Regional Insights View the detailed results of our global survey by country and region. Reach out to your Protiviti contact for more detailed insights or contact us. View infographic - APAC results View infographic - Australia results View infographic - Hong Kong results View infographic - Singapore results Home Key findings Executive summary View infographic Call to action Join our webinar Industry Insights Regional Insights CFO’s Perspective Does your company have clearly defined innovation goals? North America Europe APAC Yes 78% 79% 79% No 22% 21% 21% I don't know 0% 0% 0% US Canada Yes 81% 69% No 19% 31% I don't know 0% 0% UK Germany Italy France Netherlands Yes 76% 82% 78% 78% 82% No 24% 18% 22% 22% 18% I don't know 0% 0% 0% 0% 0% Australia India Singapore Japan China Hong Kong UAE Yes 76% 76% 78% 90% 84% 72% 80% No 24% 24% 22% 10% 16% 28% 20% 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? North America Europe APAC We have a clear innovation strategy 54% 56% 53% We are currently developing an innovation strategy 40% 38% 43% We have no plans to create an innovation strategy 6% 6% 4% US Canada We have a clear innovation strategy 55% 49% We are currently developing an innovation strategy 40% 40% We have no plans to create an innovation strategy 5% 11% UK Germany Italy France Netherlands We have a clear innovation strategy 58% 58% 56% 58% 50% We are currently developing an innovation strategy 36% 32% 40% 38% 48% We have no plans to create an innovation strategy 6% 10% 4% 4% 2% Australia India Singapore Japan China Hong Kong UAE We have a clear innovation strategy 42% 58% 56% 48% 58% 54% 58% We are currently developing an innovation strategy 50% 38% 40% 48% 40% 42% 40% We have no plans to create an innovation strategy 8% 4% 4% 4% 2% 4% 2% What percentage of your company's current innovation activity is focused on each of the following areas? Shown: Mean scores North America Europe APAC Optimisation (of current systems, products, processes etc.) 42% 42% 41% Building Resilience (against disruption) 30% 28% 28% Growth (new markets, revenue, etc.) 28% 30% 31% Other 0% 0% 1% US Canada Optimisation (of current systems, products, processes etc.) 42% 43% Building Resilience (against disruption) 30% 30% Growth (new markets, revenue, etc.) 28% 27% Other 0% 0% UK Germany Italy France Netherlands Optimisation (of current systems, products, processes etc.) 42% 39% 44% 40% 46% Building Resilience (against disruption) 29% 30% 26% 28% 26% Growth (new markets, revenue, etc.) 29% 32% 31% 32% 28% Other 0% 0% 0% 0% 0% Australia India Singapore Japan China Hong Kong UAE Optimisation (of current systems, products, processes etc.) 41% 40% 41% 40% 40% 42% 42% Building Resilience (against disruption) 31% 23% 29% 30% 30% 26% 26% Growth (new markets, revenue, etc.) 28% 33% 31% 30% 30% 32% 31% Other 0% 3% 0% 0% 0% 0% 0% Does your company have a dedicated lab or think tank that focuses on innovation? North America Europe APAC Yes 56% 59% 58% No 44% 41% 42% I don't know 0% 0% 0% US Canada Yes 60% 44% No 40% 56% I don't know 0% 0% UK Germany Italy France Netherlands Yes 53% 66% 62% 64% 54% No 47% 34% 38% 36% 46% I don't know 0% 0% 0% 0% 0% Australia India Singapore Japan China Hong Kong UAE Yes 56% 46% 58% 78% 62% 50% 64% No 44% 54% 42% 22% 38% 50% 36% 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 North America Europe APAC Architectural constraints (including technical debt) 8% 7% 8% Board/executive buy-in 5% 2% 5% Culture (collaboration, curiosity, exploration) 6% 10% 6% Justifying investment in innovation 10% 9% 11% Lack of diversity of perspective 10% 8% 9% Lack of governance and infrastructure 9% 10% 11% Operational challenges (for example, prioritising "business as usual" over innovation) 6% 9% 9% Organisational structure (teams, processes) 7% 7% 8% Regulatory and compliance requirements 15% 17% 15% Security risks 15% 13% 13% Talent (upskilling, staff retention, resource capacity) 9% 8% 5% US Canada Architectural constraints (including technical debt) 9% 5% Board/executive buy-in 5% 6% Culture (collaboration, curiosity, exploration) 6% 7% Justifying investment in innovation 10% 11% Lack of diversity of perspective 11% 9% Lack of governance and infrastructure 8% 12% Operational challenges (for example, prioritising "business as usual" over innovation) 5% 7% Organisational structure (teams, processes) 8% 4% Regulatory and compliance requirements 15% 15% Security risks 13% 18% Talent (upskilling, staff retention, resource capacity) 10% 6% UK Germany Italy France Netherlands Architectural constraints (including technical debt) 10% 6% 6% 4% 6% Board/executive buy-in 1% 2% 4% 0% 0% Culture (collaboration, curiosity, exploration) 7% 11% 16% 10% 12% Justifying investment in innovation 8% 8% 8% 12% 10% Lack of diversity of perspective 6% 8% 2% 8% 19% Lack of governance and infrastructure 9% 13% 6% 15% 6% Operational challenges (for example, prioritising "business as usual" over innovation) 13% 4% 6% 8% 10% Organisational structure (teams, processes) 6% 14% 8% 0% 4% Regulatory and compliance requirements 23% 8% 24% 10% 19% Security risks 11% 13% 12% 23% 8% Talent (upskilling, staff retention, resource capacity) 6% 13% 8% 10% 6% Australia India Singapore Japan China Hong Kong UAE Architectural constraints (including technical debt) 14% 6% 2% 6% 4% 15% 8% Board/executive buy-in 2% 0% 8% 4% 8% 6% 12% Culture (collaboration, curiosity, exploration) 2% 11% 4% 8% 6% 4% 6% Justifying investment in innovation 18% 6% 12% 12% 10% 8% 16% Lack of diversity of perspective 8% 9% 10% 8% 14% 8% 4% Lack of governance and infrastructure 20% 8% 14% 6% 12% 6% 8% Operational challenges (for example, prioritising "business as usual" over innovation) 0% 14% 12% 8% 14% 8% 10% Organisational structure (teams, processes) 8% 8% 12% 4% 6% 10% 10% Regulatory and compliance requirements 18% 11% 8% 21% 6% 25% 16% Security risks 8% 16% 10% 17% 14% 10% 6% Talent (upskilling, staff retention, resource capacity) 2% 11% 8% 6% 6% 0% 4% Who is the key person responsible for driving innovation at your company? North America Europe APAC Chief Executive Officer or equivalent 5% 4% 3% Chief Information Officer or equivalent 9% 12% 9% Chief Innovation/Strategy officer of equivalent 45% 47% 51% Chief Operations Officer or equivalent 5% 6% 7% Chief Product Officer or equivalent 5% 3% 3% Chief Technology Officer or equivalent 31% 28% 27% Other 0% 0% 0% There is no-one driving innovation at my company 0% 0% 0% US Canada Chief Executive Officer or equivalent 6% 4% Chief Information Officer or equivalent 10% 6% Chief Innovation/Strategy officer of equivalent 45% 44% Chief Operations Officer or equivalent 4% 8% Chief Product Officer or equivalent 4% 7% Chief Technology Officer or equivalent 31% 31% Other 0% 0% There is no-one driving innovation at my company 0% 0% UK Germany Italy France Netherlands Chief Executive Officer or equivalent 1% 6% 4% 2% 8% Chief Information Officer or equivalent 17% 6% 10% 12% 12% Chief Innovation/Strategy officer of equivalent 33% 48% 62% 54% 52% Chief Operations Officer or equivalent 9% 6% 4% 2% 6% Chief Product Officer or equivalent 4% 4% 2% 0% 4% Chief Technology Officer or equivalent 35% 30% 18% 30% 18% Other 1% 0% 0% 0% 0% There is no-one driving innovation at my company 0% 0% 0% 0% 0% Australia India Singapore Japan China Hong Kong UAE Chief Executive Officer or equivalent 2% 8% 2% 2% 2% 0% 10% Chief Information Officer or equivalent 14% 4% 16% 10% 8% 6% 12% Chief Innovation/Strategy officer of equivalent 46% 42% 52% 50% 56% 60% 36% Chief Operations Officer or equivalent 6% 12% 4% 6% 6% 6% 6% Chief Product Officer or equivalent 10% 0% 0% 2% 4% 0% 2% Chief Technology Officer or equivalent 22% 32% 26% 30% 24% 28% 34% Other 0% 2% 0% 0% 0% 0% 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. North America Europe APAC 5G 42% 46% 60% Artificial intelligence/machine learning 52% 55% 52% Augmented reality and/or virtual reality 27% 30% 32% Blockchain 46% 41% 42% Cloud 76% 72% 74% Edge computing 49% 48% 42% Internet of Things 70% 65% 75% Metaverse 9% 7% 8% No code/Low code 42% 35% 25% Quantum computing 24% 24% 16% Robotics 23% 26% 25% Web 3 24% 19% 28% US Canada 5G 57% 35% Artificial intelligence/machine learning 42% 44% Augmented reality and/or virtual reality 22% 41% Blockchain 46% 47% Cloud 77% 74% Edge computing 51% 45% Internet of Things 74% 60% Metaverse 10% 8% No code/Low code 42% 40% Quantum computing 25% 22% Robotics 23% 25% Web 3 24% 23% UK Germany Italy France Netherlands 5G 63% 58% 60% 50% 34% Artificial intelligence/machine learning 39% 34% 52% 60% 54% Augmented reality and/or virtual reality 11% 28% 52% 34% 44% Blockchain 32% 44% 48% 44% 44% Cloud 67% 60% 78% 84% 80% Edge computing 40% 54% 44% 50% 58% Internet of Things 57% 64% 72% 72% 70% Metaverse 7% 12% 2% 10% 2% No code/Low code 33% 46% 20% 34% 42% Quantum computing 19% 32% 18% 28% 26% Robotics 32% 26% 26% 28% 8% Web 3 16% 22% 22% 24% 16% Australia India Singapore Japan China Hong Kong UAE 5G 64% 30% 50% 58% 56% 52% 54% Artificial intelligence/machine learning 44% 62% 62% 66% 68% 58% 58% Augmented reality and/or virtual reality 18% 52% 30% 30% 20% 40% 20% Blockchain 28% 50% 38% 44% 44% 48% 46% Cloud 72% 86% 78% 64% 80% 66% 72% Edge computing 44% 52% 32% 48% 42% 34% 30% Internet of Things 72% 72% 70% 82% 72% 80% 74% Metaverse 