Growing regulatory and customer expectations and geopolitical turmoil are putting energy companies in the spotlight. New research from KPMG suggests that the industry is banking on technology investment for its future growth.
New research by KPMG International, the KPMG Global Tech Report 2023, based on a survey of 2,100 executives from 16 countries and nine industries, shows that energy companies see new technologies as a lifeline they can leverage to overcome their market’s challenges.
61%
see regulation and security as the “main trigger” of digital transformation.
80%
say the tech function needs to improve messaging of the potential of new technologies to the board.
39%
see the lack of skills as the most likely barrier to transformation progress.
72%
report an increase in profit or performance over the last 24 months thanks to digital transformation initiatives involving low code/no code or cybersecurity systems.
84%
are confident that their organisation will be able to advance their ESG priorities/commitments using existing technology.
85%
are confident they can improve efficiencies and cut costs using their existing technology stack.
