Seven Dimensions of Successful Business Transformation
What’s in this report from global law firm Mayer Brown:
A new survey by international law firm Mayer Brown has revealed that business leaders are increasingly aware about their organizations’ ability to keep pace with developments in AI and technology. Of those surveyed, over seven in 10 are concerned that they are being outpaced by developments in AI.
The survey, which includes insights from 197 business leaders, found that 72% of leaders of financial institutions and 83% of leaders of investment firms believe the need to advance their existing AI capabilities will be the primary driver of M&A activity over the next few years.
However, despite recognition of the importance of technology, fewer than a third of financial services businesses have a clear strategy in place for AI. Of those that do, only 34% have a strategy that looks beyond the next 12 months. Increasingly, business leaders are looking beyond organic growth for AI expertise or infrastructure.
The survey also identified seven key dimensions of a business that is future ready, including creative capital, geopolitical activity, new risk mindset, sustainability focus and tech resilience.
