Tag: #DELOITTE

Almost one in four people in Ireland have set screen limits on their devices

Smartphone use remains deeply woven into the daily lives of people of all ages in Ireland, but levels of digital fatigue are increasing, Deloitte’s latest Digital Consumer Trends survey reveals.

In the last year, almost one-quarter of respondents (24%) have set screen time limits on their phones.

Needing a break was the top reason respondents gave for deleting a social media app (27%), and one-quarter did it because they stopped using the app.

23% said the app they deleted was consuming too much of their time and the same amount said they were getting too many ads or sponsored posts.

Misinformation (22%), a negative impact on mental health (18%), and content being boring (16%) were the other top reasons for deleting an app.

Nearly two-thirds of respondents (65%) switched off all notifications from one or more apps in the past year, 21% stopped using a digital wearable, 19% stopped using a digital device, and 17% stopped reading e-books on digital devices.

Nearly half of Gen Zs joined a social media app (46%) but nearly one-in-three (32%) said they had deleted an existing app from their device. The joining and deleting of social media apps is lower amongst other generations.

  Joined a social media app Deleted a social media app
Millennials 27% 29%
Gen X 16% 26%
Boomers 12% 18%

 

70% of respondents said they tend to spend too much time on their phone. This breaks down to 77% of Gen Zs, 78% of Millennials, 73% of Gen X and 48% of Boomers.

82% of those surveyed said they check their smartphone at least 10 times a day and 59% said at least 25 times. Over a third (34%) said they check their phone at least 50 times a day and 15% said they do so at least 100 times.

60% of phone owners look at their phone within 15 minutes or less after waking up, which is down from 65% in 2024. More than half (54%) stay awake later than planned due to using their mobile phone.

Majority of adults say children are ready for smartphones by 12-15, but also favour social media usage limits for those under 18

82% of people in Ireland said they would support social media platforms introducing usage limitations for those under 18.

More than half (57%) would ‘strongly favour’ social media platforms requiring age verification when registering and (56%) would ‘strongly favour’ introducing usage limitations for people under the age of 18.

Despite this, most adults (58%) feel the appropriate age for a first smartphone is between 12 to 15 years old.

Nearly one-in-three (32%) believe children should get their first smartphone at 12-13 years of age and more than a quarter (26%) believe they should be 14-15. Only 4% believe the devices should not be given to under 18s and 22% believe they should be given to those aged 16 or older.

Nearly half (43%) of respondents think a teenager should be 16 or older to have access to social media.

Close to one-quarter (24%) think those with social media access should be 14-15, while 16% said 12-13 years of age. Just 4% said 10-11 years and only 8% believe social media should not be available to those aged under 18.

Gen Zs prefer to get their news from social media, but more people are reporting an increase in misinformation

The survey shows misinformation continues to rise as 59% now say they more regularly see fake information online – up from 53% in 2024 and 46% in 2023

Despite such concerns, nearly half of Gen Zs (47%) say they prefer to get their news from social media and only 34% of this generation say the same for TV. This compares to 44% of Millennials, 65% of Gen X and 75% of Boomers saying their preferred source for news is TV.

54% of Boomers and 47% of Gen X prefer to stay updated on news and current events using radio, in contrast to 29% of Millennials and 19% of Gen Z.

Just 2% of Boomers prefer podcasts, while this figure is 14% across the three other generations surveyed.

Commenting on the Digital Consumer Trends findings, John Kehoe, a Deloitte Ireland partner who has worked on the Digital Consumer Trends report for seven years, said: “With 60% of us looking at our phones within minutes of waking up, it’s clear that our smartphones continue to play a crucial role in our modern-day lives. But the number of respondents who say they either need a break from social media, are turning their notifications off, or setting screen time limits, shows that how we engage with our devices is changing. The fascinating findings of Deloitte’s Digital Consumer Trends Survey poses the question – are we entering the age of the digital detox?”

Deloitte opens the 2025 Fast 50 awards

Deloitte Ireland is inviting the country’s fastest-growing and most innovative technology companies to apply to be part of the prestigious Deloitte Fast 50 awards. The programme, which celebrates home-grown entrepreneurship, ranks the 50 fastest growing indigenous technology companies based on revenue growth over the last four years.

