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Cisco Canada survey reveals innovation will not be a precedence for many Canadian organizations

ByEditorialTeam

Sep 23, 2022

Cisco Canada and Angus Reid have launched a survey which revealed that Canadian organizations are struggling to ramp up their investments in innovation.

The nation is falling behind the remainder of the world as a consequence. In accordance with The Group for Financial Cooperation and Growth (OECD), Canada is behind in its innovation and R&D investments, in comparison with different nations. Moreover, The Convention Board of Canada gave Canada a “C” ranking in its 2021 Innovation Report Card, stating: “Canada continues to exhibit comparatively weak innovation efficiency.”

Only a third of companies in Canada reported contemplating funding in expertise infrastructure a precedence this yr, and solely 27 per cent stated they’re contemplating digitizing enterprise processes.

The research revealed that, slightly than expertise and innovation, corporations with over 1,000 workers are prioritizing worker retention and expertise acquisition. Smaller organizations are prioritizing buyer acquisition and consumer retention.

The research confirmed that expertise infrastructure, digitizing/automating enterprise processes, and updating a legacy expertise stack have been fairly low on the record of priorities, even in organizations that worth expertise. 

Whereas some organizations are investing in expertise, solely 16 per cent of respondents famous that they’re investing considerably extra in expertise infrastructure and innovation than within the earlier yr.

Cisco Canada additionally requested respondents about their investments in sustainability. 

Solely 25 per cent of respondents stated they prioritize environmental sustainability a fantastic deal. Virtually half of respondents stated they ‘considerably’ prioritize environmental sustainability; organizations with over 1,000 workers appear to worth and prioritize environmental sustainability extra. 

Whereas sustainability has elevated in significance for a lot of companies, they nonetheless face boundaries to selling it inside their group. A few of these boundaries embrace lack of price range and lack of time. Fifty eight per cent of respondents stated expertise may be very/considerably essential to assembly environmental sustainability targets at their enterprise.



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