Every year, organizations are keen to know the technology trends that will define their business outcome and growth. In the last edition, we shared some of the technology innovations to expect in 2019. To soar and thrive with technology in 2019, here are some of the things to expect and my recommendations.
What to expect
- Artificial intelligence will open up a new frontier for digital business. This is because virtually every application, service and Internet of Things (IoT) object will incorporate an intelligent aspect to automate or augment application processes and customer experience.
- The way we perceive and interact with technology will undergo a radical transformation. Conversational platforms, augmented reality, virtual reality and mixed reality will provide more natural customer and employee experience within the digital world.
- Open APIs will change the entire financial ecosystem as we know it, from the products and services offered, to the delivery channels used and underlying partnerships that will shape innovation and customer experiences.
What we recommend!
- Orchestrate organizational collaboration efforts to plan, design, build and run digital platforms.
- Develop a fluency in digital ecosystems and digital platforms, using both business and technology perspectives.
- Educate, engage and ideate with senior business leaders about their strategically relevant priorities and where human activities can be automated or augmented.
- Expand information and technology planning beyond the IT department by unifying siloed information and technology planning efforts across the enterprise.
- Engage in a highly collaborative and ongoing information and technology planning process using effective strategic planning
Meanwhile, knowing the right time to deploy a trending technology requires balancing risk and reward based on the maturity of the technology. Hence, business leaders must determine their response to a disruptive, digital technology trend carefully.
So, how do you respond effectively to technology trends?
- The first step is to assess the potential impact of a technology trend on people, businesses, IT departments and the technology market
- Explore specific opportunities to apply the trend in the business, working with an internal or external innovation lab or Technology Service Provider like Simplex
- Develop future scenarios to explore how the technologies underlying the trend could help solve an existing problem or leverage an opportunity
- Ignore a technology trend if it is not applicable to your industry and will not help your organization address current business issues or seize new opportunities in line with the business model and strategy
Share your thoughts!!!
Femi Adeniyi is the CEO/CSA of Simplex Business Solutions