Here's eight technologies that will have the most influence on businesses globally in the close future, a PwC report reveals.
The recent report, Tech breakthroughs megatrend, looked at over 150 technologies around the world and narrowed down the 'essential eight' that PwC has concluded will have the biggest impact on business in the not to distant future.
• Artificial intelligence
• Internet of Things
• Augmented reality
• Virtual reality
• 3D printing
“Most of these technologies are already being used in some capacity to solve customer problems and improve the customer experience,” says Andy Symons, PwC’s financial services and innovation leader.
“Now’s the time for more companies to take a broader view of how these technologies can help them deliver services that previously were not even considered.
“I believe that a culture shift is needed around how we adopt new technology. We must commit to making the time and space for innovation within our organisations. Exploring options and considering low-cost, low commitment projects that we can either adopt or abandon quickly is the recipe for success in this day and age,” says Symons.
To decide the top eight, PwC filtered technologies based on business impact and commercial viability over the next five to seven years (as little as three to five years in developed economies). Criteria included a technology’s relevance to companies and industries; global reach; technical viability, including the potential to become mainstream; market size and growth potential; and the pace of public and private investment.
PwC’s report pointed out that executives can't treat the Essential Eight technologies as a sort of checklist to delegate to the CIO or CTO. Instead it suggests the focus be on planning for them and making them a core part of the company's corporate strategy.