Info-Tech Research Group Advises the Gaming & Hospitality Industry to Bet Big on Exponential IT in New Industry Report
The firm's benchmark report explains the imperative need for an Exponential IT mindset in the Gaming & Hospitality industry. The research unveils critical insights into the challenges organizations face, highlighting the necessity for industry IT leaders to redefine approaches toward innovation. By embracing Exponential IT principles, organizations can revolutionize guest experiences and thrive in an ever-evolving landscape.
TORONTO, March 1, 2024 /PRNewswire/ - The Gaming & Hospitality industry is facing a rapidly changing landscape marked by technological advancements and shifting consumer expectations. The shift is presenting multifaceted challenges for organizations within this sector. From navigating complex regulatory frameworks to meeting the demands of an increasingly competitive market, the need for innovative solutions has become paramount. To help IT leaders within the industry navigate these challenges, Info-Tech Research Group has published its latest benchmark report, Drive Innovation in the Gaming & Hospitality Industry With an Exponential IT Mindset.
According to research by the firm, IT leaders in Gaming & Hospitality display an order-taking mentality, with 32.5% primarily utilizing IT innovation to improve existing business processes rather than fostering true innovation. Info-Tech's recently published report provides a strategic roadmap for IT leaders to leverage Exponential IT principles and unlock new avenues for growth in the digital era.
"IT leaders in the Gaming & Hospitality industry have struggled to gain the trust, recognition, and maturity to achieve innovative or business partner status," says Elizabeth Silva, senior research analyst at Info-Tech Research Group. "This has caused the industry to be slow to adopt innovative technologies and to remain competitive with the changing landscape of the economy."
Info-Tech's report explains that, despite its potential, the Gaming & Hospitality industry often views IT as a support function rather than a strategic business partner. This perception can hamper the adoption of innovative technologies, limiting the industry's ability to meet guests' evolving needs and to compete in a digital-first economy. Compounded by the highly regulated environment, these factors further act as barriers to entry for many technologies, thus impeding an organization's digital transformation efforts.
"Achieving an Exponential IT mindset requires a strong foundation and a subset of capabilities to properly execute initiatives and remain competitive within the Gaming & Hospitality industry," explains Silva. "IT leaders will need to gain a detailed understanding of their business and in-depth knowledge of emerging technologies to match business opportunities with innovative technology capabilities while managing risk and change."
To address the challenges in the Gaming & Hospitality industry, Info-Tech identifies in the report the following five pivotal areas for IT leaders to evaluate their innovation maturity and drive Exponential IT:
1. Organizational Excellence:
- Innovation mandate
- Transformational leadership
- Culture of innovation
- Vision & strategy
2. Insights & Intelligence:
- Business context
- Strategic foresight
- Emerging tech expertise
- Strategic alignment
3. Agile Ideation:
- Data-driven decision-making
- Ability to identify opportunities
- Business engagement
- Risk management
4. Team Capabilities:
- Resourcing & investment
- Talent & skills
- Change management
- Partnerships & Ecosystem
5. Innovation Execution:
- Governance
- Embedded security
- Infrastructure
- Ability to execute
Info-Tech's Drive Innovation in the Gaming & Hospitality Industry With an Exponential IT Mindset report highlights the importance of adopting an exponential IT mindset to drive innovation for IT leaders within the Gaming & Hospitality industry. By embracing this mindset, organizations in this industry can revolutionize customer experiences, optimize operational efficiencies, and navigate toward sustained growth and competitive advantage.
For exclusive and timely commentary from Elizabeth Silva, an expert in the Gaming & Hospitality industry, and access to the complete Drive Innovation in the Gaming & Hospitality Industry With an Exponential IT Mindset blueprint, please contact [email protected].
About Info-Tech Research Group
Info-Tech Research Group is one of the world's leading information technology research and advisory firms, proudly serving over 30,000 professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. For more 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
Media professionals can register for unrestricted access to research across IT, HR, and software and hundreds of industry analysts through the firm's Media Insiders program. To gain access, contact [email protected].
For information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and X.
SOURCE Info-Tech Research Group
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