How can information and communication technology providers maximize new opportunities with their enterprise customers?

The digital paradigm for large enterprises is in flux. New technologies – from generative artificial intelligence (GenAI) to quantum computing – are set to complement more established capabilities in the Internet of Things (IoT) and AI, redefining what is possible through technology transformation. Other corporate priorities are also evolving at pace, forcing businesses to think through the wider implications of technology investments, from sustainability to data ethics.

Against this backdrop, information and communication technology (ICT) providers have new opportunities to support their enterprise customers on their transformation journeys. The 2024 EY Reimagining Industry Futures Study is based on an online survey of 1,405 enterprises conducted in November 2023. It shines a light on enterprise ambitions with frontier technologies, as well as their changing relationships with technology and telecommunications vendors.

While changing business needs are a fundamental positive for ICT providers, it is critical that they keep pace with evolving customer sentiments. Ahead of MWC Barcelona next week, here are four key recommendations based on insights from this year’s survey findings:

1. Articulate value based on customer priorities

Enterprises are hungry to learn more about what frontier technologies can do for their organization, and this means ICT suppliers need to do more to educate them. When asked about the top improvement they would like to see from their suppliers, more than a quarter (27%) of businesses seek better articulation of emerging technologies’ capabilities and potentials. But this isn’t enough on its own. Even more – 39% – want suppliers to better understand their own business and technology priorities.

With this in mind, suppliers should help enterprises better understand emerging technologies and the evolving vendor landscape, particularly as new technologies such as GenAI reconfigure value creation scenarios and supplier ecosystems. At the same time, they should take steps to learn more about their customers’ changing priorities, from use case and data governance needs through to their broader transformation imperatives. This will ensure that the value proposition is as relevant as possible.

2. Prioritize scalable solutions that blend the right technologies

While investment levels in new technologies are promising, turning trials into wider organizational deployment is not a given. Most organizations are still in trialing mode: AI and automation are the best established, with active deployments accounting for more than one-third of current investment, but 63% of businesses believe scaling successful technology trials is challenging. Crucially, three in four (75%) want to better understand how they can combine different technologies to create value, in the process maximizing the return on their investment in new capabilities.

To help businesses overcome these pain points, ICT providers should focus on their ability to convert technology trials into wider organizational adoption, so that businesses can build more predictable outcomes into their long-term technology roadmaps. At the same time, suppliers should evaluate the optimal adjacencies between different emerging technologies such as AI, 5G and edge computing within service portfolios, taking care to articulate the added value of combined technologies to customers.

3. Enhance security, sustainability and risk mitigation credentials

One important feature of the enterprise mindset is that new considerations are weighing on their technology investment decisions. Eighty-two percent rate environmental, social and governance (ESG) considerations as a leading or important factor in their emerging technology plans, while 46% cite improved data governance as an organizational priority when evaluating GenAI’s potential. This evolving perspective has clear implications for service providers: 74% of organizations will prioritize vendors that offer sustainability expertise as part of their 5G capabilities, for example.

As a result, ICT providers should focus on the sustainability credentials of their solutions, recognizing that ESG is feeding into the technology and vendor selection decisions. They should also underline their approach to data management and security, particularly as new technologies challenge their customers’ existing data governance and technology transformation frameworks.

4. Demonstrate capabilities in orchestrating partner ecosystems

Businesses realize they need more support from their suppliers, and nearly seven in 10 (69%) say they currently engage in collaborative ecosystems to access end-to-end technology solutions. However, they are often unsure who is best placed to serve them: 69% say they need to build better understanding of the changing supplier landscape, while half (50%) struggle to identify the right vendor to address their 5G and AI strategies.

To address these customer challenges, ICT providers should revisit their partnership strategies, ensuring they are fit for purpose as enterprise needs trend toward combinations of frontier technologies and as new competencies in AI and ESG come to the fore. The ability to orchestrate partner ecosystems – including technology providers with specialized products and skill sets – is now a critical differentiator in a crowded landscape, with more than seven in 10 (71%) businesses prepared to prioritize suppliers that can effectively organize other vendors.

With these guiding principles in place, ICT providers will be well positioned to take advantage of enterprise demand for cutting-edge technologies. Ultimately, businesses are looking for partners that can deliver long-term value through clear business outcomes – and service providers that can adapt to the changing enterprise mindset will thrive.

Reach out to me or my colleague Adrian Baschnonga if you would like to learn more about B2B opportunities for technology and telecoms providers, or find us at MWC Barcelona next week in Hall 2, Booth 2G40, where we’ll be talking to clients about these issues and more.