"However, the study also helped highlight that, although 96 percent of respondents believe digital technologies to be important to Europe’s competitiveness, business leaders fear Europe will struggle to compete with other major economies. While 51 percent think Europe is ahead of China in the development and use of digital today, only 30 percent believe this will be the case in three years. Additionally, 61 percent believe that Europe lags the U.S. today, and more than half (53 percent) expect this to be the case in 2017."
Even more relevant:
"62 percent of respondents believe that digital will result in major change or a complete transformation of business models in their industry in the next 12 months, and almost two-thirds (63 percent) are concerned they will lose customers to competitors if they do not embrace technology in that timeframe. Nevertheless, the focus of their digital investments is on driving efficiencies (60 percent), instead of using digital technologies to transform products and services (40 percent)."