By Ronan Carey, Director, Dell Technologies Ireland and Northern Ireland
It’s no secret, innovation is indispensable. It inspires creativity, collaboration, and change. Without it, companies across Northern Ireland would struggle to keep up, embrace market shifts or deliver the next big breakthrough. Simply put, it is the currency that drives today’s digital economy.
Businesses across the island of Ireland are optimistic about the strength of their business and innovation. 65% acknowledge that their business has a vibrant culture of innovation, and 50% of businesses poses strong confidence that their business is well insulated from economic turbulence.
But despite the positive outlook, only 18% of organisations are defined as innovation leaders and adaptors and the question still needs to be answered: What is stopping organisations from advancing the ball on their innovation initiatives?
In today’s disruptive world, to be able to innovate and emerge as a digital leader, businesses need to have the right people, processes, and technologies in place. This is often not simple as it seems.
This outlook was evident in the 2023 Dell Technologies Innovation Index study, which revealed that 79% of business leaders are more inclined to favour their own ideas while only around half (52%) are not aligning innovation projects to company goals. Even fewer are analysing what didn’t work or carrying those lessons forward. Worryingly, 61% believe their technology is not cutting-edge and fear falling behind their competitors.
So, what must businesses in Northern Ireland do to cultivate an innovative mindset as we move into the digital economy?
At Dell, we believe that one of the most meaningful and effective ways is by empowering innovators to make a direct difference in people’s everyday lives. This means leaders need to investigate their business’ readiness and maturity to innovate and where they need to double-down. Innovation can only be truly harnessed when the people, process and technology transformation are uniformly applied across an organisation’s practice.
A people-led business
68% say their company’s culture is holding them back from being as innovative as they want to be. True innovation begins with empathetic leadership, and technology that frees people from unfulfilling tasks. Business leaders need to encourage employees to discover the innovator in each of them.
What companies often fail to understand is that successful transformation is about so much more than hardware and software. Most businesses will readily attest to the need for technology transformation to be accompanied by workforce transformation and development of human business skills.
Unfortunately, there is no one-size-fits-all solution to enable Irish businesses to future-proof their workforces. It is critical for companies to ensure that their learning framework extends beyond standard training and development to also include a continued-learning plan, which sets the organisation as well as the individual on the road to transformation.
An end-to-end process
Today, data is a big differentiator, and businesses can achieve breakthroughs with real-time data and decisions. However, just 14% of decision-makers say all their innovation decisions are based on data.
A lack of a well-defined implementation process is often a key barrier to prioritising innovation-focused projects. An innovation mindset can only survive when businesses use available data and insights to meticulously build an end-to-end, ideation-to-execution process.
Technology, a catalyst for growth
Despite the fast-paced shifts taking place across the economy, many businesses still don’t regard technology as an agent of change. One barrier is IT complexity, where adopting new technologies can be considered cumbersome and expensive.
However, with the widespread availability of pay-per-use consumption models, businesses of all sizes can align their innovation goals with agility, simplicity, and purpose.
In Northern Ireland, businesses are turning to emerging technologies to accelerate their journey of digital transformation. The Dell Apex portfolio which brings as-a-service and cloud strategy, storage solutions and cyber and data protection offerings and go-to-market under a single effort has proven to be a real game changer for our customers. It is a critical enabler in sizing an organisation’s existing IT needs while ensuring availability, performance and most importantly, accelerating future scalability.
The impact of emerging technologies cannot be ignored
Transformation is occurring at many different layers across the information technology stack. With new technologies emerging at each of these different layers, organisations across Northern Ireland need to be able to navigate these technology inflections to create an innovation ecosystem that optimizes their business for a digital future, supports better customer outcomes, and minimizes the risk of digital disruption by competitors.
Looking ahead
Innovation is essential to driving business growth, innovation and competition. That is why the Dell Technologies Forum, taking place on Tuesday, 26th September 2023 in The Connection Centre Dublin, will outline how business leaders can transform ideas into innovation by unlocking the power of emerging technologies.
With a focus on AI, cyber security, multi-cloud, edge computing and the future of work, this year’s event will feature expert speakers and interactive networking sessions across range of topics to ensure Irish businesses continue transforming at speed.
Now is the time for business leaders, employees, and consumers to look ahead, harness the right tools and solutions, and do things differently.
To register for the Dell Technologies Forum, click here.
