The tech breakthroughs megatrend

Technology is changing fast, with augmented reality and Blockchain just two of the “Essential Eight” technologies that will impact every industry.

Technology is redrawing the business landscape, and eight technologies in particular are leading this change. These “Essential Eight” – Blockchain, AI, robots, drones, IoT, augmented reality, virtual reality and 3D printing – will have a profound impact on the way businesses operate in the coming years.

What’s more, the cumulative impact of each of the Essential Eight will affect every part of the business, from strategy to operations and compliance. Mastering this changing landscape requires companies to actively engage with these technologies and use them to unlock new value for the business.

The impact of each of these technologies will be different depending on the industry. Business leaders will have to carefully consider how their sector is going to be affected and plot a course to engage with the technologies that have the greatest disruptive potential.

Starting this process involves three key questions for CEOs:

1. Do we have a sustainable innovation strategy and process?
2. Have we quantified the impact of new technologies? If not, how can we do that – and how soon?
3. Do we have an emerging-technologies road map? If so, are we keeping it up to date?

Having answers to these questions is just the beginning, but it can set business leaders on a path that takes them through the tech breakthroughs megatrend and lets them thrive in an increasingly competitive marketplace.