The list features both private and public listed technology companies that have demonstrated creative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders.

“The dynamic shifts in the macroeconomic landscape since the 2024 awards have intensified businesses focus on resilience and upholding the highest standards of quality across their organisations,” explains Jams Toomey, partner and Fast 50 programme lead at Deloitte.

“The changes in our current trading environment have shifted our focus here at home in Ireland. More than ever, we realise we need to invest and support indigenous businesses to insulate Ireland and keep us an innovative and exciting place to work and live. It’s why I’m passionate about the Deloitte Fast 50 awards, because every year, for 26 years, we celebrate the 50 fastest growing tech companies on the island of Ireland. Each business is a real-life example of the incredible indigenous companies that are being talked about so much.

“For any company considering applying, previous ranking companies have included unicorns Wayflyer and Tines,” continues Toomey. “That shows the calibre of our winners. The rankings are trusted, respected and purely quantitative based, solely looking at growth, so it’s an objective ranking. We hear from previous participants how this has helped them when looking for external investment. In this environment, when investors are being sharper and smarter with their money, this is invaluable. I look forward to seeing which companies apply and seeing many of them at our awards ceremony in November.”

This year’s awards programme will include several award categories that companies can enter in addition to the overall ranking. 2024 winners of these awards include Catagen for the Impact Award in association with Meta.

  • Growing New Technology Award in association with Google: This award recognises a company that has created or introduced a new or innovative product or service to international markets, which helped grow their business over the last four years.
  • Impact Award in association with Meta: This award recognises a company that has made a significant impact within the current year.
  • Women in Technology Advocate Award in association with NetSuite: This award will be presented to an individual who has demonstrated through their actions that they are an advocate for increasing participation by, and promotion of, women in the technology sector.
  • Scale Up Award in association with Scale Ireland: This award recognises a company that has demonstrated an impressive ability to scale up/expand overseas over the last four years.
  • Financial Services Innovation Award in association with Financial Services Ireland: This award recognises a company with an innovative product or service that is having a disruptive impact within the financial services industry.
  • The Rising Star award in association with Enterprise Ireland: This award will recognise a company that has demonstrated a promising growth trajectory and the potential for inclusion in the Fast 50 rankings in years to come. Companies being considered for this award must have operating revenues accounting for a minimum of 2 years and less than 4 years.

Application details and further information about the programme can be found here: https://www.deloitte.com/ie/en/Industries/tmt/technology-fast-50-awards.html

The closing date for entries is 19 September 2025 and the winners will be announced at a ceremony in Dublin on 27 November 2025.

Irish employees thrive with AI, while employers fall behind

Surveying 1,000 people in Ireland, the Deloitte Digital Consumer Trends report shows that over two thirds (67%) of GenAI users say it boosts their productivity at work, but less than one in four (24%) say their employer actively encourages use of the technology.

The research shows that 90% of Irish companies lack a GenAI policy and that while GenAI users are more likely to use the technology for personal reasons (69%), the percentage using it for work tasks is up from 32% in 2023 to 36%.

A total of 48% of respondents have used GenAI, an increase from 33% in 2023. Meanwhile, the percentage of those who are not aware of GenAI is down from 38% in 2023 to 27%.

Of those using GenAI, 10% are using it daily, 28% are doing so weekly and 15% are using it monthly. A total of 46% are using it less than monthly, with 24% of this cohort saying they don’t know how to use it well and 18% saying they are dissatisfied with the answers they receive.

Use of GenAI is highest among younger people at 85% for those aged 18 to 24, followed by 69% for the 25 to 34 age group and 56% for those aged 35 to 44. Usage then drops significantly to 34% for those aged 45 to 54, 22% for those between 55 and 64 and 20% for those aged 65 to 75.

Most people use GenAI for personal reasons (69%) ahead of professional or work reasons (36%) and for educational purposes (38%).

Of the 67% of users who believe GenAI makes them more productive at work, 44% say they use the technology for writing and editing emails and for looking up information. A total of 42% use it to generate ideas, followed by creating written content (38%), summarising texts and reports (35%), editing (26%), analysing data (25%) and generating images (20%).

When GenAI users were asked if their employer encouraged them to use the technology at work, just 8% strongly agreed with the statement and 16% agreed.

