Drive Innovation in the Gaming & Hospitality Industry With an Exponential IT Mindset
2023 Benchmark Report
- Organizations are trying to understand the implications of new shifts and technologies in the industry as they have accelerated at a fast pace with new trends and buzzwords.
- Strategic focus has been blurred by the pressure of implementing trending technologies.
- Economic shifts are happening more often than ever, causing new threats and opportunities to enter the industry, where determining how to sustain and remain competitive can be difficult.
Our Advice
Critical Insight
To drive the adoption of emerging tech across the industry, CIOs need to create new skills, processes, and capabilities to improve IT maturity and lead innovation.
Impact and Result
- Identify how industry leaders can remain competitive within an ever-changing landscape.
- Insights will be used to determine the current versus future state and solutions to improve the innovative mindset within the gaming and hospitality industries.
- Info-Tech has identified five key areas to assist IT leaders in assessing their innovation maturity and driving adoption.
Drive Innovation in the Gaming & Hospitality Industry With an Exponential IT Mindset
2023 Benchmark Report
Analyst Perspective
Leverage technology advancements to enable the future.
The gaming and hospitality industry has struggled to gain the trust, recognition, and maturity to achieve innovative or business partner status. This has caused the industry to be slow to adopt innovative technologies and to remain competitive with the changing landscape of the economy.
Achieving an Exponential IT mindset requires a strong foundation and a subset of capabilities to properly execute initiatives and remain competitive within the industry. IT leaders will need to gain a detailed understanding of their business and in-depth knowledge of emerging technologies so that they can match business opportunities with innovative technology capabilities while managing risk and change.
Use this research to comprehend the industry benchmark and what areas of the business you should evaluate to determine your own maturity to drive Exponential IT.
Elizabeth Silva
Senior Research Analyst, Gaming, Hospitality, Sports & Entertainment Industries
Info-Tech Research Group
Executive Summary
Your Challenge
- Organizations are trying to understand the implications of new shifts and technologies in the industry that have accelerated at a fast pace due to new trends and buzzwords.
- Strategic focus has been blurred, due to the pressure of implementing trending technologies.
- Economic shifts are, more often than ever, causing new threats and opportunities to enter the industry, where determining how to sustain and remain competitive can be difficult.
Common Obstacles
- IT is not typically viewed as a business partner within Gaming & Hospitality, causing a lack of innovation to continue meeting the needs of guests.
- Gaming & Hospitality has been slow to adopt innovative technologies that other industries have been using for years.
- Due to the highly regulated environment, there are barriers to entry for many technologies, slowing the organization's digital transformation.
Info-Tech's Approach
- Identify how industry leaders can remain competitive within an ever-changing landscape.
- Insights will be used to determine the current versus future state and solutions to improve the innovative mindset within Gaming & Hospitality.
- Five key areas are identified to assist IT leaders in assessing their innovation maturity and driving Exponential IT.
Info-Tech Insight
To drive the adoption of emerging tech across the industry, CIOs need to create new skills, processes, and capabilities to improve IT maturity and lead innovation.
Our data is sourced from several analytical documents
CIO Business Vision Diagnostic
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CEO-CIO ALIGNMENT DIAGNOSTIC
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Management & Governance Diagnostic
Take Info-Tech's Management & Governance Diagnostic to gain real insight into which processes your IT staff think are important and effective.
IT Staffing Diagnostic
Take Info-Tech's IT Staffing Diagnostic to gain real insight into where your IT staff are spending their time, perceived effectiveness, and barriers to success.
Security Governance Diagnostic
Take Info-Tech's Security Governance Diagnostic to understand the strengths and weaknesses of IT security governance and management.
IT Spend & staffing benchmark
Take Info-Tech's IT Spend & Staffing Benchmark to capture, analyze, and communicate your IT spending and staffing, accelerating your IT Financial Management journey to showcase IT's value to the business.
The industry is shifting, and so should your organization
Challenges
- Organizations are trying to understand the implications of new shifts and technologies in the current economy as it has rapidly accelerated due to new trends and buzzwords such as Gen AI.
- In 2022, 34% of Americans visited a land-based casino, which is an increase of 6% from 2021 but still 10% less than in 2019 (pre-pandemic).
- Source: World Casino News, 2023.
- Strategic focus has been blurred, due to the pressure of implementing trending technologies.
- 30% of organizations lack a holistic AI strategy, preventing the adoption of Gen AI.
- Source: Help Net Security, 2023.
- Economic shifts are, more often than ever, causing new threats and opportunities to enter the industry, where determining how to sustain and remain competitive can be difficult.
- A 15% increase in interest for online casinos was captured in 2022, showcasing that the gambling industry is going digital.
- Source: Business News This Week, 2023.
of organizations are concerned with not adopting Gen AI fast enough to remain competitive |
35% |
Have security concerns |
32% |
Lack a cohesive AI strategy |
30% |
Lack internal policies to properly govern Gen AI |
27% |
Source: Help Net Security, 2023.
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- 4 anonymous IT leaders, Gaming & Hospitality