Being Future Ready: Disruptive Technologies
by Ken Neal
June 15, 2017
This is the second in a series of posts looking at key ways your business can be “future ready:” on pace to compete in today’s competitive business environment and its future course. This column shares insights on how accelerating technological innovation is disrupting established business principles within companies and across industries. One result is that businesses are moving toward a radically different future environment. With this in mind, I will spotlight six findings based on our report, “Leading a Future Ready Business: Vision 2025, Disruptive Technologies.” We recently released the report in association with Hanover Research.
One of the pressing challenges of today’s business environment is that, in order to compete and grow, enterprises must adapt to technical innovations. The potential of cloud computing, mobile internet, analytics, Robotic Process Automation (RPA), the Internet of Things (IoT), 3D Print and other emerging technologies are reshaping markets and established organizations. Business leaders have to implement change continuously in order to keep up with competitors that are rapidly adopting these new approaches. Failure to do so could be catastrophic for any industry incumbent. Taking a closer look at this scenario, here are six key findings from our report:
- The most susceptible to disruption over the next decade will be technology products and services, media and entertainment, retail, financial services, and telecommunications.
- U.S. technology leaders predict data and analytics, cloud computing and cyber security will disrupt company operations the most in the next three years.
- The cloud will break down the silos between internal company operations, suppliers and customers. But, cybersecurity professionals are either “moderately” or “very” concerned about cloud security.
- Eighty four percent of U.S. executives agree that mobile technology is central to their company’s ability to become a digital business. And, 90 percent of surveyed businesses are either implementing or planning to implement mobile work styles over the next five years.
- RPA is emerging as a tool to automate business processes. However, RPA does not have the same disruptive power as cloud, mobile and analytics technologies.
- IoT technology will grow rapidly with estimates of the potential economic impact at $4 trillion to $11 trillion annually by 2025.
Disruptive technologies covered in our report include: cloud computing; mobile internet; big data, platforms and analytics; RPA and cognitive computing; the Internet of Things; three-dimensional printing; social media and other notable disruptive technologies. To learn more, visit the Insights section of our website to download the report.
Additionally, feel free to visit the Business Process Outsourcing Services page of our website to find out more about the comprehensive range of managed services and technology that we can deliver in order to help organizations contain costs, mitigate risk, achieve operational excellence and meet other business goals.