2% 8% 2% 14% 16% 4% 4% No code/Low code 14% 22% 30% 22% 28% 34% 22% Quantum computing 16% 16% 16% 18% 24% 8% 18% Robotics 22% 24% 28% 26% 24% 26% 26% Web 3 30% 28% 22% 32% 30% 26% 28% How concerned are you about the security risks (for example, breaches, data loss, improper controls, poor access management) associated with implementing innovative new technologies? North America Europe APAC 5 (Very concerned) 38% 39% 53% 4 47% 38% 30% 3 (Moderately concerned) 15% 23% 16% 2 0% 0% 1% 1 (Not at all concerned) 0% 0% 0% US Canada 5 (Very concerned) 35% 44% 4 50% 38% 3 (Moderately concerned) 14% 18% 2 1% 0% 1 (Not at all concerned) 0% 0% UK Germany Italy France Netherlands 5 (Very concerned) 30% 24% 60% 38% 50% 4 43% 52% 16% 48% 30% 3 (Moderately concerned) 27% 24% 24% 14% 20% 2 0% 0% 0% 0% 0% 1 (Not at all concerned) 0% 0% 0% 0% 0% Australia India Singapore Japan China Hong Kong UAE 5 (Very concerned) 42% 64% 62% 44% 48% 56% 50% 4 36% 12% 24% 42% 36% 28% 32% 3 (Moderately concerned) 20% 22% 14% 14% 12% 16% 18% 2 2% 0% 0% 0% 4% 0% 0% 1 (Not at all concerned) 0% 2% 0% 0% 0% 0% 0% Which of the following areas do you consider the MOST important for maintaining an innovative organisation? North America Europe APAC Building the right processes and activities 21% 22% 26% Enabling an agile technology environment 31% 20% 23% Fostering an innovative culture 36% 40% 33% Hiring the right talent (different roles and specialisms) 11% 17% 18% None of the above 1% 1% 0% US Canada Building the right processes and activities 19% 27% Enabling an agile technology environment 33% 24% Fostering an innovative culture 37% 33% Hiring the right talent (different roles and specialisms) 10% 16% None of the above 1% 0% UK Germany Italy France Netherlands Building the right processes and activities 23% 20% 22% 16% 28% Enabling an agile technology environment 17% 24% 26% 26% 10% Fostering an innovative culture 44% 48% 26% 42% 36% Hiring the right talent (different roles and specialisms) 15% 6% 26% 14% 26% None of the above 1% 2% 0% 2% 0% Australia India Singapore Japan China Hong Kong UAE Building the right processes and activities 18% 26% 34% 24% 26% 28% 32% Enabling an agile technology environment 30% 22% 22% 18% 20% 24% 24% Fostering an innovative culture 46% 30% 28% 32% 30% 30% 20% Hiring the right talent (different roles and specialisms) 6% 22% 16% 24% 24% 18% 22% None of the above 0% 0% 0% 2% 0% 0% 2% What skills-related gaps, if any, impede innovation at your company? Multiple responses permitted. North America Europe APAC Collaboration 20% 17% 18% Communication and organisation change enablement 24% 24% 24% Design thinking 38% 37% 34% Enterprise agility 36% 36% 34% Lack of training 18% 20% 19% Leadership 11% 12% 17% Project management 20% 21% 24% Solution architecture 37% 38% 36% Strategic thinking 27% 28% 32% Technical knowledge 33% 30% 29% Other 0% 0% 0% None 1% 2% 1% US Canada Collaboration 20% 18% Communication and organisation change enablement 25% 18% Design thinking 38% 39% Enterprise agility 34% 39% Lack of training 19% 17% Leadership 11% 12% Project management 19% 24% Solution architecture 36% 41% Strategic thinking 28% 22% Technical knowledge 34% 32% Other 0% 0% None 1% 0% UK Germany Italy France Netherlands Collaboration 18% 12% 24% 12% 20% Communication and organisation change enablement 29% 24% 16% 28% 16% Design thinking 43% 36% 44% 30% 26% Enterprise agility 35% 28% 40% 40% 36% Lack of training 24% 18% 32% 6% 18% Leadership 10% 12% 14% 14% 12% Project management 25% 18% 18% 18% 20% Solution architecture 45% 36% 34% 44% 26% Strategic thinking 27% 40% 22% 20% 34% Technical knowledge 36% 34% 26% 32% 16% Other 0% 0% 0% 2% 0% None 3% 2% 4% 2% 0% Australia India Singapore Japan China Hong Kong UAE Collaboration 14% 12% 24% 16% 16% 28% 22% Communication and organisation change enablement 22% 30% 30% 20% 26% 14% 16% Design thinking 38% 32% 24% 38% 32% 40% 42% Enterprise agility 34% 40% 38% 24% 26% 42% 32% Lack of training 24% 18% 20% 14% 18% 18% 24% Leadership 8% 24% 12% 18% 20% 18% 16% Project management 24% 12% 26% 30% 28% 22% 16% Solution architecture 36% 28% 34% 46% 46% 28% 38% Strategic thinking 30% 30% 20% 36% 42% 34% 40% Technical knowledge 28% 26% 24% 40% 32% 22% 30% Other 0% 0% 0% 0% 0% 0% 0% None 0% 4% 0% 0% 4% 0% 2% 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. North America Europe APAC Agile 64% 68% 63% Design thinking 56% 57% 56% Hackathons 43% 37% 34% Journey mapping 54% 49% 53% Lean start-up method 31% 38% 39% US Canada Agile 65% 60% Design thinking 56% 58% Hackathons 43% 44% Journey mapping 53% 57% Lean start-up method 30% 35% UK Germany Italy France Netherlands Agile 65% 68% 