The survey showed that uncertainty around GenAI and its impact on future workforces continues to be a concern with 60% of users worried that it will reduce the number of jobs available in the future and 46% concerned that it will replace some of their role in the workforce.

While they are concerned about the potential impact of GenAI on their future, a significant proportion of users trust the technology. A total of 28% of users said GenAI responses were unbiased and 34% agreed that the technology “always produces accurate responses”.  This is despite well-documented issues with the reliability of the technology.

The survey also showed that a majority of those who are aware of GenAI would be less inclined to trust AI-generated emails (66%) and AI-delivered customer services (63%).

Meanwhile, ChatGPT remains the most popular GenAI tool among people in Ireland having been used by 49% of GenAI users. This is far ahead of similar products such as Snapchat’s ‘My AI’ (15%), Microsoft Copilot (13%) and Google Gemini (12%). The survey took place prior to the release of DeepSeek’s latest AI model.

Emmanuel Adeleke, Deloitte Ireland’s GenAI Leader, said: “Employees in Ireland are racing ahead of their employers when it comes to GenAI. This means gains are being left on the table by employers and innovation is being stymied. We’re seeing the wide range of benefits GenAI creates for our clients in Deloitte, such as improved efficiency and productivity, but our survey shows that the vast majority of organisations do not have GenAI policies in place and they are not actively promoting its use or leading on its adoption even though their employees are increasingly using it to complete everyday tasks. 

“It is vital employers take the lead on the use of GenAI. They need to invest in initiatives and organisational changes that will drive adoption of GenAI tools and identify successful use cases for their organisations. 

“There is a risk in not reacting to the increase in usage, particularly because users are not fully appreciative of the dangers involved as indicated by the level of trust certain users have in GenAI tools, despite well-documented reliability issues. If employers invest properly in GenAI and integrate it correctly, they will uncover the challenges involved and the tremendous potential of this technology.”

He added: “Our survey found that some users are willing to experiment with GenAI, but they are lacking confidence when it comes to knowing how to use it and ultimately find the experience to be unsatisfactory. Organisations can address this through training and support, ensuring employees can use GenAI to meet their needs and transition into more frequent and more confident users. Employers should also consider a tailored approach for GenAI in the workplace that can address the differences in usage among age groups. They can enhance workplace AI tools to boost professional usage, and address age disparities by ensuring that resources and training are accessible to all and building a comprehensive change management strategy to increase the adoption and impact of GenAI tools.”   

Applications now open for Deloitte’s 2024 Fast 50 Awards

Indigenous technology companies can now apply to be part of the 25th annual Deloitte Technology Fast 50 Awards.

The Technology Fast 50 is one of Ireland’s foremost technology awards and a celebration of both innovation and entrepreneurship.

The programme ranks the 50 fastest growing indigenous technology companies based on revenue growth over the last four years.

The list features both private and public listed technology companies that have demonstrated creative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders.

Speaking at the launch of this year’s programme, James Toomey, partner and Fast 50 programme lead at Deloitte, said:

“As we celebrate 25 years of Deloitte’s Technology Fast 50 awards, it is an opportunity to reflect on the extraordinary growth of Ireland’s indigenous technology sector and the ongoing presence and contribution of large tech companies that call Ireland home.”

“Even though there are challenges, Ireland’s indigenous technology sector continues to exhibit robust growth in 2024. Cloud computing, cybersecurity and data analytics are all areas that are rapidly expanding amid increased investment in artificial intelligence and greater reliance on cloud infrastructure.”

“The Deloitte Technology Fast 50 Awards is a performance benchmark for indigenous tech companies and the industry as a whole. I strongly encourage any interested tech company in Ireland to apply.”

This year’s awards programme will include several award categories that companies can enter in addition to the overall ranking.

