According to David Cearley, Vice President and Gartner Fellow, “The continuing digital business evolution exploit new digital models to align more closely with the physical and digital worlds for employees, partners, and customers.” He adds further, “Technology will be embedded in everything in the digital business of the future.”
Emerging technologies have a significant potential to disrupt various industries at scale. CIOs and executives know that this is the time to invest in such technologies to grow their business and stay competitive. But it is difficult to gauge the value and impact of the technology for a specific business or industry until it is put to work.
To avoid the guesswork, it is useful to examine various technology trends derived from thorough research conducted by leading analysts and technology companies.
Let’s look at the business impact of some key technology trends.
1. Blockchain:
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don & Alex Tapscott, authors Blockchain Revolution (2016)
Today, more than 300 million transactions later, assets worth more than $270 billion are being managed by this distributed ledger technology. But as per the findings from leading industry analyst Gartner, the state of blockchain adoption and deployment is massively hyped.
According to the 2018 Gartner CIO Survey, only 1 percent of CIOs reported that they have implemented blockchain technology, and only 8 percent of CIOs were in short-term planning or active experimentation with blockchain.
The PwC’ 2017 Global Digital IQ survey shows some interesting insights on how the adoption of blockchain compares with other emerging technologies.
Only 3% of the respondents are making a substantial investment in Blockchain, and that is the least compared to the other technologies.
The study further breaks down the blockchain investment by industry.
Hospitality and leisure firms under gaming and sports category, commercial banks, capital markets and asset management firms are the top investors in blockchain technology. They expect to achieve reduced risks, fraud and operational costs for various transactions and record keeping.
Though blockchain has broader potential, it is perceived as disruptive mainly for the financial industry, considering its implication for various operations such as cross-border payments, smart contracts, and online identity management.
However, the adoption of the technology is still far from the mainstream in financial services as it currently does not have adequate scalability, performance tracking mechanisms, operational flexibility and manageability and wider functional scope.
Read more...
Source: Nividous
Emerging technologies have a significant potential to disrupt various industries at scale. CIOs and executives know that this is the time to invest in such technologies to grow their business and stay competitive. But it is difficult to gauge the value and impact of the technology for a specific business or industry until it is put to work.
To avoid the guesswork, it is useful to examine various technology trends derived from thorough research conducted by leading analysts and technology companies.
Let’s look at the business impact of some key technology trends.
1. Blockchain:
“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Don & Alex Tapscott, authors Blockchain Revolution (2016)
Today, more than 300 million transactions later, assets worth more than $270 billion are being managed by this distributed ledger technology. But as per the findings from leading industry analyst Gartner, the state of blockchain adoption and deployment is massively hyped.
According to the 2018 Gartner CIO Survey, only 1 percent of CIOs reported that they have implemented blockchain technology, and only 8 percent of CIOs were in short-term planning or active experimentation with blockchain.
The PwC’ 2017 Global Digital IQ survey shows some interesting insights on how the adoption of blockchain compares with other emerging technologies.
Only 3% of the respondents are making a substantial investment in Blockchain, and that is the least compared to the other technologies.
The study further breaks down the blockchain investment by industry.
Hospitality and leisure firms under gaming and sports category, commercial banks, capital markets and asset management firms are the top investors in blockchain technology. They expect to achieve reduced risks, fraud and operational costs for various transactions and record keeping.
Though blockchain has broader potential, it is perceived as disruptive mainly for the financial industry, considering its implication for various operations such as cross-border payments, smart contracts, and online identity management.
However, the adoption of the technology is still far from the mainstream in financial services as it currently does not have adequate scalability, performance tracking mechanisms, operational flexibility and manageability and wider functional scope.
Read more...
Source: Nividous