74% 72% 62% Design thinking 59% 56% 54% 62% 52% Hackathons 40% 44% 28% 36% 38% Journey mapping 50% 50% 54% 46% 46% Lean start-up method 35% 34% 36% 48% 38% Australia India Singapore Japan China Hong Kong UAE Agile 62% 66% 60% 70% 66% 56% 74% Design thinking 46% 62% 52% 64% 62% 52% 70% Hackathons 42% 48% 38% 18% 26% 36% 38% Journey mapping 44% 56% 56% 58% 46% 60% 36% Lean start-up method 38% 46% 36% 44% 28% 42% 36% How well do innovation leaders bridge the gap between technology and business needs at your company? North America Europe APAC 5 Very well 28% 31% 30% 4 Somewhat well 59% 55% 54% 3 Neutral 13% 13% 16% 2 Somewhat poorly 0% 1% 0% 1 Very poorly 0% 0% 0% US Canada 5 Very well 30% 21% 4 Somewhat well 57% 64% 3 Neutral 13% 15% 2 Somewhat poorly 0% 0% 1 Very poorly 0% 0% UK Germany Italy France Netherlands 5 Very well 29% 40% 22% 38% 30% 4 Somewhat well 58% 50% 60% 50% 52% 3 Neutral 12% 8% 14% 12% 18% 2 Somewhat poorly 1% 2% 4% 0% 0% 1 Very poorly 0% 0% 0% 0% 0% Australia India Singapore Japan China Hong Kong UAE 5 Very well 28% 26% 38% 30% 34% 26% 24% 4 Somewhat well 56% 52% 48% 64% 46% 56% 72% 3 Neutral 16% 20% 14% 6% 20% 18% 4% 2 Somewhat poorly 0% 2% 0% 0% 0% 0% 0% 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). North America Europe APAC Educating non-technical board members on the benefits of investing in innovation 58% 57% 62% Governance, risk and compliance 81% 76% 70% Innovation culture 64% 67% 69% Innovation processes 70% 67% 67% Innovation strategy 81% 78% 83% Knowledge sharing 80% 74% 83% Strategic leadership 83% 80% 76% Talent upskilling and retention 68% 68% 71% Transformational change 74% 71% 71% US Canada Educating non-technical board members on the benefits of investing in innovation 56% 64% Governance, risk and compliance 82% 76% Innovation culture 64% 66% Innovation processes 69% 73% Innovation strategy 81% 79% Knowledge sharing 80% 80% Strategic leadership 83% 81% Talent upskilling and retention 70% 62% Transformational change 76% 70% UK Germany Italy France Netherlands Educating non-technical board members on the benefits of investing in innovation 52% 70% 56% 54% 56% Governance, risk and compliance 77% 78% 68% 66% 90% Innovation culture 69% 64% 66% 68% 66% Innovation processes 67% 78% 64% 68% 58% Innovation strategy 80% 82% 68% 80% 78% Knowledge sharing 74% 84% 68% 76% 66% Strategic leadership 83% 76% 80% 84% 72% Talent upskilling and retention 73% 74% 62% 70% 54% Transformational change 65% 82% 64% 72% 78% Australia India Singapore Japan China Hong Kong UAE Educating non-technical board members on the benefits of investing in innovation 58% 60% 72% 58% 66% 56% 64% Governance, risk and compliance 66% 68% 78% 66% 70% 74% 68% Innovation culture 66% 68% 64% 74% 76% 66% 70% Innovation processes 70% 64% 62% 74% 70% 64% 74% Innovation strategy 80% 88% 84% 80% 82% 82% 78% Knowledge sharing 76% 82% 82% 94% 80% 86% 80% Strategic leadership 82% 60% 76% 86% 74% 80% 66% Talent upskilling and retention 82% 62% 68% 74% 70% 68% 68% Transformational change 70% 74% 72% 74% 68% 68% 68% What impact is technical debt having on your ability to innovate? North America Europe APAC 5 Significant impact 19% 19% 25% 4 50% 51% 44% 3 Moderate Impact 29% 28% 29% 2 1% 2% 1% 1 No impact 1% 0% 1% US Canada 5 Significant impact 23% 7% 4 49% 54% 3 Moderate Impact 26% 38% 2 1% 1% 1 No impact 1% 0% UK Germany Italy France Netherlands 5 Significant impact 17% 16% 20% 24% 20% 4 60% 58% 40% 48% 40% 3 Moderate Impact 23% 26% 36% 26% 36% 2 0% 0% 4% 2% 4% 1 No impact 0% 0% 0% 0% 0% Australia India Singapore Japan China Hong Kong UAE 5 Significant impact 24% 28% 30% 18% 28% 24% 26% 4 50% 28% 40% 60% 46% 40% 40% 3 Moderate Impact 26% 38% 30% 20% 24% 36% 34% 2 0% 2% 0% 2% 2% 0% 0% 1 No impact 0% 4% 0% 0% 0% 0% 0% What percentage of the resources below would you estimate is dedicated to resolving technical debt? Shown: Mean scores North America Europe APAC IT budget ($) 32% 34% 29% IT effort (human resource) 20% 19% 24% US Canada IT budget ($) 32% 31% IT effort (human resource) 19% 23% UK Germany Italy France Netherlands IT budget ($) 38% 39% 27% 30% 29% IT effort (human resource) 14% 19% 27% 20% 21% Australia India Singapore Japan China Hong Kong UAE IT budget ($) 31% 29% 27% 28% 32% 25% 32% IT effort (human resource) 17% 38% 21% 23% 21% 23% 25% What are the top three strategies that your company prioritises when dealing with technical debt? Shown: Ranked #1 North America Europe APAC Appointing a technology leader as responsible and accountable for technical debt solutions 10% 7% 10% Educating teams on technical debt and how to report it 13% 13% 13% Formulating and following guidelines to