  • Growing New Technology Award in association with Google: This award recognises a company that has created or introduced a new or innovative product or service to international markets, which helped grow their business over the last four years.
  • Impact Award in association with Meta: This award recognises a company that has made a significant impact within the current year.
  • Women in Technology Advocate Award in association with NetSuite: This award will be presented to an individual who has demonstrated through their actions that they are an advocate for increasing participation by, and promotion of, women in the technology sector.
  • Scale Up Award in association with Scale Ireland: This award recognises a company that has demonstrated an impressive ability to scale up/expand overseas over the last four years.
  • Financial Services Innovation Award in association with Financial Services Ireland: This award recognises a company with an innovative product or service that is having a disruptive impact within the financial services industry.
  • The Rising Star award in association with Enterprise Ireland: This award will recognise a company that has demonstrated a promising growth trajectory and the potential for inclusion in the Fast 50 rankings in years to come. Companies being considered for this award must have operating revenues accounting for a minimum of 2 years and less than 4 years.

2023 rankings

15 of the 50 companies ranked last year were first time winners. Fintech company Swoop, led by Andrea Reynolds, ranked first as the fastest growing technology company, after ranking fourth in 2022. Swoop is a global platform supporting SMEs by bringing their business data into one place to garner insights and instantly match them to eligible finance, as well as assess their spend on cost categories such as energy, banking and FX. Buymedia, led and founded by Fergal O’Connor, ranked fifth in 2023 and eighth in 2022. Buymedia is a data-driven platform that helps companies and agencies plan, manage and buy advertising.

Andrea Reynolds, CEO, Swoop, said: “Ranking in the Fast 50 awards has brought us valuable brand recognition, in particular in the US, as Fast 50 is a globally recognised award. As we continue to grow Swoop, this recognition abroad is incredibly valuable. For the team in Swoop, it’s an opportunity to pause and reflect on how far we’ve come, and this award gives them another boost to keep going.”

Fergal O’Connor, CEO, Buymedia, said: “Fast 50 sticks out to me due to its objectivity, as the rankings are based solely on the growth of the business. Ranking in the Fast 50 has been really helpful when we have been speaking to potential investors.”

Application details and further information about the programme can be found at https://www.deloitte.com/ie/en/Industries/tmt/technology-fast-50-awards.html

The closing date for entries is 27 September 2024 and the winners will be announced at a ceremony in Dublin on 28 November 2024.

Fenergo and Deloitte join forces to deliver greater efficiency through client lifecycle management automation

Fenergo, the leading provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring (TM) and Client Lifecycle Management (CLM), and Deloitte Ireland, have announced an agreement to deliver Fenergo’s AI-powered CLM solutions to financial institutions across EMEA.

The alliance combines Fenergo’s best-in-class technology with Deloitte’s technology-enabled business transformation expertise to create a Centre of Excellence for CLM

The alliance responds to increasing demand for optimised digital client onboarding and the need to drive efficiency across KYC and AML operations. Fenergo’s research has found that slow and inefficient onboarding processes have caused nearly half (48%) of global financial institutions to lose clients. To address this challenge, Fenergo and Deloitte Ireland will deploy AI-powered Software as a Service (SaaS) CLM, which will digitalise client onboarding and lifecycle management journeys, and in turn accelerate the time it takes to generate revenue while enabling firms to better identify and mitigate risk.

“We’re excited to collaborate with Deloitte Ireland to deliver our AI-powered CLM solutions to financial institutions and corporates across EMEA,” said Matt Edwards, Global VP of Partnerships and Alliances, Fenergo. “With the unrelenting evolution of global regulation and the need for firms to simultaneously drive growth, the demand for our CLM solutions has risen exponentially and expanded beyond financial services. With the addition of AI, the transformative power of CLM is even more accessible and rapid. Our alliance agreement with Deloitte will enable us to accelerate implementation while helping firms build a more sustainable and compliant future, while delivering a step change in customer experience.”

“Transforming organisations by using AI is something we’re committed to in Deloitte. Our collaboration with Fenergo and the launch of our Centre of Excellence illustrates our focus on providing innovative technology solutions to our clients that drive competitiveness and efficiency,” said Graham Healy, Consulting Partner, Deloitte Ireland. “We believe our mutual clients will also benefit from our broader expertise across financial advisory, business change and target operating model services.”

Financial institutions will also benefit from Fenergo’s unrivalled Perpetual KYC capabilities which streamline and automate periodic KYC review cycles by continuously monitoring client profiles for risk using real-time data. Firms can also leverage Fenergo to more effectively manage ESG requirements in response to growing demand for sustainable and socially responsible investing.

