The hidden cost of legacy systems: How they hinder ROI and digital transformation
At this point in time, it is essential for one’s company to transform digitally in order to stay competitive and work efficiently. Most organizations will pour money into new modern technologies to heavily improve ROI and operational performance while ensuring they stay relevant in the new digital world. However, there is a barrier that stands in the way of achieving the maximum benefits: legacy systems.
Outdated and old software, hardware, and technologies continue to slow down any organization's positive transformation. To make matters worse, legacy systems tend to derail digital transformation initiatives, leading to additional expenses, hidden costs, and delays.
Beyond traditional metrics: How to redefine AI success
In the past year, AI made great strides in moving past hype, so much so, that it’s hard to recall the early days of AI when the initial value of the technology was questioned. Today, as AI initiatives start to deliver widespread returns, enterprise CIOs are faced with competing forces of driving down core IT costs, while investing heavily in AI to drive business transformation.
A recent study of 2,400 IT decision makers, commissioned by IBM and developed with Lopez Research, underscores this optimism. The findings reveal that the vast majority of companies are making headway on their AI strategies, with nearly half already reporting positive financial returns from their deployments. The cost benefits have been especially pronounced for organizations using open-source AI tools -- 51 percent of surveyed companies harnessing open-source solutions reported seeing positive ROI, compared to just 41 percent of those that are not.