managing technical debt 12% 9% 9% Having a knowledge base to provide information even when specific employees have left the team or business 11% 14% 12% Having a process in place to track and report technical debt 11% 13% 11% Incorporating technical debt management into innovation strategies 9% 12% 10% Revamping software, hardware and systems where technical debt occurs (e.g., refactoring code, etc) 11% 9% 10% Tracking software, hardware and systems where technical debt occurs 11% 11% 14% Tracking technical debt in new systems 12% 12% 11% Other strategies 0% 0% 0% US Canada Appointing a technology leader as responsible and accountable for technical debt solutions 9% 10% Educating teams on technical debt and how to report it 13% 14% Formulating and following guidelines to managing technical debt 10% 15% Having a knowledge base to provide information even when specific employees have left the team or business 12% 9% Having a process in place to track and report technical debt 13% 9% Incorporating technical debt management into innovation strategies 10% 7% Revamping software, hardware and systems where technical debt occurs (e.g., refactoring code, etc) 12% 7% Tracking software, hardware and systems where technical debt occurs 11% 11% Tracking technical debt in new systems 10% 18% Other strategies 0% 0% UK Germany Italy France Netherlands Appointing a technology leader as responsible and accountable for technical debt solutions 10% 2% 8% 6% 4% Educating teams on technical debt and how to report it 13% 14% 16% 14% 8% Formulating and following guidelines to managing technical debt 8% 6% 10% 10% 12% Having a knowledge base to provide information even when specific employees have left the team or business 16% 16% 10% 18% 8% Having a process in place to track and report technical debt 15% 14% 12% 10% 16% Incorporating technical debt management into innovation strategies 8% 22% 18% 4% 10% Revamping software, hardware and systems where technical debt occurs (e.g., refactoring code, etc) 5% 16% 4% 18% 8% Tracking software, hardware and systems where technical debt occurs 10% 6% 14% 4% 20% Tracking technical debt in new systems 15% 4% 8% 16% 14% Other strategies 0% 0% 0% 0% 0% Australia India Singapore Japan China Hong Kong UAE Appointing a technology leader as responsible and accountable for technical debt solutions 8% 12% 12% 8% 10% 12% 12% Educating teams on technical debt and how to report it 12% 8% 10% 18% 10% 18% 10% Formulating and following guidelines to managing technical debt 17% 10% 14% 4% 6% 4% 12% Having a knowledge base to provide information even when specific employees have left the team or business 19% 6% 4% 14% 12% 18% 4% Having a process in place to track and report technical debt 12% 22% 6% 10% 12% 4% 16% Incorporating technical debt management into innovation strategies 6% 8% 16% 6% 8% 14% 4% Revamping software, hardware and systems where technical debt occurs (e.g., refactoring code, etc) 10% 4% 8% 16% 14% 6% 8% Tracking software, hardware and systems where technical debt occurs 8% 20% 20% 10% 10% 16% 22% Tracking technical debt in new systems 8% 10% 10% 14% 18% 8% 12% 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. North America Europe APAC 5G 48% 49% 47% Artificial intelligence/machine learning 34% 37% 44% Augmented reality and/or virtual reality 15% 19% 12% Blockchain 28% 26% 23% Cloud 65% 65% 67% Edge computing 36% 35% 27% Internet of Things 64% 58% 66% Low code/no code 18% 18% 16% Metaverse 4% 4% 3% Quantum computing 18% 18% 15% Robotics 12% 12% 18% Web 3 13% 9% 12% US Canada 5G 53% 33% Artificial intelligence/machine learning 35% 32% Augmented reality and/or virtual reality 13% 20% Blockchain 29% 27% Cloud 65% 65% Edge computing 37% 33% Internet of Things 68% 53% Low code/no code 18% 19% Metaverse 5% 3% Quantum computing 18% 18% Robotics 12% 11% Web 14% 8% UK Germany Italy France Netherlands 5G 61% 52% 48% 40% 30% Artificial intelligence/machine learning 34% 30% 44% 46% 32% Augmented reality and/or virtual reality 8% 20% 18% 26% 34% Blockchain 20% 32% 32% 26% 30% Cloud 64% 56% 60% 74% 72% Edge computing 31% 40% 26% 44% 36% Internet of Things 54% 56% 58% 64% 62% Low code/no code 10% 18% 16% 18% 38% Metaverse 4% 2% 6% 4% 2% Quantum computing 11% 26% 14% 30% 20% Robotics 12% 14% 12% 16% 6% Web 3 12% 14% 4% 6% 8% Australia India Singapore Japan China Hong Kong UAE 5G 56% 30% 44% 52% 50% 50% 44% Artificial intelligence/machine learning 38% 38% 52% 46% 46% 42% 56% Augmented reality and/or virtual reality 4% 28% 10% 10% 8% 12% 0% Blockchain 20% 30% 24% 20% 20% 26% 28% Cloud 64% 80% 66% 58% 74% 60% 60% Edge computing 30% 28% 30% 24% 28% 20% 24% Internet of Things 64% 