More than 7 in 10 use their smartphone as soon as they wake up.

New Deloitte research shows that smartphone use is ingrained in our daily lives. A total of 96% of respondents say they own a smartphone, up from 94% last year.

Mobile phones are now the preferred device for browsing shopping websites, making online purchases, online searches, banking and playing games.

The survey also found that about two thirds of adults (67%) wish they spent less time on their devices.

The 67% finding is up significantly from 51% a year ago with 18-34 year olds more likely than any other age group to think they are using their smartphones and other devices too much (82%).

Women are also more likely to want to reduce time spent on their devices with 74% expressing this view compared with 61% of men.

A total of 98% of 18-75 year olds use their smartphone every day, with more than a third doing so during mealtimes and 74% saying they do so as soon as they wake up compared with 59% a year ago.

The survey  shows the percentage of people who check their phone at least 50 times a day remains at 36% while the percentage who check theirs at least 100 times is also unchanged at 16%. Half of respondents (52%) say they tend to stay awake later than planned because they use their devices into the night. The number of people staying awake later than planned is up from 49% last year, and it’s up from 62% to 69% among 18-24 year olds and from 64% to 68% among those aged 25-34.

 While the research shows the majority of people want to use their smartphones and other devices less, some wish they could do more with them when they do use them. 

Just over a third (34%) would like to replace their existing passport with one that is integrated into their smartphone and 33% would like their driving licence integrated. A total of 18% would like to use their smartphone to unlock their house and 17% to unlock their car.

There has been an increase in the number of people who own wearables, such as smartwatches, (50% to 67%), and Smart TVs (66% to 71%) in the last twelve months. One in five respondents (20%) say they have an external security camera or video doorbell, up from 16% a year ago.

More than half of respondents use their smartphone or smartwatch to make in-person mobile payments. Almost two in five (38%) of adults regularly do so and 13% say they do so occasionally.

Apple and Samsung continue to dominate the smartphone market. A total of 37% of adults say they own an Apple phone and 38% own a Samsung phone. Apple remains the most popular brand among 18-34 year olds.

Aside from price, battery life, storage capacity and camera quality are the three most important features for consumers purchasing a smartphone.

 Commenting on the findings of the Deloitte Consumer Trends report, John Kehoe, partner, Consumer & Technology Business audit and assurance group, said:

“These results re-affirm how important the smartphone is in our daily lives and show that it is likely to further consolidate its status as the most successful consumer device. While many people wish they could reduce the extensive amount of time they spend on their smartphones, it is clear that they are the preferred devices for everything from banking to online search, browsing, playing games and shopping. People are now increasingly using their phones to make in-person payments and our survey shows many would also like to use them for identity identification too, which is something that is likely to become possible in the future. The European Parliament and Council of the EU have already started to move towards the adoption of ID technology by reaching final agreement on European Digital Identity Wallets, a move which is now subject to formal approval. If approved, the wallets will serve as a form of national ID card which could be used for both online and offline public and private services across the EU.”

Entertainment

The survey included questions on entertainment. A total of 74% of respondents have access to video streaming services with the average person having more than two. Netflix is still the market leader at 62% and Disney+ continues to grow, up 3 percentage points to 36% compared to 33% in 2022.

Close to a quarter (24%) of respondents cancelled a video streaming service in the last twelve months with the main reason being that it wasn’t used enough (33%), was too expensive (24%) or they need to spend less on subscriptions due to the rising cost of living (23%).

The number of people who resubscribed to a streaming service they had previously cancelled increased from 12% to 16%, but 41% did not change their subscriptions in the current year, a figure that remains consistent with the previous year.

More than a third of subscription holders (36%) say they share access to their accounts between two or more households. The incidence of sharing is most widespread among the youngest age group with 60% of 18-24 year olds sharing an account.

A total of 36% of all adults say they would pay extra to keep sharing a video subscription account if their provider prevented it, but 7 out of 10 say they would not consider taking out a second account at full price. When it comes to paying for streaming services, the majority of respondents (31%) say they would still prefer to pay a full-price subscription with no ads.

