A new study by Kyndryl has claimed the vast majority (90%) of leaders are confident that their firm’s IT infrastructure is ‘best in class’ - but that's just about the only thing they are confident in.
When pushed further by researchers, executives began to falter in their certainty. Despite the confidence, only 39% believe their tech is ‘future ready’, and 64% of CEOs are concerned their IT is either outdated, or end-of-life, which sounds less than ideal.
The faith in IT systems also falters when it comes to dealing with threats, as 65% are concerned about cyberattacks, and cybersecurity ranks as a ‘very significant challenge’ for 56% of firms.
A race to modernization
In a similarly paradoxical finding by researchers, 86% of respondents claim their AI implementation is again best-in-class, but yet only 29% believe their AI tools are ready to manage future risks. So, presumably there’s going to be a huge day of reckoning some time soon where millions of perfectly healthy IT systems become obsolete.
“Forty-four percent of the inventory Kyndryl holds for its customers consists of end-of life or end-of-service technology – making it more vulnerable to cyber-attacks, as well as at higher risk for prolonged outages,” the company noted.
“In practical terms, that means almost half of the world’s most critical infrastructure is not resilient and has to be upgraded.”
Studies have shown outdated tech not only leaves organizations vulnerable to attacks, but also costs them to maintain, so it’s a good idea to review and update systems where possible.
Whilst simultaneously end-of-life and best-in-class, respondents say tech is outpacing the training that IT professionals are receiving, as 40% of leaders report a skills gap that is impeding the modernization process.
The take-away from the report is there probably needs to be a deeper understanding from executives about their systems and how they can be modernized.
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