62% 66% 66% 68% 70% 64% Low code/no code 8% 22% 20% 10% 18% 20% 14% Metaverse 4% 6% 2% 0% 2% 4% 2% Quantum computing 18% 16% 12% 18% 18% 8% 14% Robotics 14% 26% 18% 16% 12% 20% 14% Web 3 10% 10% 12% 8% 16% 16% 10% If an economic recession happens, how do you anticipate your technology innovation strategy/investments will change? North America Europe APAC We expect to advance our technology innovation strategy/investments 36% 34% 27% We expect to cut back on our technology innovation strategy/investments 46% 44% 53% We anticipate no changes to our technology innovation strategy/investments 18% 21% 20% I don't know 0% 1% 0% US Canada We expect to advance our technology innovation strategy/investments 37% 30% We expect to cut back on our technology innovation strategy/investments 46% 48% We anticipate no changes to our technology innovation strategy/investments 17% 22% I don't know 0% 0% UK Germany Italy France Netherlands We expect to advance our technology innovation strategy/investments 42% 38% 26% 38% 18% We expect to cut back on our technology innovation strategy/investments 32% 42% 62% 42% 56% We anticipate no changes to our technology innovation strategy/investments 26% 20% 10% 20% 26% I don't know 0% 0% 2% 0% 0% Australia India Singapore Japan China Hong Kong UAE We expect to advance our technology innovation strategy/investments 34% 18% 24% 22% 42% 20% 30% We expect to cut back on our technology innovation strategy/investments 46% 52% 54% 60% 44% 60% 48% We anticipate no changes to our technology innovation strategy/investments 20% 28% 22% 18% 14% 20% 22% I don't know 0% 2% 0% 0% 0% 0% 0% North America Europe APAC Sample Size 400 respondents 300 respondents 300 respondents Industry North America Europe APAC Financial Services: (Net) 17% 20% 11% Financial Services - Asset & Wealth Management 4% 4% 2% Financial Services - Banking & Capital Markets 4% 5% 3% Financial Services - Mortgage & Consumer Lending 3% 2% 2% Financial Services - Payments 3% 3% 1% Financial Services - Private Equity 1% 4% 1% Financial Services - Other - - - Insurance (other than Healthcare Payer) 2% 2% 2% Technology, Media, Telecommunications: (Net) 13% 13% 20% Technology (Software/High-Tech/Electronics) 3% 4% 8% Media and Entertainment 5% 5% 6% Telecommunications and Data Infrastructure 5% 4% 6% Consumer Products & Services: (Net) 12% 21% 14% Consumer Packaged Goods 7% 10% 6% Retail 5% 11% 8% Healthcare: (Net) 16% 10% 18% Healthcare - Integrated Delivery Systems (Provider & Payer) 6% 7% 4% Healthcare Payer/Insurance 7% 2% 6% Healthcare Provider/Services 3% 1% 8% Manufacturing & Distribution: (Net) 11% 20% 16% Automotive 1% 4% 2% Biotechnology/Medical Devices 2% 1% 3% Chemicals and Materials 2% 2% - Manufacturing (other than Technology) 1% 4% 4% Pharmaceuticals and Life Sciences 1% 4% 1% Transportation and Logistics 3% 3% 2% Warehousing/Distribution 1% 2% 4% Energy & Utilities: (Net) 10% 10% 15% Mining 2% 2% 4% Oil and Gas 3% 2% 3% Power and Utilities 3% 2% 5% Renewables 2% 4% 3% Public Sector (National Gov. only): (Net) 21% 6% 6% Government 21% 6% 6% Size (Revenue in USD) North America Europe APAC Less than $25 million - - - $25 million - $99.99 million - - - $100 million - $499.99 million - - - $500 million - $999.99 million 13% 25% 30% $1 billion - $4.99 billion 31% 29% 18% $5 billion - $9.99 billion 26% 21% 23% $10 billion or more 30% 25% 29% Size (Assets Under Management in USD) North America Europe APAC 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) 23% 29% 33% $10 billion - $24.99 billion (17.50) 17% 29% 22% $25 billion - $49.99 billion (37.50) 21% 17% 26% $50 billion or more (62.50) 39% 25% 19% Ownership Type North America Europe APAC Publicly held, for profit entity 48% 48% 56% Privately held, for profit entity - preparing to become publicly held 8% 14% 12% Privately held, for profit entity - no current plans to become publicly held 20% 32% 26% Government agency 21% 6% 6% Non-profit organisation 3% - - Company Headquarters North America Europe APAC Australia - - 16% Canada 25% - - China - - 17% France - 17% - Germany - 17% - Hong Kong - - 16% India - - 17% Italy - 17% - Japan - - 17% Netherlands - 17% - Singapore - - 17% United Kingdom - 32% - United States 75% - - Job Title North America Europe APAC Chief Information Officer 12% 19% 20% Chief Information Security Officer 14% 22% 8% Chief Technology Officer 11% 18% 23% Director of Information Technology 25% 21% 20% Senior Vice President of Information Technology 17% 9% 15% Vice President of Information Technology 21% 11% 14% US Canada Sample Size 300 respondents 100 respondents Industry US Canada Financial Services: (Net) 14% 23% Financial