New research: The challenge of keeping pace with emerging technologies
- Posted on June 12, 2019
- Estimated reading time 3 minutes
To support our latest research program called Avanade Trendlines, I’d like to share some of the initial findings about specific technologies that we’re exploring.
Of the emerging technologies like blockchain, quantum computing and immersive experiences, more than 50% of senior executives are planning to integrate the tech within the next three years. What they are less certain about is how to master those technologies and if they have the right people and capabilities in place to do so.
Avanade and Wakefield Research surveyed 1,200 executives and found that 24% of organizations are already adopting blockchain and 47% are conducting trials for immersive experiences. But while there is a sense of moving full steam ahead, executives see a lack of talent as their biggest roadblock. Across all the technologies studied, lack of specialized talent was cited consistently as a top concern.
Better together: Implement in combination for maximum benefit
One of our key findings is that these technologies are more interdependent and thus more challenging to adopt than the technologies of a few years ago like social, mobile and analytics. We also found that to get the maximum benefit, the technologies must be implemented in combination. For example, most see blockchain being used in combination with IoT and AI.
- Talent: You need the right talent and expertise to evaluate emerging technologies. That may mean looking inside your organization. DBS Bank in Singapore focused on retraining its talent to facilitate its business transformation, cultivating its people to embrace startup qualities for customer focus, data-driven decision-making and continual learning.
- Experiment: You can jump right in, but make sure you can support the notion of test and learn. Researchers at MIT Center for Information Systems Research recommend creating a portfolio of experiments to maximize learning.
- Strategy: Don't look at any of the emerging technologies in a vacuum. Develop a holistic, connected strategy that will generate maximum benefit. A common concern cited in our survey was uncertainty about having the right strategy and vision. Trusted partners can help you think through the best approach for your business.
So what do we recommend?
Dig deeper into emerging technologies
Over the next few months, more in-depth perspectives will be published. Stay connected by
- Reading the Avanade Trendlines executive summary and our report on how to take action on digital ethics.
- Subscribing to our Avanade Insight Blog to get the latest on new research once it gets published.
- Joining the conversation and sharing your thoughts in the comments below, on LinkedIn and Twitter.