New technologies are stimulant for change, offering companies like Accenture being of extraordinary new capabilities. Distributed ledger technology, artificial intelligence, extended reality, and quantum computing (DARQ) is going to be the next set of new technologies to spark a change, letting companies re-imagine possibilities.
And in this scenario, companies that fail to cope up with the new technologies or innovation might see a downfall of $20 billion in their revenue. Accenture a leading innovator, in its report, has talked about the circumstances that can lead to slow down in the field of innovation. And also described the repercussions of such slow down.
Accenture’s report surveyed approx 8000 companies across 22 countries. The report ranked the companies on the basis of three criteria; technology adoption, depth of technology adoption and cultural readiness. On the basis of this ranking, the report distributed companies into two groups; one consists of “Leaders” which are top 10% and the second group consists of “Laggards” the bottom 25%. The highlighting point is, the companies that are bound to grow in the next five years are likely to be investing heavily in holistic approaches to emerging technologies.
Enterprises are not victims, they’re vectors
While ecosystem-driven business depends on a huge Network creating connections that further increases the risk for new companies. Leading businesses have recognized that. As we can see the best-in-class products, services, and experiences, are being delivered to us.
Basic comparison between leaders and laggards, as identified by the report:
- On one hand, 98% of leaders are adopting artificial intelligence, and on the other hand, only 42% of laggards have adopted such technologies.
- 94% of leaders trust their business data, as they were the first ones to adopt AI-based technologies. And only 64% of laggards trusted their data.
- In the field of cloud computing and serverless computing, 95% of leaders have adopted such technologies compared to 30% of laggards.
- 91% of leaders have become capable of combining IT and business strategies as compared to 41% of laggards.
- 90% of leaders have ensured data quality as compared to 64% of laggards
For growth, the must is to become adaptable according to time. Only then a company can succeed in becoming leaders. These companies are called leader not because they are ahead, but because they have adopted the technologies that will be leading the whole world. In times of AI and IoT, things have become different, the nature of jobs have become different, skill set has changed. A company like accenture needs to keep these things in mind. Now, companies must adapt to the new technologies that have successfully created a next-generation workforce to support a new way of working in the “post-digital” era.