?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
5
Very concerned

48%

50%

42%

54%

35%

42%

25%

4

40%

34%

36%

29%

45%

36%

55%

3
Moderately concerned

12%

14%

22%

16%

18%

22%

20%

2

0%

1%

0%

1%

2%

0%

0%

1
Not at all concerned

0%

1%

0%

0%

0%

0%

0%

 

Which of the following areas do you consider the MOST important for maintaining an innovative organisation?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Building the right processes and activities

18%

19%

22%

26%

26%

29%

23%

Enabling an agile technology environment

26%

24%

24%

24%

20%

23%

35%

Fostering an innovative culture

41%

38%

37%

32%

37%

32%

31%

Hiring the right talent (different roles and specialisms)

14%

18%

16%

18%

16%

15%

11%

None of the above

1%

1%

1%

0%

1%

1%

0%

 

What skills-related gaps, if any, impede innovation at your company?

Multiple responses permitted.

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Collaboration

19%

20%

19%

24%

13%

19%

14%

Communication and organisation change enablement

27%

24%

22%

28%

24%

10%

25%

Design thinking

31%

37%

45%

25%

37%

48%

38%

Enterprise agility

32%

31%

35%

31%

35%

49%

34%

Lack of training

25%

16%

19%

14%

21%

18%

22%

Leadership

12%

11%

13%

9%

18%

17%

14%

Project management

23%

24%

18%

21%

16%

22%

26%

Solution architecture

44%

39%

29%

36%

46%

34%

31%

Strategic thinking

29%

28%

28%

31%

31%

28%

30%

Technical knowledge

38%

30%

24%

32%

31%

25%

37%

Other

0%

0%

0%

1%

0%

0%

0%

None

1%

2%

1%

1%

3%

0%

1%

 

Are you using any of the following approaches to help drive innovation at your company?

Shown: "Yes, and it enables our innovation, helping us to deliver the results we would like" responses.

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Agile

76%

59%

68%

63%

70%

58%

59%

Design thinking

58%

54%

52%

62%

59%

58%

56%

Hackathons

51%

39%

39%

46%

25%

40%

31%

Journey mapping

57%

48%

49%

51%

49%

58%

50%

Lean start-up method

31%

38%

41%

38%

37%

34%

29%

 

How well do innovation leaders bridge the gap between technology and business needs at your company?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
5
Very well

39%

31%

29%

29%

27%

24%

22%

4
Somewhat well

55%

56%

58%

54%

57%

58%

62%

3
Neutral

6%

12%

13%

16%

16%

18%

15%

2
Somewhat poorly

0%

1%

0%

1%

0%

0%

1%

1
Very poorly

0%

0%

0%

0%

0%

0%

0%

 

When it comes to innovation, how well do your company’s business and technology leaders collaborate in the following areas?

Shown: Top 2 Box scores (aggregate percentage for "Very well" (5) and "Somewhat well" (4) on our 5-point scale).

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Educating non-technical board members on the benefits of investing in innovation

60%

68%

56%

64%

57%

62%

43%

Governance, risk and compliance

72%

74%

77%

81%

72%

78%

77%

Innovation culture

67%

69%

71%

61%

65%

66%

69%

Innovation processes

70%

69%

68%

64%

69%

67%

73%

Innovation strategy

82%

81%

79%

81%

82%

75%

82%

Knowledge sharing

79%

81%

78%

78%

78%

78%

83%

Strategic leadership

82%

79%

82%

72%

80%

79%

81%

Talent upskilling and retention

71%

70%

68%

66%

56%

70%

83%

Transformational change

74%

72%

72%

73%

69%

67%

78%

 

What impact is technical debt having on your ability to innovate?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
5
Significant impact

31%

24%

18%

18%

19%

18%

20%

4

47%

50%

53%

43%

51%

50%

42%

3
Moderate Impact

21%

25%

27%

37%

28%

31%

38%

2

1%

0%

2%

2%

1%

1%

0%

1
No impact

0%

1%

0%

0%

1%

0%

0%

 

What percentage of the resources below would you estimate is dedicated to resolving technical debt?

