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DIGITAL TECHNOLOGY TRENDS THAT AFFECT STRATEGY

by CIO AXIS

It is clear that digital technologies will remain a major driver of business innovation for the foreseeable future. Businesses that adopt the right trends— innovate around them and/or integrate them into the fabric of their operations—are more likely to strengthen their competitive advantage and prosper. Those that don’t, won’t. Today’s digital trends are most likely to deliver business value including guidance on “How to Take It Forward”.

Ranked in order of value, the following trends were seen as most significant in terms of their potential for the majority of organizations. They deliver significant value to the vast majority of enterprises. These include Big Data Analytics , Mobile technologies , Cloud computing, Machine Learning , Internet of Things , Massive Open Online Courses ,Social Networking, Digital Business Models, Cybersecurity & Digital Currency. These top 10 emerging digital technology trends and the business innovation are most likely to affect business strategy.

Not every sector of industry will be impacted by every trend in equal measure. Some sectors have unique aspects that influence how trends can be used and, thus, make trends more or less valuable. A uniquely credible approach using a proprietary methodology to assess emerging trends based on the value (weighing a combination of benefit/risk/cost) is most essential for businesses. To be noted, sector wise some trends are replaced by another. Like in the financial services sector Cybersecurity and Mobile technologies are removed due to faster adoption. Digital Currency is removed as it scored too low. And in their place appeared Business/IT Integration,  Digital Payments, and  Consumerization of IT. Machine Learning and Internet of Things are “Embrace” rather than “Wait” recommendation.

It is high time to discuss on the potential need to adjust strategy to realize the potential of new and disruptive technology when evaluating strategy relative to new digital trends.

 

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