Artificial Intelligence propels Endava's digital services revenue, projected to surge by 44% by 2029.
Here's the rewritten version:
Ready to Level Up Your Business? Digital Services Set to Dominate Revenue Streams by 2029
Get ready to boost your bottom line, folks! According to a report shedding light on the digital services landscape, this sector is predicted to explode by a jaw-dropping 44% by 2029, snatching up a whopping 49% of a company's revenue[1][3]. This blockbuster growth is all thanks to Endava (NYSE 'DAVA'), a tech whiz kid pioneering cutting-edge digital services[3].
This seismic shift in the business world means that businesses worldwide are ditching the status quo in favor of smarter, leaner operations. The report drives home the message that modernizing digital infrastructure is the ticket to scalability and affordability[1].
So, what's the secret sauce? AI and machine learning are the star players. As businesses morph from simple digital architects to full-blown tech innovators, AI tech will be the golden ticket to driving forward that evolution[1]. And guess what? Most organizations are on board, with 48% of companies already considering themselves digital businesses[1]. But the report stresses that the future belongs to those who dive headfirst into AI[1].
The study underscores the costly consequences of dragging your feet when it comes to updating legacy systems. A whopping 49% of companies blame overspending on digital infrastructure on these outdated systems[1]. So, got legacy baggage weighing you down? Time to dump it!
As businesses start playing catch-up, AI is set to take center stage, enabling companies to dream big while keeping costs in check[1]. In the next phase of the digital revolution, AI is set to revolutionize automation and intelligence use cases, ushering in a new era of innovation[1].
These findings point to a digital transformation voyage without an end in sight. And AI? It's captaining the next chapter, with businesses that shy away from this tech running the risk of being left in the dust[1].
Think you can trump the AI trend? Think again! Companies that refuse to adapt may face fierce competition, losing ground in their respective markets due to delayed product updates, narrower offerings, and weaker market positioning[1]. Tough call, huh?
Don't be one of them! Nearly six out of every ten CEOs have prioritized AI deployment, underlining the crucial role this tech is set to play in the business world[1].
Besides AI, another key challenge highlighted in the report is the dearth of skilled talent[1]. On a global scale, a talent shortage is looming as a significant risk for the next 12 months, with an alarming 44% of businesses citing a lack of internal capacity for large-scale digital projects[1]. To combat this, companies are increasingly outsourcing projects to external IT service providers, who can help fill those skill gaps and propel businesses towards a brighter future[1].
Now that we've weathered the pandemic storm, businesses are forging ahead with digital scale-up[1]. That means scaling technology, operations, and data management to meet the ever-evolving demands of the digital economy[1]. The focus is on harnessing data to deliver personalized experiences and drive continuous innovation, as the value of data dwindles quickly, often within days[1].
So, what does the future hold? The next era of digital transformation is shaped by the concept of "AI Everywhere," with AI becoming a cornerstone of every business function[1]. Organizations will need to invest in intelligence architectures, data-centric platforms, and cost-effective digital infrastructure for AI workloads, all while attracting and reskilling top talent and ensuring regulatory compliance to secure stakeholder trust[1].
As businesses continue to evolve, it's crucial to align digital strategies with market dynamics. In the AI-driven future, digital leaders that embrace AI, data, and modern infrastructure will surge ahead, pioneering the next wave of digital innovation[1].
About Endava
For Endava, people are the heart of it all[3]. With close to 25 years under our belt, we've been leveraging cutting-edge tech to make real, meaningful change—not just for our clients, but for their customers and the communities we serve[3].
We've got the goods when it comes to consulting and partnering with leading brands across various industries, from finance to retail and healthcare[3]. From sketching out strategies to creating bespoke tech solutions, we got your back—no matter your industry, region, or scale[3]. Our secret weapon? A grade-A team of agile, multidisciplinary whizzes who guide our clients through their digital transformation journeys, building dynamic platforms and intelligent digital experiences that drive growth[3].
Ready to take your business to the next level? Check us out at www.endava.com. And remember, the digital revolution is on!
*This article is a press release.
Insights:
- Endava is working with partnering companies to build strategies, products, and solutions tailored to their unique needs.
- AI and machine learning are key drivers of efficiency improvements and innovation in the digital transformation journey.
- The US IT services sector is projected to generate $550.3 billion in revenue by 2025.
- Aligning digital strategies with market dynamics will be crucial in the AI-driven future to remain competitive.
- Endava, pioneering digital services on the NYSE, is integrating cutting-edge technology, particularly artificial-intelligence, to help businesses transform and modernize their digital infrastructure, resulting in increased scalability and affordability.
- As companies move towards becoming full-blown tech innovators, AI technology, like that offered by Endava, is underscoring a significant factor in driving this evolution and will likely revolutionize automation and intelligence use cases, ushering in a new era of innovation.
- The talent shortage for skilled professionals in AI and digital services is a key challenge for businesses, prompting many to outsource projects to external IT service providers like Endava, to fill those skill gaps and propel their digital transformation projects forward.