Services - Asset & Wealth Management 2% 9% Financial Services - Banking & Capital Markets 3% 6% Financial Services - Mortgage & Consumer Lending 4% - Financial Services - Payments 3% 1% Financial Services - Private Equity 2% 1% Financial Services - Other - - Insurance (other than Healthcare Payer) - 6% Technology, Media, Telecommunications: (Net) 13% 15% Technology (Software/High-Tech/Electronics) 4% 3% Media and Entertainment 4% 6% Telecommunications and Data Infrastructure 5% 6% Consumer Products & Services: (Net) 14% 9% Consumer Packaged Goods 8% 5% Retail 6% 4% Healthcare: (Net) 19% 10% Healthcare - Integrated Delivery Systems (Provider & Payer) 6% 6% Healthcare Payer/Insurance 9% 1% Healthcare Provider/Services 4% 3% Manufacturing & Distribution: (Net) 11% 7% Automotive 1% 1% Biotechnology/Medical Devices 2% - Chemicals and Materials 2% 3% Manufacturing (other than Technology) 1% - Pharmaceuticals and Life Sciences 1% - Transportation and Logistics 3% 2% Warehousing/Distribution 1% 1% Energy & Utilities: (Net) 5% 24% Mining 1% 7% Oil and Gas 1% 8% Power and Utilities 2% 4% Renewables 1% 5% Public Sector (National Gov. only): (Net) 24% 12% Government 24% 12% Size (Revenue in USD) US Canada Less than $25 million - - $25 million - $99.99 million - - $100 million - $499.99 million - - $500 million - $999.99 million 10% 20% $1 billion - $4.99 billion 31% 33% $5 billion - $9.99 billion 27% 24% $10 billion or more 32% 23% Size (Assets Under Management in USD) US Canada 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% 12% $10 billion - $24.99 billion (17.50) 20% 12% $25 billion - $49.99 billion (37.50) 18% 29% $50 billion or more (62.50) 35% 47% Ownership Type US Canada Publicly held, for profit entity 46% 52% Privately held, for profit entity - preparing to become publicly held 8% 9% Privately held, for profit entity - no current plans to become publicly held 18% 25% Government agency 24% 13% Non-profit organisation 4% 1% Company Headquarters US Canada Canada - 100% United States 100% - Job Title US Canada Chief Information Officer 10% 18% Chief Information Security Officer 14% 18% Chief Technology Officer 12% 8% Director of Information Technology 27% 20% Senior Vice President of Information Technology 16% 17% Vice President of Information Technology 21% 19% UK Germany Italy France Netherlands Sample Size 100 respondents 50 respondents 50 respondents 50 respondents 50 respondents Industry UK Germany Italy France Netherlands Financial Services: (Net) 27% 12% 16% 24% 12% Financial Services - Asset & Wealth Management 3% 4% - 8% 4% Financial Services - Banking & Capital Markets 6% 8% 6% 2% 4% Financial Services - Mortgage & Consumer Lending 1% - 6% - 2% Financial Services - Payments 4% - 2% 6% - Financial Services - Private Equity 9% - 2% 4% - Financial Services - Other - - - - - Insurance (other than Healthcare Payer) 4% - - 4% 2% Technology, Media, Telecommunications: (Net) 19% 8% 14% 12% 8% Technology (Software/High-Tech/Electronics) 3% 4% 4% 6% 4% Media and Entertainment 12% 2% 4% 2% - Telecommunications and Data Infrastructure 4% 2% 6% 4% 4% Consumer Products & Services: (Net) 19% 22% 16% 20% 30% Consumer Packaged Goods 11% 8% 6% 18% 8% Retail 8% 14% 10% 2% 22% Healthcare: (Net) 4% 10% 16% 6% 18% Healthcare - Integrated Delivery Systems (Provider & Payer) 3% 2% 10% 4% 18% Healthcare Payer/Insurance 1% 6% - 2% - Healthcare Provider/Services - 2% 6% - - Manufacturing & Distribution: (Net) 11% 40% 20% 24% 14% Automotive 3% 10% 2% 8% - Biotechnology/Medical Devices - 4% - 2% - Chemicals and Materials 2% 4% 4% - 2% Manufacturing (other than Technology) 1% 8% 2% 6% 6% Pharmaceuticals and Life Sciences 4% 2% 4% 6% 2% Transportation and Logistics 1% 10% 2% 2% - Warehousing/Distribution - 2% 6% - 4% Energy & Utilities: (Net) 10% 4% 18% 8% 10% Mining 3% - - 2% 4% Oil and Gas 1% - 6% - 4% Power and Utilities 2% - 8% 2% - Renewables 4% 4% 4% 4% 2% Public Sector (National Gov. only): (Net) 10% 4% - 6% 8% Government 10% 4% - 6% 8% Size (Revenue in USD) UK Germany Italy France Netherlands Less than $25 million - - - - - $25 million - $99.99 million - - - - - $100 million - $499.99 million - - - - - $500 million - $999.99 million 20% 11% 43% 22% 33% $1 billion - $4.99 billion 36% 32% 19% 25% 25% $5 billion - $9.99 billion 17% 30% 29% 13% 22% $10 billion or more 27% 27% 9% 40% 20% Size (Assets Under Management in USD) UK Germany Italy France Netherlands 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) 43% 33% - 10% 40% $10 billion - $24.99 billion (17.50) 39% - 50% 20% - $25 billion - $49.99 billion (37.50) 9% 17% 25% 40% - $50 billion or more (62.50) 9% 50% 25% 30% 60% Ownership