The ESG imperative for technology companies
As the world recovers from COVID-19, technology companies will be asked to report their performance through an ESG lens.
Global Technology Innovation Center
Insights on the many different aspects of technology innovation
The future of HR in the technology sector
- Technology company leaders and workers are generally optimistic about the impact AI will have on job creation, with HR executives being the exception.
- Technology company CEOs acknowledge that the effectiveness of certain key teams remains less-than-optimal, but many still do not have broad reskilling initiatives planned.
- Almost 70 percent of tech company HR executives recognize the need for workforce transformation but only 50 percent have a plan in place.
- Capacity, culture, and capability are considered the top barriers to workforce transformation.
- Millennials are the most optimistic on the impact transformative technologies will have on developing an inclusive and diverse workforce over the next three years.
Anticipated impact of artificial intelligence on technology compaines' workforces
1 KPMG Future of HR 2019
2 KPMG Technology Industry Millennials Survey 2019
3 KPMG Technology Industry Innovation Survey 2019
Investment in technology innovation
- Tech companies are indeed investing in technologies they believe to be transformative.
- Internet of Things (IoT) is the top technology that tech companies are investing in today and plan to continue investing in three years from now.
- Forty-four percent of tech company leaders expect significant return on investment (ROI) within the first six months of implementing an innovative technology, and 71 percent expect it within the first year.
- A significant number of large tech enterprises (40%) show very conservative investment (<$10 million annually) in innovation driven by emerging technologies.
- By following a new model of dynamic investing, tech companies could achieve faster pivots on technology bets and more quickly capitalize on innovation opportunities.
Timing to achieve significant ROI on innovative technologies
Source: KPMG Technology Industry Innovation Survey, 2019
Likelihood your company will implement blockchain technology in the next three years
Source: KPMG Technology Industry Innovation Survey, 2019
Blockchain for technology companies
- 15 percent of global technology company CIOs report they have already made moderate or significant investment in blockchain technology.
- 41 percent of global technology industry leaders expect to implement blockchain technology in the next three years.
- Almost half (48 percent) believe it is likely that blockchain will change the way their company does business in the next three years.
- The greatest disruption resulting from blockchain is anticipated to take place in the area of IoT processes (tracking upgrades, product refills, warranties, etc.).
