The plant of the future needs to bring together next-generation ERP, machine learning, integrated sensors throughout production, augmented reality training, mobile visualization and predictive flow programming, secure networks and cloud-based tools to manage workflow. Not to mention the need to retool workers and cross-pollinate traditional information and operational technology roles and skills. "Interestingly, many of the things that seemed so incredible 10 years ago are now fundamental," says Deloitte in the tenth edition of the Tech Trends study, released this week.
It is truly remarkable how quickly organizations in all industries and regions have navigated through issues such as cloud adoption, cybersecurity, the internet of things, the imminent impact of mobile devices on the business, and user-centric design. A decade ago, many companies were able to gain a competitive advantage by embracing innovations and trends that were already underway. Today, such a reactive approach is no longer enough, the consultant warns. To stay ahead of the game, companies must work methodically to sense new innovations and possibilities, understand their ambitions for the future, and find the confidence to go beyond the digital frontier.
According to study authors Bill Briggs and Scott Buchholz, the full potential of technologies such as cloud and analytics remain largely untapped. Investments in them are often departmental and limited in scope. Similarly, in some companies, analytical, cloud, and digital initiatives are disjointed, even competing for efforts.
Meanwhile, three latest trends - digital reality, cognitive technologies, and blockchain - are rapidly growing in importance. Virtual reality and augmented reality are redefining the fundamental ways humans interact with the environment, data, and each other. Blockchain has rapidly moved from bitcoin enabler to a trusted provider. And as cognitive technologies such as machine learning, RPA, natural language processing, neural networks and AI have moved from fledgeling capabilities to strategy principles, we exploit their deep potential for business and society. These three trends are poised to become as familiar and impactful as the cloud, analytics, and digital experience is today.
Three formative forces have proven to be essential in the pursuit of digital transformation: modernization of core systems to serve as a basis for innovation and growth; elevating cybersecurity and the broader risk domain from a compliance-based activity to an embedded strategic function; and reengineering an organization's technology function to deliver on the promise of emerging and existing technologies - or risk failing in its mission.
So nine forces - digital experience, cloud, analytics, blockchain, cognitive computing, digital reality, Business of Technology, central modernization, and cybersecurity - continue to shape our digital future. And just because they're more particularly young doesn't mean they're not vitally important. In fact, one of the most pressing challenges facing technology and business leaders is how to dig and harness the value these macro forces can collectively offer, the report's authors point out.
They point out that it is important to keep in mind that these nine macro forces are just ingredients of a much larger enterprise technology recipe. As with many good recipes, measurements need not be accurate and can be tailored to meet specific needs. But the point of this particular recipe is that macroeconomic forces must come together in a manufacturing line, accounts payable process, or a new way to engage loyal customers. Its collision can unleash vast possibilities. Deploying them individually at this point in the digital revolution is no longer a recipe for success. "In all industries, we are seeing how macroeconomic forces, working together, are driving digital transformation and generating new strategic and operational opportunities,"
Through their collision and unleashed innovation, these forces are likely to dominate IT, business, and corporate markets to an even greater extent than individual technologies. With macro forces, it is a controlled collision that leads beyond the digital boundary.
The nine macro forces are the enduring technological trends that will continue to shape strategies and dominate investment priorities. But consider that they are not independent and isolated entities. The call to CIOs and IT leaders is to reveal which combination is important for any line of business, function, agency or country; confidently chart a path beyond convention and organizational inertia; and raise the narrative from that of enabling technology to that of the combined effects - going beyond the trends and beyond the digital frontier.
Emerging technology trends may seem illusory and ephemeral, but some become an integral part of a business and IT strategies - and form the backbone of tomorrow's technological innovation.
Reaching the full potential of artificial intelligence
The journey to fully autonomous artificial intelligence is part of a growing trend toward companies becoming AI-powered organizations where AI is an integral component of corporate strategy. This trend also refers to an ongoing commitment to redesign key business systems, processes, and strategies around AI and their possibilities. Its ultimate goal: an organization in which humans and machines work together on digital systems designed to harness data-driven insights.
The number of companies following in the footsteps of AI pioneers is likely to increase over the next 18 to 24 months, as more leaders identify ways to use cognitive technologies to achieve strategic goals. In two consecutive global Deloitte surveys (2016–17 and 2018), cognitive technologies and AI topped the list of emerging technologies in which CIOs planned to invest. Its ambitions are based on practical (and achievable) benefits: AI can increase productivity, strengthen regulatory compliance through automation, and help organizations derive meaning from ever-larger data sets.
