According to Accenture’s latest CXO Survey nearly 30% of Apac leaders flag limitations with data or technology infrastructure as the key stumbling block in their efforts to using generative AI in their organisations. This limitation is in part created by technical debt, and organisations in this region are expected to spend nearly 30% of their IT budget on remediating technical debt over the next two years, which is 8% higher than the global average.
As organisations in Asia Pacific (Apac) continue on their path to data and AI-driven reinvention in 2025, they need to urgently address the historical issue of technical debt, or the hidden cost of outdated or inefficient technology implemented over the years.
Tech debt has a significant impact on technology transformation efforts. It affects IT budgets, hampers the ability to innovate, and impedes the adoption of new technologies. In the US alone, technical debt costs a staggering US$2.41 trillion annually, with US$1.52 trillion needed to fix it.
