There have been rapid advances in emerging technologies such as artificial intelligence (AI), advanced analytics, cloud and robotics today. These technologies are accelerating the creation of intelligent enterprises. However, capitalizing on growth opportunities while also having a positive impact on society requires a new era of leadership that prioritizes trust and greater responsibility, according to Accenture Technology Vision 2018, the annual technology report from Accenture that predicts key technology trends likely to disrupt business over the next three years.
This year’s report, “Intelligent Enterprise Unleashed: Redefine Your Company Based on the Company You Keep,” focused that enabling companies not just create innovative products and services, but change the way people work and live. This, in turn, is changing companies’ relationships with their customers and business partners.
For instance, Amazon – through not only its tremendous online presence but also its Echo device and AI assistant Alexa – has integrated itself into people’s everyday lives to such an extent that developers are building dedicated Amazon lockers into new apartment complexes and people are granting the company physical access to their homes via its smart lock system to let couriers make deliveries when no one is around.
“Technology is now firmly embedded throughout our everyday lives and is reshaping large parts of society,” said Paul Daugherty, Accenture’s chief technology and innovation officer.
“Just as cities developed around ports and then railroads, or people rebuilt their lives around electricity, the world today is reimagining itself around digital innovation – and, by extension, the companies that provide those services. This requires a new type of relationship, built on trust and the sharing of large amounts of personal information.”
In order to succeed in today’s digital economy, the report lists five emerging technology trends that companies must address to build the partnerships:
1. Understanding AI’s potential: As artificial intelligence (AI) is spreading widely, so are its impacts on everyone’s lives. Businesses aiming to take the advantage of this technology should be aware of its impact and use AI as responsible representatives of their business.
2. Extended reality: As a business owner, one should be aware of virtual and augmented reality technologies and how they are bridging the distance between people, information and experiences.
3. Pay heed to data authenticity: Data is something that present-day businesses are running on. However, they are facing the data vulnerability as well in terms of accuracy, authenticity, and corrupt practices. To be ready for such a challenge, companies must follow a dual mandate to enhance authenticity and reduce incentives for data manipulation.
4. Frictionless Business: If businesses want to leverage themselves with the help of technology-based partnerships, the companies must re-design themselves first.
5. Internet of Thinking: In this era of internet, businesses must use intelligent environments via robotics, AI and immersive experiences to add key skills and modernize current enterprise technology infrastructures.
“Through these new partnerships with customers, employees and business collaborators, companies are building greater trust and further integrating themselves into society, becoming more indispensable and fuelling their own growth,” Daugherty said.
As part of the report, Accenture conducted a survey amongst 6,300 business and IT executives worldwide and highlighted how technology is bridging the gap between companies and the regular lifestyle of people. – CXO Today