Breaking news

Navigating The Tech Readiness Paradox: Insights From The 2024 Kyndryl Readiness Report

by THEFUTURE.TEAM

January 24, 2025

Business leaders globally are navigating a paradox. While confident in their current IT systems, many question their readiness for future risks and transformative technologies. The 2024 Kyndryl Readiness Report, informed by insights from 3,200 leaders and exclusive data from Kyndryl Bridge, highlights this tension.

A Confidence Gap In Risk Preparedness

The report reveals that while 90% of leaders view their IT infrastructure as best-in-class, only 39% feel adequately equipped to handle emerging risks. Cybersecurity remains the top concern, followed by policy shifts and environmental disruptions. Just 29% of leaders feel ready to face multiple external risks simultaneously.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Outdated Systems And Tech Paradoxes

Despite optimism around current systems, 44% of servers, networks, and operating systems are nearing or at the end of their lifecycle. This aging infrastructure poses a significant challenge, with 61% of leaders concerned about the ability of their IT systems to support future needs.

Modernization: A Priority With Barriers

Tech modernization is a universal priority, with 94% of executives ranking it as critical. However, progress is uneven. Over half (56%) are mid-transition, while 16% are just starting out. The journey is hindered by complexity, competing priorities, and the challenge of balancing immediate needs with long-term goals.

The AI Conundrum

Artificial intelligence investments are widespread, with businesses embracing both traditional and generative AI. Yet only 42% report a positive return on these investments. Furthermore, while 86% consider their AI implementation top-tier, 71% doubt their IT’s readiness to fully integrate AI solutions.

The Rewards Of Modernisation

Businesses that succeed in modernizing their tech report significant benefits:

85% saw increased operational efficiency.
71% achieved improved innovation.
60% noted enhanced employee or customer experiences.

Conclusion

The 2024 Kyndryl Readiness Report paints a complex picture: while confidence in current IT systems is high, the readiness to confront future risks and seize technological opportunities is lagging. This gap highlights the urgent need for businesses to accelerate their tech modernization efforts, simplify processes, and bridge the disconnect between innovation and operational priorities. Leaders who successfully navigate these challenges will not only future-proof their organizations but also unlock significant competitive advantages, from greater efficiency and innovation to improved customer and employee experiences.

The message is clear—modernization is no longer optional; it’s the cornerstone of sustainable growth and resilience in an unpredictable world.

The Future Forbes Realty Global Properties

Cyprus Inflation Climbs To 4% In June As Euro Area Price Growth Moderates

Cyprus’ annual inflation accelerated to an estimated 4% in June 2026, widening the gap with the euro area, where price growth continued to ease, according to flash estimates released on Tuesday by Eurostat.

Domestic Prices Move Higher

Consumer prices in Cyprus increased by 0.8% compared with May, based on the Harmonised Index of Consumer Prices (HICP), as inflationary pressures gathered pace across the domestic economy.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

That contrasted with the broader euro area, where annual inflation is estimated to have slowed to 2.8% in June from 3.2% in May, extending the bloc’s gradual disinflation trend.

Cyprus Moves Further Above The Euro Area Average

The latest figures leave Cyprus well above the euro area’s average inflation rate, highlighting a divergence between domestic price developments and those across the single currency bloc. While inflation continued to moderate in much of the eurozone, price growth accelerated on the island.

Across the euro area, energy remained the largest contributor to inflation, posting an annual increase of 8.7% in June. Although still elevated, that represented a slowdown from 10.8% in May.

Services inflation also eased, falling to 3.2% from 3.5% a month earlier.

Food And Industrial Goods Show Softer Growth

Price growth moderated in several other categories as well. Inflation for food, alcohol and tobacco slowed to 1.6% from 1.9% in May, while non-energy industrial goods remained unchanged at 0.9%.

A Sharp Reversal From Spring

June’s reading marks a notable shift from earlier in the year. In March, Cyprus recorded one of the lowest inflation rates in the European Union at 1.5%, reflecting relatively subdued price pressures at the time.

Since then, inflation has accelerated as the impact of the conflict in the Middle East and Gulf region, particularly through higher energy costs, has become increasingly visible in consumer prices.

With annual inflation now reaching 4%, Cyprus has moved well above the euro area average, suggesting that imported cost pressures are playing a growing role in domestic inflation.