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Digital Technologies are an essential part of owning a business in the 21st century, and it was recently estimated that 70% of businesses already have a digital transformation strategy. Whether it’s investing in a quantum computer, upgrading to 5G or using artificial intelligence to ease the workload, different businesses have different priorities for investing in the best technologies for themselves.
Keen to find out which digital technologies real business owners are interested in and which countries are investing the most in new tech, WalkMe.com surveyed 1,303 British business owners on the 24th of February 2022 and analysed country spending habits to find out where money is being invested and by whom, as well as analysing data from the 2021-22 Digital Future Index.
WalkMe.com also analysed recent data from the Digital Future Index which ranked countries for their spending on technologies including Artificial Intelligence, Immersive Technologies, Blockchain and Internet of Things. The results are as follows:
|
|
Countries investing most in artificial intelligence |
Countries investing most in immersive tech |
Countries investing most in internet of things tech |
Countries investing most in distributed ledger tech |
|
#1 |
USA – £71.3 billion |
USA – £11.8 billion |
USA – £15.7 billion |
USA – £8.9 billion |
|
#2 |
China – £34.2 billion |
China – £1.6 billion |
China – £3.8 billion |
UK – £1.6 billion |
|
#3 |
UK – £7.2 billion |
UK – £592 million |
Japan – £2.4 billion |
China – £1.5 billion |
|
#4 |
Israel – £3.5 billion |
Israel – £338 million |
UK – £1.7 billion |
Switzerland – £967 million |
|
#5 |
Canada – £3.1 billion |
Switzerland – £329 million |
Israel – £805 million |
Singapore – £850 million |
The United States ranks as the country investing most in digital technologies, investing the most money in every category worldwide. The USA has invested most in AI (Artificial Intelligence), and the country’s investments in AI have surpassed £71 billion in total to date.
In second place is China, who have also invested the majority of their money into AI, with investments in this area of more than £34 billion.
The United Kingdom ranks third in the study, and first in Europe. The UK is estimated to have spent a total of £10.4 billion on digital technologies, also with the most money invested into AI (£1.3 billion).
Israel ranks fourth for AI and Immersive Tech (ie. virtual reality) globally, and fifth for IoT tech (technology that connects to the internet). Switzerland ranks fourth for DLT (ie. Blockchain) and fifth for Immersive Tech.
Digital tech business owners are most interested in investing in:
|
|
Digital Technologies |
Percentage of people who would invest |
|
#1 |
5G |
32.9% |
|
#2 |
Internet of Things (IoT) |
21.9% |
|
#3 |
Artificial Intelligence (AI) |
14.5% |
|
#4 |
Biometrics |
12.7% |
|
#5 |
Quantum computing |
7.9% |
|
#6 |
Immersive Tech |
6.6% |
|
#7 |
Distributed Ledger Technology (Blockchain) |
3.4% |
WalkMe.com discovered that people would be most interested to invest in 5G as 32.9% of respondents chose the new high-speed connectivity tech as their primary area for investment. This comes as no surprise as 5G is now available in 112 countries around the world, and 5G availability now covers 49.2% of the USA.
Ranking second is Internet of Things (IoT) technology, with 21.9% of participants choosing this as their primary investment area. IoT (Internet of Things) tech are any physical devices which can be connected to the internet – from aeroplanes to computers, and lightbulbs to children’s toys.
Artificial Intelligence ranks third with 14.5% of people interested in investing. The AI sector is quickly growing in the form of self-driving cars, smart vacuums, voice-controlled assistants (eg. Alexa and Google Home), and much more.
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