70% of CEOs say network is slowing business growth, study finds

70% of CEOs have said their network maturity level is having a negative effect on overall business delivery, according to a recent study from NTT, a global IT infrastructure and services company.

Just two in five businesses said they are very satisfied with their current network capabilities, even though the majority of executives rely on it to grow the business (90%) and support advanced applications such as artificial intelligence (91%).

The report said that the integration of hybrid working models with distributed work environments is leaving businesses vulnerable to attacks from malicious actors.

Most business leaders now believe their network requires a “deeper level” of access control and inspection to keep these attacks at bay, however the report echoed that this requires a larger investment in network cybersecurity.

“Levels of investment in the network have surged,” said Amit Dhingra, executive vice president at NTT. “This is primarily to drive security and gain access to skills that can both optimise capability and accelerate innovation-based advances.”

Respondents stated that their biggest concerns – other than ensuring their network is secure – is modernisation and the ability access to a number of services from their provider.

The study points to the network as a service model as being the preferred way for businesses to manage their network (90%), citing the flexibility to scale up and down as a major attraction.

Dhingra’s agrees that “organisations should turn their attention to a network as a service model.”

“Businesses should consider security, skills competency, ability to scale, private 5G, and software defined networking when selecting a network service provider. In the long term, blockchain, further AI and automation, AR and VR, quantum networking, 6G and photonic computing will affect how networks are delivered,” he added.

Additionally, a complexity in deploying effective AIOps and automation solutions, which simplify ongoing network operations, make the network as a service model more beneficial to businesses.