Endava Research unveils investment trends for 13 emerging technologies in enterprises

Endava, a global provider of digital acceleration and agile software development services, has launched a new report titled ‘Emerging Tech Unpacked’. The research sought to understand businesses’ familiarity with 13 pivotal concepts (including AI, Digital Ecosystems, ESG, Web3, Phygital, Digital Twins and Telematics), the level of relevance these have to the organisations’ line of business, and the current state of strategy around adoption and implementation.

The report’s main finding is that, in the face of a difficult global economic climate, businesses are moving away from the hype cycle, which has dominated purchasing choices for the past ten years. Instead, businesses are meticulously evaluating technology according to its applications, agility, and use cases. Given their demonstrated capacity to generate strategic impact, Big Data (75%), Predictive Analytics (72%) and AI-driven Automation (71%) were the three technologies exhibiting the highest rates of adoption.

The report, which involved decision-makers from around 700 organizations, found that scepticism towards over-hyped technologies still exists. Although the Metaverse was identified as one of the most well-known emerging trends, 30% of organizations do not have any plans to integrate it into their operations, and half of those respondents cited irrelevance to their business as the reason. In contrast, there is less scepticism towards Web3, with 27% of those surveyed have already implemented a strategy and 30% in the process of doing so. Building digital ecosystems and microservices are also considered important trends for businesses looking to create strategic frameworks, with 33% of respondents planning to incorporate these services in some way. This report highlights the importance of businesses staying up-to-date with emerging technologies while also being strategic in their approach to adopting them.

Speaking on the research, Endava CEO John Cotterell said “By now, everyone is aware of the global economic forecast, but what’s interesting is how different businesses are readying themselves to weather the storm. While there’s a renewed scepticism of ‘over-hyped’ technologies, it’s important to not lose sight of the big picture, and companies are now sitting up to take note of where they can and should invest their resources.”

Cotterell added “Technologies like the Metaverse, digital twins and Web3 may not seem like they’re particularly relevant, but this is often because they’re misunderstood. While it’s necessary to be sensible with investments; we’ve seen time and time again what can happen if businesses rely on ageing infrastructure and the gains made by being an early adopter of some of these more innovative technologies and practices. Working in a fast-paced industry means having to keep up with the ever-evolving nature of tech stacks; digital transformation projects are no longer fit for purpose. Instead, businesses are now looking to invest in more agile and bespoke solutions that meet the challenges of today as well as the future.”

Nick Curran, Head of Endava Middle East and North Africa said “Organisations in the UAE and the wider Middle East region have consistently demonstrated their eagerness to embrace the very latest innovations. But at the current pace of digital advancement, the abundance of emerging technologies presents an intimidating landscape for business leaders. Our report serves to guide these digital pioneers in selecting the ‘right technologies’ that will enable them to implement impactful use cases that drive tangible business outcomes and give them a decisive competitive edge.”