It is truly remarkable how quickly organizations in all industries and regions have navigated through issues such as cloud adoption, cybersecurity, the internet of things, the imminent impact of mobile devices on the business, and user-centric design. A decade ago, many companies were able to gain a competitive advantage by embracing innovations and trends that were already underway. Today, such a reactive approach is no longer enough, the consultant warns. To stay ahead of the game, companies must work methodically to sense new innovations and possibilities, understand their ambitions for the future, and find the confidence to go beyond the digital frontier.
According to study authors Bill Briggs and Scott Buchholz, the full potential of technologies such as cloud and analytics remain largely untapped. Investments in them are often departmental and limited in scope. Similarly, in some companies, analytical, cloud, and digital initiatives are disjointed, even competing for efforts.
Meanwhile, three latest trends - digital reality, cognitive technologies, and blockchain - are rapidly growing in importance. Virtual reality and augmented reality are redefining the fundamental ways humans interact with the environment, data, and each other. Blockchain has rapidly moved from bitcoin enabler to a trusted provider. And as cognitive technologies such as machine learning, RPA, natural language processing, neural networks and AI have moved from fledgeling capabilities to strategy principles, we exploit their deep potential for business and society. These three trends are poised to become as familiar and impactful as the cloud, analytics, and digital experience is today.
Three formative forces have proven to be essential in the pursuit of digital transformation: modernization of core systems to serve as a basis for innovation and growth; elevating cybersecurity and the broader risk domain from a compliance-based activity to an embedded strategic function; and reengineering an organization's technology function to deliver on the promise of emerging and existing technologies - or risk failing in its mission.
So nine forces - digital experience, cloud, analytics, blockchain, cognitive computing, digital reality, Business of Technology, central modernization, and cybersecurity - continue to shape our digital future. And just because they're more particularly young doesn't mean they're not vitally important. In fact, one of the most pressing challenges facing technology and business leaders is how to dig and harness the value these macro forces can collectively offer, the report's authors point out.
They point out that it is important to keep in mind that these nine macro forces are just ingredients of a much larger enterprise technology recipe. As with many good recipes, measurements need not be accurate and can be tailored to meet specific needs. But the point of this particular recipe is that macroeconomic forces must come together in a manufacturing line, accounts payable process, or a new way to engage loyal customers. Its collision can unleash vast possibilities. Deploying them individually at this point in the digital revolution is no longer a recipe for success. "In all industries, we are seeing how macroeconomic forces, working together, are driving digital transformation and generating new strategic and operational opportunities,"
Through their collision and unleashed innovation, these forces are likely to dominate IT, business, and corporate markets to an even greater extent than individual technologies. With macro forces, it is a controlled collision that leads beyond the digital boundary.
The nine macro forces are the enduring technological trends that will continue to shape strategies and dominate investment priorities. But consider that they are not independent and isolated entities. The call to CIOs and IT leaders is to reveal which combination is important for any line of business, function, agency or country; confidently chart a path beyond convention and organizational inertia; and raise the narrative from that of enabling technology to that of the combined effects - going beyond the trends and beyond the digital frontier.
Emerging technology trends may seem illusory and ephemeral, but some become an integral part of a business and IT strategies - and form the backbone of tomorrow's technological innovation.
Reaching the full potential of artificial intelligence
The journey to fully autonomous artificial intelligence is part of a growing trend toward companies becoming AI-powered organizations where AI is an integral component of corporate strategy. This trend also refers to an ongoing commitment to redesign key business systems, processes, and strategies around AI and their possibilities. Its ultimate goal: an organization in which humans and machines work together on digital systems designed to harness data-driven insights.
The number of companies following in the footsteps of AI pioneers is likely to increase over the next 18 to 24 months, as more leaders identify ways to use cognitive technologies to achieve strategic goals. In two consecutive global Deloitte surveys (2016–17 and 2018), cognitive technologies and AI topped the list of emerging technologies in which CIOs planned to invest. Its ambitions are based on practical (and achievable) benefits: AI can increase productivity, strengthen regulatory compliance through automation, and help organizations derive meaning from ever-larger data sets.
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