Shown: Mean scores

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
IT budget ($)

36%

33%

32%

27%

34%

33%

25%

IT effort (human resource)

21%

21%

21%

24%

20%

22%

19%

 

What are the top three strategies that your company prioritises when dealing with technical debt?

Shown: Ranked #1

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Appointing a technology leader as responsible and accountable for technical debt solutions

11%

10%

5%

9%

9%

12%

7%

Educating teams on technical debt and how to report it

12%

12%

14%

10%

15%

13%

14%

Formulating and following guidelines to managing technical debt

9%

15%

8%

6%

11%

14%

10%

Having a knowledge base to provide information even when specific employees have left the team or business

15%

10%

12%

10%

16%

11%

6%

Having a process in place to track and report technical debt

11%

8%

14%

15%

11%

10%

17%

Incorporating technical debt management into innovation strategies

9%

9%

12%

10%

9%

8%

12%

Revamping software, hardware and systems where technical debt occurs (e.g., refactoring code, etc)

9%

9%

10%

8%

11%

10%

14%

Tracking software, hardware and systems where technical debt occurs

10%

16%

11%

16%

9%

14%

11%

Tracking technical debt in new systems

14%

11%

14%

16%

9%

8%

9%

Other strategies

0%

0%

0%

0%

0%

0%

0%

 

Which of the following technologies, if any, is your organisation using to help reduce or alleviate technical debt?

Shown: "Currently using" responses. Multiple responses permitted.

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
5G

56%

58%

43%

40%

49%

44%

42%

Artificial intelligence/machine learning

46%

42%

28%

36%

44%

40%

34%

Augmented reality and/or virtual reality

8%

16%

37%

14%

14%

6%

1%

Blockchain

32%

25%

26%

28%

30%

30%

12%

Cloud

59%

74%

68%

70%

60%

75%

49%

Edge computing

33%

33%

38%

29%

36%

34%

22%

Internet of Things

58%

59%

68%

68%

68%

61%

58%

Low code/no code

18%

17%

28%

18%

12%

11%

18%

Metaverse

3%

7%

3%

4%

4%

1%

2%

Quantum computing

14%

21%

22%

18%

17%

22%

5%

Robotics

14%

17%

8%

16%

16%

9%

15%

Web 3

12%

10%

12%

11%

8%

6%

24%

 

If an economic recession happens, how do you anticipate your technology innovation strategy/investments will change?

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
We expect to advance our technology innovation strategy/investments

42%

39%

29%

26%

32%

28%

27%

We expect to cut back on our technology innovation strategy/investments

40%

40%

51%

54%

47%

46%

58%

We anticipate no changes to our technology innovation strategy/investments

18%

20%

20%

20%

21%

26%

15%

I don't know

0%

1%

0%

0%

0%

0%

0%

Global IT Executive Survey lights
Global IT Executive Survey lights
Global IT Executive Survey lights
  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Sample Size

160

160

160

160

160

125

125

 

Industry

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Financial Services: (Net) 100% - - - - - -

Financial Services - Asset & Wealth Management

19%

-

-

-

-

-

-

Financial Services - Banking & Capital Markets

25%

-

-

-

-

-

-

Financial Services - Mortgage & Consumer Lending

16%

-

-

-

-

-

-

Financial Services - Payments

16%

-

-

-

-

-

-

Financial Services - Private Equity

12%

-

-

-

-

-

-

Financial Services - Other

-

-

-

-

-

-

-

Insurance (other than Healthcare Payer)

12%

-

-

-

-

-

-

Technology, Media, Telecommunications: (Net) - 100% - - - - -

Technology (Software/High-Tech/Electronics)

-

33%

- - - - -

Media and Entertainment

-

33%

- - - - -

Telecommunications and Data Infrastructure

-

34%

- - - - -
Consumer Products & Services: (Net) - - 100% - - - -

Consumer Packaged Goods

- -

50%

- - - -

Retail

- -

50%

- - - -
Healthcare: (Net) - - - 100% - - -

Healthcare - Integrated Delivery Systems (Provider & Payer)

