SURVIVING DIGITAL DISRUPTION

Surviving Digital Disruption

Just as the steam engine and electrification revolutionized entire sectors of the economy from the 18th century onward, so the Internet, robotics, artificial intelligence (AI) and data analytics are beginning to dramatically alter today’s industries.

The pace of technological change is accelerating. It’s been frequently observed that improvements in computing power have largely kept pace with Moore’s Law. The plummeting cost of advanced technologies means that the world around us is becoming ever more connected. In 2005, there were just 500 million devices connected to the Internet; today there are 8 billion. By 2030, it’s estimated that there will be 1 trillion.

There are five technology trends that business leaders should base their thinking on, as they contemplate how best to digitally transform their company.

Five key technology trends

Accenture Technology Vision highlights five emerging technology trends shaping the new digital landscape.

Technology is an integral part of an organization and its strategy, but these trends reflect the fact that it is people who underpin success in a world that continues to reinvent itself at an unprecedented speed.

Tomorrow’s leaders are taking these trends on board and executing strategies to secure a clear digital advantage.

1. The Internet of me: Through the personalization of apps and services, the third wave of the Internet is placing users at the center of every digital experience.

2. Outcome economy: As sensors and connectivity become ubiquitous in a growing number of environments, enterprises have an increasing ability to measure the outcomes of the services they deliver. Business models that sell results appeal to customers far more than those that just sell products.

3. The Platform (r) evolution: Rapid advances in cloud and mobile connectivity are dismantling the technological barriers and reducing the costs associated with establishing global platforms. These platforms offer huge potential for innovation and the delivery of next-generation services. In fact, as research by the MIT Sloan School of Management shows, 14 out of the top 30 brands by market capitalization in 2013 were platform-oriented companies.

4. The intelligent enterprise: Advances in data science, cognitive technology and processing power have combined to open up the possibility of ‘intelligent enterprises’, built around smart machines and software intelligence. By turning big data into smart data, firms can achieve higher levels of operational efficiency and innovation.

5. Workforce re-imagined: The digital economy is creating ever-greater demand for machines and humans to work together effectively. Advances in wearable devices, natural interfaces and smart machines are opening up new opportunities to empower human talent through technology.

Source: Accenture Technology Vision