Type UK Germany Italy France Netherlands Publicly held, for profit entity 50% 50% 48% 54% 34% Privately held, for profit entity - preparing to become publicly held 8% 14% 28% 8% 18% Privately held, for profit entity - no current plans to become publicly held 32% 32% 24% 32% 38% Government agency 10% 4% - 6% 10% Non-profit organisation - - - - - Company Headquarters UK Germany Italy France Netherlands France - - - 100% - Germany - 100% - - - Italy - - 100% - - Netherlands - - - - 100% United Kingdom 100% - - - - Job Title UK Germany Italy France Netherlands Chief Information Officer 14% 24% 22% 28% 14% Chief Information Security Officer 16% 18% 26% 24% 34% Chief Technology Officer 19% 16% 20% 18% 14% Director of Information Technology 33% 20% 6% 16% 16% Senior Vice President of Information Technology 4% 6% 18% 8% 14% Vice President of Information Technology 14% 16% 8% 6% 8% Australia India Singapore Japan China Hong Kong UAE Sample Size 50 respondents 50 respondents 50 respondents 50 respondents 50 respondents 50 respondents 50 respondents Industry Australia India Singapore Japan China Hong Kong UAE Financial Services: (Net) 12% 16% 16% 8% 8% 4% 10% Financial Services - Asset & Wealth Management 2% - 6% 2% - - - Financial Services - Banking & Capital Markets 6% 4% 4% - 4% - 2% Financial Services - Mortgage & Consumer Lending - 6% 2% - 4% 2% 2% Financial Services - Payments 2% - 2% 2% - 2% 4% Financial Services - Private Equity - 2% - 2% - - - Financial Services - Other - - - - - - - Insurance (other than Healthcare Payer) 2% 4% 2% 2% - - 2% Technology, Media, Telecommunications: (Net) 22% 14% 28% 16% 26% 14% 14% Technology (Software/High-Tech/Electronics) 4% 12% 12% - 14% 4% 8% Media and Entertainment 10% 2% 12% 8% - 4% - Telecommunications and Data Infrastructure 8% - 4% 8% 12% 6% 6% Consumer Products & Services: (Net) 8% 4% 6% 26% 20% 22% 8% Consumer Packaged Goods 2% 4% 2% 16% 8% 2% 6% Retail 6% - 4% 10% 12% 20% 2% Healthcare: (Net) 6% 22% 22% 14% 20% 24% 22% Healthcare - Integrated Delivery Systems (Provider & Payer) 6% 8% 2% 4% - 2% 2% Healthcare Payer/Insurance - 6% 4% 2% 12% 12% 6% Healthcare Provider/Services - 8% 16% 8% 8% 10% 14% Manufacturing & Distribution: (Net) 4% 16% 12% 20% 20% 22% 20% Automotive - - 4% 4% 2% - - Biotechnology/Medical Devices 2% - 2% 6% - 6% - Chemicals and Materials - - - - - - 4% Manufacturing (other than Technology) - 8% 2% 6% 10% - 2% Pharmaceuticals and Life Sciences - - - 2% 2% - - Transportation and Logistics 2% 6% - - 2% 4% 6% Warehousing/Distribution - 2% 4% 2% 4% 12% 8% Energy & Utilities: (Net) 26% 24% 8% 14% 6% 14% 18% Mining 10% 2% - 4% - 8% 6% Oil and Gas 8% 8% 2% - - 2% 8% Power and Utilities 6% 14% 6% 2% - - 2% Renewables 2% - - 8% 6% 4% 2% Public Sector (National Gov. only): (Net) 22% 4% 8% 2% - - 8% Government 22% 4% 8% 2% - - 8% Size (Revenue in USD) Australia India Singapore Japan China Hong Kong UAE Less than $25 million - - - - - - - $25 million - $99.99 million - - - - - - - $100 million - $499.99 million - - - - - - - $500 million - $999.99 million 18% 52% 42% 15% 24% 33% 26% $1 billion - $4.99 billion 31% 11% 21% 11% 7% 27% 24% $5 billion - $9.99 billion 33% 21% 19% 36% 15% 13% 33% $10 billion or more 18% 16% 18% 38% 54% 27% 17% Size (Assets Under Management in USD) Australia India Singapore Japan China Hong Kong UAE 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) 60% 50% 14% 33% - 50% 25% $10 billion - $24.99 billion (17.50) - 33% 29% 33% 25% - - $25 billion - $49.99 billion (37.50) - 17% 43% - 50% 50% 75% $50 billion or more (62.50) 40% - 14% 34% 25% - - Ownership Type Australia India Singapore Japan China Hong Kong UAE Publicly held, for profit entity 54% 44% 38% 84% 58% 56% 32% Privately held, for profit entity - preparing to become publicly held 12% 8% 28% 2% 10% 10% 20% Privately held, for profit entity - no current plans to become publicly held 12% 44% 26% 12% 30% 34% 40% Government agency 22% 4% 8% 2% 2% - 8% Non-profit organisation - - - - - - - Company Headquarters Australia India Singapore Japan China Hong Kong UAE Australia 100% - - - - - - China - - - - 100% - - Hong Kong - - - - - 100% - India - 100% - - - - - Japan - - - 100% - - - Singapore - - 100% - - - - UAE - - - - - - 100% Job Title Australia India Singapore Japan China Hong Kong UAE Chief Information Officer 22% 24% 10% 12% 24% 26% 20% Chief Information Security Officer 14% 8% 14% 8% 2% 4% 16% Chief Technology Officer 20% 24% 26% 22% 24% 20% 18% Director of Information Technology 26% 12% 16% 20% 28% 20% 18% Senior Vice President of Information Technology 6% 22% 20% 18% 8% 14% 16% Vice President of Information Technology 12% 10% 14% 20% 14% 16% 12%
