How can you identify emerging technologies that benefit your organization?

Our retail company implemented an ITSM tool to digitize its IT and Business processes. The system generates service tickets, which are directed to specific resolving groups. This solution model has a high maintenance cost. The company intends to adopt ChatBot technology to reduce these costs. ChatBot allows users to use services and products independently and quickly, without the need for a first human or technological interaction. The company intends to reach three major levels of maturity with the adoption of ChatBot: 1. Improvement of conversational flow (questions + answers) 2. Search in Databases/Knowledge distributed by the company. 3. AI Gen.

To identify beneficial emerging technologies, define organizational objectives first. For instance, in healthcare, if the goal is improved patient care, explore AI in diagnostics. In financial services, enhancing security might lead to blockchain adoption. Aligning technology exploration with specific objectives ensures a strategic approach, enabling organizations to invest in innovations that directly contribute to their goals and competitive advantages.

?? Before exploring new technologies, clearly define your objectives. Identify the main challenges or opportunities your organization or clients face, assess current IT solution gaps, and pinpoint desired outcomes or benefits. This clarity helps focus your search on technologies that specifically address your needs.

Define some metrics to empower your gap analysis. SWOT is a strong start that will enable you to start putting measurables on actual performance versus desired performance. With those numbers and goals clearly defined, establish a budget, investigate tools, and build a matrix for measuring how well the tools match your criteria.

By combining proactive scanning, collaborative efforts, and a strategic approach to technology integration, we can effectively identify and leverage emerging technologies to gain a competitive edge: 1. Establish a systematic process for monitoring industry trends 2. Implement small-scale pilot programs to test the feasibility 3. Foster collaboration between different departments 4. Build relationships with experts in the industry 5. Actively engage in technology scouting activities 6. Regularly benchmark against industry leaders and competitors 7. Utilize data analytics tools to analyze trends and patterns Identifying emerging technologies that align with organization's goals is vital for staying competitive in the long term.

?? To identify emerging technologies, actively scan the environment and monitor various information sources. Read industry reports, attend webinars and events, follow influencers on social media, join relevant networks and communities, and explore online platforms. Additionally, consider blogs, newsletters, podcasts, magazines, workshops, forums, and directories that review new technologies. These methods keep you informed about the latest IT developments and trends, offering insights from experts and peers.

One of the major challenges in digital transformation, especially for SMEs, is to identify the potential of new technologies, evaluate the possible use cases within the company and adapt the results into a business case. In this regard, a procedure model was presented by Rieke and Klasen (2019) at a symposium of the German Informatics Society. As part of my bachelor's thesis, I analyzed the practicability of this model prototypically using the example of augmented reality in the field of remote support. In my opinion, adopting this procedure model offers SMEs the opportunity to embrace digital transformation and ensure competitive advantages through the adaption of technological innovations in an iterative process.

You may identify emerging technologies from the most unlikely of places. Often I've come across wildly innovative ideas and technology coming out of necessity in Africa, like SMS banking. I've found talking to people is also a great source of finding out about what people are using to solve their problems. I've come across quite a few excellent e-commerce platforms this way. People are far more resourceful than we expect them to be.

I see that opening your organization's eyes systematically is the first step. I would use internal surveys to understand the perspective of each layer of the organization on innovation, for example, structuring questions that guide employees helps a lot. After this evaluation, visiting the market, other organizations and partners will make your connection make sense. I see that in many cases you only use what is fashionable but not what your organization needs! Let's think about it! I hope I've helped.

The need to innovate comes from necessity. It depends on the environment that you're in but once you get that idea, research it, talk with your coworkers, and see what steps you can take to bring it to life!

?? When evaluating promising technologies, assess their relevance, value, feasibility, risks, and supporting evidence relative to your objectives. Determine how well each technology aligns with your goals and addresses challenges or opportunities. Consider potential risks or drawbacks of adopting or not adopting each technology. Seek evidence or proof validating the technology's claims and benefits. This comprehensive evaluation aids in making informed decisions about technology adoption.

