Are You Ready for the Fourth Industrial Revolution?
Many surveyed CEOs are concerned about their company’s ability to keep up with new tech, and question whether basic business processes can be integrated with the IoT.
65% of CEOs said the next three years will prove more critical for their industries than the last 50 years, and 39% said they will transform their companies into significantly different entities within that timeframe.
83% are confident about growth prospects for their companies over the next three years.
62% said their company is using disruptive tech to improve their product and services offerings.
81% are concerned about the integration of basic, automated business processes with artificial intelligence (AI) and cognitive processes.
81% are concerned about their need to keep up with new tech.
New product development: 29%, Cyber-security: 26%, Data analysis: 24%, Cognitive computing/AI: 21%, Geographic expansion outside the U.S.: 21%
51% of CEOs said their organization is using data/analytics to develop new products and services, and 50% are doing so to drive processes and cost efficiencies. Nearly the same percentage said data/analytics is needed to find new customers and drive strategy/change.
Just 20% said innovation is at the top of their agenda, and only 25% said innovation is embedded in everything they do.
65% said they will be pursuing “collaborative” growth through external partnerships and alliances, and 61% said they will pursue organic growth.
86% are concerned about how to keep up with the changing wants and needs of Millennial customers.