Top 10 technologies for business transformation

Insight on the latest disruptive technologies for company executives and VC investors

 

 

 

 

 

 

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We are pleased to announce the top 10 technologies for business transformation publication, which includes global perspectives from more than 740 leaders (76 percent C-Suite) and 600 Millennials working in the technology industry.

Highlights

  • Internet of Things (IoT) was again ranked by industry leaders as the top driver of business transformation over the next three years. Millennials ranked IoT second.

  • Robotic process automation (RPA) was the biggest gainer in this year’s survey of industry leaders. RPA improved from ninth to second place in the rankings.

  • Blockchain showed the next largest jump, rising from seventh place to tied for fourth.

  • Artificial intelligence maintained its strong position, placing third in this year’s survey. 



Benefits and challenges

Industry leaders most frequently cited the bottom line impacts of “improved business efficiencies”, “increased profitability”, and “cost reductions” as the top benefits of adopting transformational technologies. This implies that they are uncertain about how new technologies can transform their business models to grow revenue and market share, and are instead more focused on leveraging them to take costs out of their business. This point is reinforced by the fact that “unproven business case” was the top cited challenge with adopting new technologies.  

However, the technology industry appears to be ahead of the curve in implementing transformational technologies. In another KPMG survey, technology industry CIOs reported they are outpacing other industries with their investment in transformational technologies.

 

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Percentage of CIOs reporting moderate/significant investment in transformational technologies

Source: Harvey Nash/KPMG CIO survey 2018
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The millennial perspective

Millennials have essentially grown up with much of today’s technology. They represent a growing segment of the global workforce and are increasingly making and influencing B2B buying decisions. We asked millennials about the technologies they believe will drive the greatest business transformation over the next three years. While their rankings similarly show AI, IoT, and RPA near the top, other selections like 5G, social networking, digital payments, and mega platforms illustrate millennials’ proclivity to the wireless and digital world they’ve always known.

 

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