About 38 per cent of the Indian companies that had participated in the survey revealed that they do not have any plans to adopt digital technology for their businesses, said a report by PwC India.
According to the research, digital champions from across the six sectors in India believe that being resilient, transparent and sustainable will prepare them for future growth.
However, they also opine that greater innovation and faster time to market will help them to stay relevant in the competitive landscape in the coming days, it added.
The report stated that Indian manufacturing companies currently prefer to adopt one standardised digital solution across plants compared to global companies which prefer one standardised digital solution with different functionalities or modules.
Indian companies are showing an upward trend towards adopting analytics and AI with a current implementation rate of 54 per cent, according to the report.
Notably, the average payback period is less than three years for the technology deployment use cases. Shorter payback periods encourage organisations to invest in technological solutions.
“Though investment in digital technology remains a challenge, the lack of planning for aligning digital transformation with the organisation’s objectives and implementing digital technology remains a greater problem,” it mentioned.