The Digital Panorama 2024 report reveals a change in companies' strategy

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Written by Editorial Staff November 5, 2024 at 1:33 PM

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The rapid innovation cycle and inflation are forcing companies to focus on profitability . 53% will maintain their investment in digital products in 2024 , and only 13% will reduce it. Automation ( 55.7% ) and customer acquisition lead the digital product goals.

On the other hand, when it comes to optimizing the creation of these digital products, 68% perceive it as a priority, while the creation of new products has fallen from 60% in 2023 to 50% in 2024. Companies are focusing on improving what they already have rather than launching new products.

These conclusions are drawn from the new Digital Panorama 2024 Report , prepared and promoted by the digital product consultancy, Cloud District .

To enrich the data from a strategic and introspective point of view, the company has brought together leaders from the ecosystem to delve into relevant topics for the sector in the form of a podcast . The first conversation in this series features Carmen Boronat and Jaime Serrano from Cloud District. Listen to the first episode of the podcast.

Focused on two fundamental pillars: Product and Culture , its leaders highlight the commitment to share with the entire ecosystem the strategy of large companies, the impact of the digital products they launch, the challenges they face and the trends they are following, say Jaime Serrano, co-founder of Cloud District , and Carmen Boronat, the company's new CEO.

Among the most relevant data in the report, those that we can explore in terms of the Environment and Trends (relating to Artificial Intelligence ) stand out.

Environment and adoption : 68% of companies consider AI to be key to staying competitive. 56.8% identify themselves as “early adopters” of the technology, although only 44% define themselves as “data-driven”, which reveals a drop compared to previous years.
Challenges and opportunities : In 2023 , the main challenges are adaptation to AI ( 47% ) and market uncertainty ( 36% ). By 2024, 86% of companies consider AI both a challenge and an opportunity and identify it as a transformative tool.
Job perception : 70.4% do not perceive AI as a threat to employment. Daily use of AI is widespread: 82% use it in their work, integrating it into areas such as Technology ( 90% ) and Marketing ( 86% ).
Data-driven : Although data collection and analysis is a priority ( 63.6% ), only 49% of afghanistan whatsapp lead companies consider themselves “data-driven” in 2024 , showing a disconnect between aspirations and reality. Furthermore, execution based on data analysis remains limited.
Digital strategy
Digital teams and hiring : Investment in teams is limited, with 47% of companies not planning to hire in 2024. The most in-demand profiles are Data Specialist ( 30% ) and Product Manager ( 25% ). Companies face the dilemma of balancing operational efficiency with the need to innovate and remain competitive. The reduction in the CPO role (from 60% in 2023 to 33% in 2024 ) reflects a greater distribution of responsibilities in digital product management.

Culture
Product culture : 87% of companies say their purpose is reflected in product development, and 93% say their values ​​are aligned with their purpose. This reinforces consistency and transparency in product culture.
Impact and sustainability : 77% of companies believe that their product culture has an impact on the environment, although only 49% have implemented sustainability projects by 2024. Key areas are impact on society and process optimization with suppliers and customers.
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