Third of Large UK Companies Cite Tech Skills Shortage and Legacy IT Systems as Key Factors Delaying Digital Transformation: UST Survey
Wednesday, May 24, 2023
-- Four in 10 large UK companies consider building resiliency, boosting
profitability, and improving sustainability as key benefits of digital
transformation
-- Nearly half (45%) believe the government should provide more incentives
for businesses to invest in R&D
ALISO VIEJO, Calif. and LONDON, May 16, 2023 /PRNewswire/ -- New research commissioned by UST, a leading digital transformation solutions company, finds a third of large UK companies cite a lack of technical skills in-house (33%) and too many legacy IT systems in place (33%) as key factors delaying digital transformation. Another key factor raised by nearly a third of respondents was concern amongst their workforce about automation taking away jobs (31%).
https://mma.prnewswire.com/media/1422658/UST_Logo.jpg
While UK digital spending is projected to increase 5.2% year-over-year in 2023, the findings show UK businesses are unable to fully take advantage of technology advancements. The research surveyed 200 senior decision makers in large UK companies with an average turnover of over £9 billion.
Other key findings include:
-- Adopting the right technologies can help organisations build resiliency,
reduce operating costs, and improve sustainability: In terms of the
immediate benefits of investing in digital transformation, respondents
rated building resilience to cope with future disruption highest (41%),
followed by lowering of costs and increasing profitability (40%) and
improving sustainability (39%).
-- Cloud computing is perceived as the most important technology for
successful digital transformation: Large UK companies rated cloud
computing (75%), artificial intelligence and machine learning (67%),
augmented reality and Web 3.0 (58%) and robotics (54%) as crucial or
very important technologies driving their digital transformation
strategies.
-- The UK government has a crucial role to play in fostering innovation:
Nearly half of respondents said the government should provide more
incentives for businesses to invest in R&D (45%), support more STEM
programmes in schools and higher education (44%) and support innovation
hubs outside of current hotspots (40%). Respondents (40%) also said
greater collaboration between public, private and educational sectors
could help foster innovation.
-- In order to narrow the technical skills gap, attracting more diverse
STEM candidates has become an increasing priority: More than half (53%)
say they are partnering with schools and/or higher education to show
what types of careers are available. Nearly half are advertising job
vacancies in a wider range of places (49%), offering internships or
summer placements (48%) and running apprenticeship programmes (42%).
"Our research highlights the need for companies to continue investing in digital transformation efforts; this will help build resilience and reduce costs over the long term. Investing in technology capabilities is also vital for improving sustainability which is particularly important given the pressure many companies are under to meet net zero targets.
In order to overcome the technical skills gap, the private sector must increase collaboration with the government and educational institutions to increase uptake in STEM subjects and digital upskilling. At UST, we are proud to work closely with schools and universities not just in the UK but across the world to develop and upskill the next generation of tech talent," said Praveen Prabhakaran, Chief Delivery Officer and UK Managing Director, UST.
"For more than two decades, UST has been a trusted transformation partner for Global 2000 companies, engineering human-centered experiences and solutions. We understand that to thrive, our clients and their customers require an evolutionary approach to the ever-changing marketplace. This is why we established UST Evolve. We comprehend the intricacies of enterprise systems and the need for innovation to maintain competitiveness. We are a dedicated group of creative technologists, visionary strategists, and design thinkers who employ a fresh, simple, and nimble approach to transformation. By combining the technological and engineering prowess of UST with domain expertise that surpasses conventional transformation measures, we aim to generate tangible business impact for our clients," said Christopher Loughlin, Global Head of Transformation at UST.
UST Evolve, UST's focused transformation group, co-creates creative solutions with clients that blend equal parts empathy, tenacity, and innovative technology. Together, we engineer and architect swift and sustainable transformation that helps our clients evolve, embedding innovation, agility, and resilience into the very foundation of their organization.
NOTES TO EDITOR
Methodology
This research was conducted online by FTI Consulting and involved the opinions of 200 senior decision makers in large UK companies with an average turnover of over £9 billion, spanning a wide range of industries. The survey was completed at a time and on a device convenient for respondents. For more information about the methodology, please contact: stratcommresearchemea@fticonsulting.com
About UST
For more than 23 years, UST has worked side by side with the world's best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges, and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients' organizations--delivering measurable value and lasting change across industries, and around the world. Together, with over 30,000 employees in 30+ countries, we build for boundless impact--touching billions of lives in the process. Visit us at www.UST.com
Media Contacts, UST:
Tinu Cherian Abraham
+1 (949) 415-9857
Merrick Laravea
+1 (949) 416-6212
Neha Misri
+91-9284726602
media.relations@ust.com
Media Contacts, U.S.:
S&C PR
+1-646.941.9139
media@scprgroup.com
Makovsky
ust@makovsky.com
Media Contacts, Australia:
Team Lewis
ust@teamlewis.com
Media Contacts, U.K.:
FTI Consulting
UST@fticonsulting.com
Logo: https://mma.prnewswire.com/media/1422658/UST_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/third-of-large-uk-companies-cite-tech-skills-shortage-and-legacy-it-systems-as-key-factors-delaying-digital-transformation-ust-survey-301823246.html
SOURCE UST
|
|
|
|
|
 |
Weekly Recap: 11 Tech Press Releases You Need to See | Jan 22, 2026
|
|
Sup AI Sets New Benchmark Record with 52.15% on Humanity's Last Exam | Jan 22, 2026
|
|
DEADLINE ANNOUNCED FOR 2026 NEW TOP-LEVEL DOMAIN APPLICATIONS | Jan 22, 2026
|
|
Skunk Works® and XTEND Expand Joint All Domain Command and Control for Advanced Mission Execution | Jan 22, 2026
|
|
Trigent Partners with WeWork India to Expand its GCC Footprint | Jan 22, 2026
|
|
Exia Labs Brings Keystone to the U.S. Navy via DIU's Blue Object Management Challenge | Jan 22, 2026
|
|
Altair HyperWorks 2026 Delivers Design and Simulation at Scale with AI | Jan 22, 2026
|
|
Glasswall Brings Defense-Level File Sanitization to Every Government Agency and Business Using Microsoft 365 | Jan 22, 2026
|
|
Genpact Named a Leader in ISG Provider Lens(TM) 2025 for Insurance GCCs and Agentic AI Services | Jan 22, 2026
|
|
The Roadmap to Securing Your Own Digital Domain is Now Available | Jan 22, 2026
|
|
|