Once the selection has been made on the specific software or FinTech to implement, design a roadmap for implementation with achievable milestones. If you have decided for a FinTech solution that homes different cadencies, evaluate what are the risks and opportunities associated with each module: "what makes sense to implement first" kind of guidance. BlackLine and Oracle for instance, offers different modules that work together from journal entries, transaction matching, account reconciliations to reporting and even variance analysis.

Meet with your stakeholders and understand their pain points. The more you learn about what they want and need to achieve success, the quicker you can find or build a solution to reach the goal. Be curious and caring.

In my experience, evaluating the potential of emerging technologies involves a holistic approach. It's crucial to assess how a technology aligns with our current objectives as well as consider its long-term scalability and integration capabilities. For instance, when we considered implementing a new data analytics tool, we not only looked at its immediate impact on our workflow but also its adaptability to future AI advancements. It's essential to weigh the technology's potential against the risks and to seek evidence-based outcomes from similar implementations. Engaging with industry peers and experts for their insights such as hired consultants can be particularly valuable.

Digital technology is the latest in the process of homogenizing information and closely related data with new and emerging updates that meet the needs of projects in their various dimensions.

Identifying beneficial emerging technologies involves adopting a proactive stance. Regularly monitor industry trends and evaluate technologies that align with organizational needs. For instance, in manufacturing, integrating IoT sensors for predictive maintenance can optimize operations. The key is to adapt swiftly, ensuring that the chosen technologies align with business objectives, enhancing efficiency, and maintaining a competitive edge.

?? After selecting the best technologies, plan their adoption and adaptation. Define scope, timeline, budget, resources, and roles for implementation. Test in real or simulated scenarios, collecting feedback and data. Identify improvement areas and adjust accordingly. Finally, roll out the technology on a wider scale, monitoring outcomes. This systematic approach ensures beneficial technology integration for your organization and clients, keeping you ahead in IT consulting.

One thing I've found helpful is to be considerate of end users. Change management always comes with its own challenges and resilience. Don't overwhelm your end users with too much change in a short period of time. Plan accordingly how to phase out the implementation, SIT and UAT followed by the rollout or go live. I worked in a retail company that implemented 6 cadencies within a short period of time. The implementation, although successful, burnt out many employees and there was a high turnover of people in the Accounting and Finance team. Don't be too aggressive or presumptuous on this phase, the deployment in change management is stressful to end users as it is, try to make it smoother and listen to feedback for adjustments.

I've found the following strategies helpful in adopting and adapting new technologies: sandboxing and soft-launching prior to going all out. Before a full-scale implementation, we conduct small, controlled pilot tests. These tests allow us to assess the technology's fit within our existing ecosystem and to understand the necessary adjustments for a broader rollout. For example, when integrating a cloud-based project management tool, we first tested it within a single department. This approach helped us gather real-world feedback and tweak the system for optimal performance before expanding its use across the organization. Regularly updating the technology roadmap and staying flexible to changes are key in this phase.

The most important part of this is to fully commit. Of course you can't make the old system obsolete over night, but alot of people like to stick to what is comfortable. Pushing yourself and your team to switch over to new technologies is vital in being able to fully adopt it.

The correct order of technology research and implementation in any digital transformation is as follows: People then Processes then Technology

?? In the context of IT consulting, sharing success stories of technology adoption can be insightful. Examples where technology significantly improved efficiency, solved complex problems, or created new opportunities offer practical insights. Highlighting the challenges encountered and how they were overcome can also be educational. These narratives not only demonstrate the value of staying abreast with emerging technologies but also provide real-world examples of their transformative impact.

Monitoring industry trends, attending conferences, and engaging with relevant online communities can help identify emerging technologies. Collaborating with experts, conducting regular technology assessments, and staying informed through reputable sources are also effective strategies.

Sometimes it is better to end something. If that doesn't work, then it is wise to see if it can be done smarter. Only then is the step to automate it.

Emerging tech doesn't always have to be something cutting edge and sci-fi like...it can also be a new way to deploy something existing or a new nexus of pre-existing tech (AI powered everything is a good example of this). Keeping that in mind can also help identifying new ways to extract value for your org.