Commenting on the entertainment findings, Colm McDonnell, partner and Head of Technology, Media, and Telecommunications, said: “We’re seeing more streaming services explore new payment models for subscribers and our reports finds that while full-price subscriptions and no ads is the most popular payment method for consumers, around 1 in 10 would prefer half-price subscriptions and 5 minutes of ads per hour during each programme or before each programme. At Deloitte, we believe providers are likely to shift from growth at all costs to making it easier for all their subscribers to get enough value for the price they pay. It is likely that providers will start to introduce an increased number of on demand tiers for customers to choose from. This will include options from cheap ad-supported offerings and gated content to premium tiers with instant access. Users may find it harder to wade through the options, but tiering could help them get more of what they want, and less of what they don’t.”

Swoop takes the top spot in the Deloitte 2023 Technology Fast 50 awards

Swoop is the fastest growing technology company in this year’s Deloitte Technology Fast 50 Awards, having risen to first place after placing fourth in last year’s ranking. Swoop is a global platform supporting businesses by bringing their data into one place to garner insights and be instantly matched to eligible finance, as well as assess their spend on cost categories such as energy, banking and FX.

The Deloitte Technology Fast 50 Awards is one of Ireland’s foremost technology award programmes. It is a ranking of the country’s 50 fastest-growing technology companies based on revenue growth over a four-year period, and this year marks 24 years of the programme celebrating innovation and entrepreneurship in Ireland’s indigenous technology sector.

Reacting to the win, Andrea Reynolds, founder and CEO, Swoop said: “Swoop’s triumph in the Deloitte Technology Fast 50 ranking is a testament to our unwavering mission to provide every business access to finance, wherever and whoever they are. This award is not just recognition; it’s a reflection of our team’s relentless spirit and determination to democratise finance. Our incredible growth since 2018 is a marker of our efficient and sustainable approach, with capital efficiency at the heart of all our decisions. Partnering with industry leaders like Sage, Microsoft, NatWest, and Lloyds has fortified our journey. As we celebrate this achievement, our focus remains forward, dedicated to continued growth in 2024 and beyond. Swoop is not just winning awards; we’re pioneering change in the world of business finance.”

Cumulatively, the 2023 Fast 50 winners generated over €3 billion in total annual revenues. The average growth rate of the companies compared to four years ago was 721% and 15 of the 50 ranked companies were first time winners.

The majority of Fast 50 companies have doubled their workforce since 2019, and now employ over 8,800 people across the country. The companies ranked identified finding, hiring and retaining top talent and international expansion as two of the biggest challenges they face trying to grow their company.

Announcing the winners of the Deloitte Technology Fast 50 programme, James Toomey, partner and Fast 50 lead, Deloitte said: “Congratulations to all the companies that ranked this year. The Fast 50 awards are an important and exciting moment for Ireland’s indigenous tech industry to reflect on the growth and challenges they have experienced over the past year. Even though this has been a difficult year for tech companies, there are encouraging indicators in these rankings that show the strength of Ireland’s indigenous sector and that our homegrown talent continues to play an important role in building the future of technology. Supporting this ecosystem is not just an investment in innovation, it’s an investment in our collective progress, and networks like Fast 50 are an ideal opportunity to connect and learn from other companies.

Toomey added, “The majority of the Fast 50 companies have grown their workforce and more than one in five of the companies ranked are new entrants, showing a continued growth in the tech sector and the outreach of Fast 50. M&A is also high on a lot of our Fast 50’s agendas which is supporting them to scale by either taking on investment or acquiring strategic bolt-ons.”

In addition to announcing the ranking of the Fast 50 companies, the Deloitte Technology Fast 50 awards included several award categories. The ‘Rising Star’ award in association with Enterprise Ireland was a new addition, won by Green Rebel, an Irish data company providing site investigation services to the offshore wind sector. It specialises in a full suite of data services from acquisition through processing, interpretation, reporting and delivery across three key divisions: Geophysical, Aerial Ecology and MetOcean.

The winners of the awards this year were:

  • Growing New Technology Award in association with Google

Winner: Brightflag

This award recognises a company that has created or introduced a new or innovative product or service to international markets, which helped grow their business over the last four years.

 

  • Impact Award in association with Meta

Winner: XOCEAN

This award recognises a company that has made a significant impact within the current year.

