A recent KPMG global technology industry innovation survey captured the opinion of 750 global tech industry leaders in identifying the technologies that will have the greatest impact in driving change in the next three years. IoT, Artificial Intelligence and Robotics were clearly identified as the leaders.
Internet of Things: 17% of the global respondents identified IoT as the top game changer in driving the business transformation. According to IDC, IoT spending will be nearly US$ 1.1 trillion by 2021. “The providers of IoT are maturing and moving towards full-blown platforms that are now getting bundled with cloud,” says the KPMG report. Improved business efficiencies, increased profitability, cost reductions are the top benefits of IoT. However, there are security risks associated with the technology to be addressed.
Artificial Intelligence: With 13% respondents posing their faith in Artificial Intelligence, it ranks second on the chart. Countries like US,, Japan, China, India and UK have unleashed a major AI strategy to dominate the field. “eCommerce platforms of Amazon and Alibaba are great examples of digital-first companies leading in AI innovations,” mentions the report. Worldwide spending on cognitive and AI systems will touch US$ 52.2 billion in 2021.
Robotics: By enabling enhanced dexterity, intelligence, and sensors, Robotics is the third most liked technology game changer in KPMG’s survey with 10% of respondents posing their faith in it. IDC predicts a total of US$ 218.4 billion on robotics and drones by 2021. With an increased demand for professional, personal, and domestic use, the service reports will be greater than the industrial robots. Usage in autonomous aircraft navigation, data acquisition, and analysis solutions for a variety of industrial applications and robotic-assisted surgical systems are in great use.
Apart from IoT, AI, and Robotics, Blockchain is also on the charts as a top disruptor of business. One in three of the global tech industry leaders predicts blockchain will likely upturn their companies. “Some are comparing blockchain technologies with the impact of the Internet two decades ago. Processes like KYC (know your customer) can benefit from Blockchain.