Tech’s Indelible Impact on Society

By Dennis McCafferty  |  Posted 09-28-2015 Email

A significant share of Americans feel that digital companies are gaining so much power that they'll eventually get regulated just as utilities are today, according to a recent survey from Vrge Strategies. The findings cover an interesting mix of digital-age perspectives: Many respondents predict that a large number of current Fortune 500 companies will no longer exist in 15 years, due to the rising presence of disruptive upstarts. They also believe that the tech industry as a whole is shifting its moral compass, now focusing on accommodating the rich instead of trying to bridge gaps among income classes. In terms of which particular innovations will emerge as the biggest impact-makers over the next 10 years, survey participants are betting on the Internet of things, cyber-attacks and wearable tech. Overall, the research responses convey cautionary sentiments about the future influence of tech upon society: sentiments that CIOs and other IT leaders should consider as they pursue continued advancements. "Americans live and die by their devices and technologies," said Tom Galvin, co-founder and partner at Vrge Strategies. "But they also fear the growth of technology's power and whether it's focused for the good of all. Whether technology gets treated like a utility—or not—will be largely based on whether companies confront the issues they face." More than 1,000 Americans took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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