 

  • Scale up award in association with Scale Ireland 

Winner: Siren

This award recognises a company that has demonstrated an impressive ability to scale up/expand overseas over the last four years.

 

  • Advocate for Women in Technology 

Winner: Laura Haldane, Co-Founder and VP of Sales and Marketing, SciLeads

This award recognises an individual who has demonstrated through their actions that they are an advocate for increasing participation by the promotion of women in the technology sector.

 

  • Rising Star Award in association with Enterprise Ireland 

Winner: Green Rebel

This award is given to a company who demonstrates a promising growth trajectory and the potential for inclusion in the Fast 50 rankings in years to come. Companies being considered for this award have operating revenues accounting for a minimum of two years and less than four years.

 

  • Financial Services Innovation Award in association with Financial Services Ireland 

Winner: ID-Pal

This award recognises a company with an innovative product or services that is having a disruptive impact within the financial services industry.

 

  • Alumni Award 

Winner: Fenergo

This honorary award recognises a company that has played a major part in the Fast 50 Programme to date.

 

The Deloitte Technology Fast 50 ranking features both private and public listed technology companies that have demonstrated innovative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders. Full details on the winners can be found at www.fast50.ie.

Applications now open for Deloitte 2023 Fast 50 Awards

Entries are now open for the 24th annual Deloitte Technology Fast 50 Awards. As one of Ireland’s foremost technology award programmes, the awards rank Ireland’s 50 fastest growing indigenous technology companies based on revenue growth over the last four years, celebrating innovation and entrepreneurship.

The list features both private and public listed technology companies that have demonstrated creative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders.

Speaking at the launch of this year’s programme, James Toomey, partner and Fast 50 programme lead at Deloitte, who is leading the programme for the first time this year, said:

“I’m very excited to be leading the Fast 50 programme this year which showcases the growth of technology businesses in Ireland. This year, tech companies have faced numerous challenges from increased costs to a slowdown in the global economy. Despite this, sentiment in the indigenous sector remains strong. There have been significant market developments propelling the industry forward including the more mainstream use of AI, advancements in cloud computing and Internet of Things.

“Working with technology companies every day on complex transactions, I see first-hand the hard work that goes into building and growing a business. Our annual Fast 50 awards are a fantastic opportunity to recognise some of Ireland’s fastest growing technology companies and establish a benchmark for how the indigenous tech industry is performing.”

David Shanahan, partner, who, since becoming Head of Deloitte Private, has handed over the Fast 50 reins to James, said: “Over my past five years leading Fast 50, it has been exciting to see such an incredible range of successful and innovative Irish technology businesses raising unprecedented levels of funding, scaling overseas and having such a positive impact on the Irish economy and wider society.”

This year’s awards programme will include several award categories that companies can enter in addition to the overall ranking as well as introducing a new “Rising Star” award. The Rising Star award in association with Enterprise Ireland will be awarded to a company who demonstrates a promising growth trajectory and the potential for inclusion in the Fast 50 rankings in years to come. Companies being considered for this award have operating revenues accounting for a minimum of two years and less than four years.

  • Growing New Technology Award in association with Google: This award recognises a company that has created or introduced a new or innovative product or service to international markets, which helped grow their business over the last four years.
  • Impact Award in association with Meta: This award recognises a company that has made a significant impact within the current year.
  • Women in Technology Advocate Award in association with NetSuite: This award will be presented to an individual who has demonstrated through their actions that they are an advocate for increasing participation by, and promotion of, women in the technology sector.
  • Scale Up Award in association with Scale Ireland: This award recognises a company that has demonstrated an impressive ability to scale up/expand overseas over the last four years.
  • Financial Services Innovation Award in association with Financial Services Ireland: This award will recognise a company with an innovative product or services that is having a disruptive impact within the financial services industry.

Last year’s top ten featured seven new entrants to the awards. Fintech company Swoop placed fourth and CEO and Founder Andrea Reynolds was awarded the Advocate for Women in Technology Award. Swoop is a global platform supporting SMEs by bringing their business data into one place to garner insights and be instantly matched to eligible finance, as well as assess their spend on cost categories such as energy, banking and FX.

