March 26, 2024
A PwC Caribbean Digital Readiness Survey 2024 reveals significant strides in digital transformation among Caribbean businesses, emphasizing the critical role of artificial intelligence in driving change.
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Nearly half of the businesses report seeing returns on digital investments, with a focus on customer experiences, decision-making, and brand enhancement.
PwC’s Global Hopes and Fears Survey, which finds that the majority of workers do not appear to have clarity on how their job requirements may change. What’s more, workers whose jobs don’t require specialised training appear the least likely to see change coming.
Only 15% of these respondents say the skills required to do their jobs will change in the next five years, compared with 51% of their counterparts whose jobs are more specialised.
Encouragingly, 68% of Caribbean respondents see their leader as a champion for digital transformation. However, only 59% believe their leadership is sufficiently digitally savvy and helps the workforce think in new ways.
When respondents were asked about the barriers to upskilling their workforce, the top three were: Lack of time (40%), lack of budget (36%) and lack of strategic focus on training (28%).
The survey underscores the importance of CEO leadership in digital transformation, the rise in Digital IQ, and the challenges posed by cyber vulnerabilities and legacy systems. It highlights the need for continued investment in digital tools, skills, and infrastructure to maintain competitive advantage and respond to the fast-evolving digital landscape.