- - -

34%

- - -

Healthcare Payer/Insurance

- - -

34%

- - -

Healthcare Provider/Services

- - -

32%

- - -
Manufacturing & Distribution: (Net) - - - - 100% - -

Automotive

- - - -

14%

- -

Biotechnology/Medical Devices

- - - -

11%

- -

Chemicals and Materials

- - - -

11%

- -

Manufacturing (other than Technology)

- - - -

18%

- -

Pharmaceuticals and Life Sciences

- - - -

11%

- -

Transportation and Logistics

- - - -

18%

- -

Warehousing/Distribution

- - - -

17%

- -
Energy & Utilities: (Net) - - - - - 100% -

Mining

-

-

-

-

-

24%

-

Oil and Gas

-

-

-

-

-

26%

-

Power and Utilities

-

-

-

-

-

26%

-

Renewables

-

-

-

-

-

24%

-

Public Sector (National Gov. only): (Net) - - - - - - 100%

Government

-

-

-

-

-

-

100%

 

Size (by Annual Revenue in USD)

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Less than $25 million

-

-

-

-

-

-

-

$25 million - $99.99 million

-

-

-

-

-

-

-

$100 million - $499.99 million

-

-

-

-

-

-

-

$500 million - $999.99 million

5%

22%

15%

34%

24%

17%

20%

$1 billion - $4.99 billion

10%

29%

18%

21%

24%

30%

40%

$5 billion - $9.99 billion

45%

21%

31%

19%

21%

34%

20%

$10 billion or more

40%

28%

36%

26%

31%

19%

20%

 

Size (by Assets Under Management in USD)

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Less than $250 million (0.15)

-

-

-

-

-

-

-

$250 million - $999.99 million (0.62)

-

-

-

-

-

-

-

$1 billion - $4.99 billion (3)

-

-

-

-

-

-

-

$5 billion - $9.99 billion (7.50)

27%

-

-

-

-

-

-

$10 billion - $24.99 billion (17.50)

22%

-

-

-

-

-

-

$25 billion - $49.99 billion (37.50)

22%

-

-

-

-

-

-

$50 billion or more (62.50)

29%

-

-

-

-

-

-

 

Ownership Type

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Publicly held, for profit entity

52%

58%

65%

34%

59%

69%

-

Privately held, for profit entity - preparing to become publicly held

14%

14%

13%

18%

11%

9%

-

Privately held, for profit entity - no current plans to become publicly held

33%

28%

22%

40%

30%

22%

-

Government agency

1%

0%

-

1%

-

-

100%

Non-profit organisation

-

-

-

7%

-

-

-

 

Company Headquarters

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Australia

4%

7%

2%

2%

2%

10%

9%

Canada

14%

9%

6%

6%

4%

19%

10%

China

2%

8%

6%

6%

6%

2%

-

France

8%

4%

6%

2%

8%

3%

2%

Germany

4%

3%

7%

3%

12%

2%

2%

Hong Kong

1%

4%

7%

8%

7%

6%

-

India

5%

4%

2%

7%

6%

10%

2%

Italy

5%

4%

5%

5%

6%

7%

-

Japan

2%

5%

8%

4%

6%

6%

-

Netherlands

4%

3%

9%

6%

4%

4%

3%

Singapore

5%

9%

2%

7%

4%

3%

3%

United Arab Emirates

3%

4%

2%

7%

6%

7%

3%

United Kingdom

17%

12%

12%

2%

7%

8%

8%

United States

26%

24%

26%

35%

22%

13%

58%

 

Job Title

  Financial Services Technology, Media, Telecommunications Consumer Products & Services Healthcare Manufacturing & Distribution Energy & Utilities Government
Chief Information Officer

21%

10%

16%

22%

18%

24%

6%

Chief Information Security Officer

23%

15%

21%

17%

11%

12%

3%

Chief Technology Officer

16%

32%

10%

18%

16%

18%

4%

Senior Vice President of Information Technology

15%

14%

19%

14%

15%

16%

2%

Vice President of Information Technology

16%

9%

16%

19%

17%

18%

15%

Director of Information Technology

9%

20%

18%

10%

23%

12%

70%

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