Full details can be found at deloitte.ie/fast50

The closing date for entries is 6 October 2023 and the winners will be announced at a ceremony in Dublin on 30 November 2023.

 

Over half of Irish adults wish they spent less time on their devices

The smartphone is well and truly ingrained in our daily lives but potentially impacts our social interactions and sleep, a new Deloitte digital trends study has found. Access to smartphones in Ireland remains consistent year on year with 94% of 18–75-year-olds having access to one.

The majority of adults (51%) wish they spent less time on devices, with the 18–34-year-olds being more likely than other age groups to say so (63%). Six in 10 (59%) of us use a smartphone as soon as we wake up, according to the survey. This is highest among 18–34-year-olds (71%) and among women (66% say so compared to 52% of men).

Similarly, half of respondents tend to stay awake later than planned because they are using devices into the night, rising to 62% and 64% of those between 18-24 years old and 25-34 years olds, respectively.  Accessing social media platforms (64%) and instant messaging

(62%) apps remains the top activity for smartphone users – both increasing on 2021 (58% and 61% respectively).

John Kehoe, Audit Partner from Deloitte said: “Over the last two years through the COVID-19 pandemic, technology connected us while we had to stay apart. Technology continues to keep us connected, with smartphone access remaining at 94%, with access to the old reliables such as tablets and laptops, continuing their downward trend – having peaked in 2017.

“36% of respondents check their phone at least 50 times a day, with 16% checking it at least 100 times a day. We can see that the percentage of respondents across all age categories checking their phone at least 50 times a day, increasing since 2021. While, these are great and useful devices, we need to be aware they can have a negative impact on our social interactions and sleep patterns.”

The smart home

The smart home continues to take hold with smart TVs growing to 66%, up from 44% five years ago. Voice assisted speakers have been the largest increase over the same period, up from 3% in 2017 to 32% this year – and 58% of us use them daily. Overall, 88% of respondents now own at least one connected device. Gaming consoles use also continues to grow, up 3% to 41%.

Entertainment

Access to video streaming services subscription is stable at 75%. Netflix is the overwhelming leader in streaming services, used by two in three respondents, followed by Disney+ at 33% and Amazon Prime at 29%. We don’t just use one provider either; in 2019 on average each subscriber had 1.2 subscriptions, this has risen to 2.2 in 2022.

  • The rate at which new subscribers are signing up appears to be falling with only 20% of respondents adding a new subscription in the previous 12 months, down from 25% in 2021.
  • Cancellation rates in the previous 12 months have also increased from 15% to 20%.

“The key driver for cancellation remains the lack of usage, however, as consumers face increasing pressure with the rising cost of living, 2022 seems to indicate a more cost-centric subscriber with cancellation because of the cost of the service, rising from 12% in 2021 to 22% in 2022. Despite the fact cancellation rates are rising, 12% are also resubscribing. This is primarily driven by content with 32% signing up for a new season of their favourite show,”  Kehoe said.

“There has been much coverage around Netflix’s plans to restrict account sharing and looking at their subscription model by introducing ads to lower the monthly fee. Interestingly, 42% of respondents would be interested in ad-based subscriptions, either with advertising covering half or all of the subscription costs. Watch this space as it is one that has real potential for growth,” he added.

Smart devices

Wearable devices continue to rise in popularity with 50% of smartphone owners having access to one. Similar to trends observed in other countries, access to a smart watch has increased (8% growth to 32%), however access to fitness bands has dropped (- 5% to 28%) potentially indicating consumer preferences for more multifunctional wrist devices, such as the smart watch.

  • The age demographics highlights a difference, with smart watches being the clear preference for the 18–34-year-olds and fitness bands being preferred by the 55–75 year olds

  • 55% of those who have a wearable or smart watch monitor their steps, 33% monitor heart rate and 29% monitor their sleeping patterns with women more actively monitoring than men (80% women vs 64% men)

“The smartphone is now the preferred device to browse shopping websites (2021: laptop), making online purchases, for online searches, checking bank balances and gaming (2021: consoles),” Daryl Hanberry, Partner and Head of Technology, Media and Telecommunications at Deloitte said. “For those over 55, the laptop remains the preferred device for most of these activities. The TV remains the preferred device for streaming, watching live TV and using catch up services.“