New research has found that business leaders are being over-confident in their opinions on how well their organisations are handling and adapting to new technology.

The research from the Economist Intelligence Unit (EIU) found that while 92 per cent of respondents said that speed was part of their business culture, only 24 per cent were found to be in organisations that were able to rapidly adapt to new changes.

The study reported that: “The study found that the real rate of change is masked by challenges and bottlenecks inside companies."

Barriers to improved agility and the faster adoption of new technology were found to include a lack of standardisation across organisations and an inability to link technological services and platforms together.

Another major barrier to the adoption of technology included gaps between digitally literate employs and traditionally minded managers who lacked the required skill-sets to push new technologies.

Phil Keoghan, CEO of Ricoh, which sponsored the research, said: “the pressure and perceived complexity of changing business operations from traditional to digitally-focused ways of working is obscuring the true rate of success.”

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