How Tech Change Ramps Up Business Pressures

 
 
By Dennis McCafferty  |  Posted 03-15-2016 Email
 
 
 
 
 
 
 
 
 
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    How Tech Change Ramps Up Business Pressures
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    How Tech Change Ramps Up Business Pressures

    Many organizations are under pressure to reinvent themselves in order to avoid falling behind the competition—and on the wrong side of the digital revolution.
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    Record-Setter
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    Record-Setter

    86% of IT and business execs anticipate that the pace of tech change will increase rapidly (or at least at an unprecedented rate) in their industry over the next three years.
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    Organizational Overhaul
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    Organizational Overhaul

    82% said organizations today are increasingly pressed to reinvent themselves and evolve their business to avoid being disrupted by the outside or by competitors.
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    Wider Net
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    Wider Net

    88% feel their IT department must broaden its scope to keep up with evolving tech needs.
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    Back to School
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    Back to School

    37% said that there's a significantly greater need to train the workforce now compared to three years ago, thanks in much part to tech changes.
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    Compromising Position, Part I
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    Compromising Position, Part I

    82% said that, due to the need to handle more data, companies are increasingly exposed to risk.
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    Compromising Position, Part II
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    Compromising Position, Part II

    82% said that a lack of security and ethical controls over data could prevent them from participating in outside digital platforms and broader tech ecosystems—which are critical components of go-to-market strategies.
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    Brain Gain
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    Brain Gain

    70% of survey respondents said they are making significantly more investments in artificial intelligence (AI) tech than they did two years ago.
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    Elusive Employees
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    Elusive Employees

    38% of global businesses struggle to find the right talent for open positions.
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    Youth Movement
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    Youth Movement

    53% of business leaders said it's difficult to attract and retain Millennial talent.
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    Hired Guns
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    Hired Guns

    43% of the U.S. workforce is expected to be freelance by 2020.
 

The vast majority of IT and business executives are bracing for what's expected to be unprecedented tech changes over the next several years, according to a recent survey from Accenture. Accenture's 2016 Technology Vision Report, titled "People First: The Primacy of People in a Digital Age," addresses the need to overhaul strategies—and staffer skillsets—to remain competitive in light of these changes. With digital initiatives/projects driving one-quarter of the world's economy by 2020 (up from 22% in 2015), most survey respondents said companies are under pressure to reinvent themselves to avoid any fallout from tech disruption. They also indicate that their IT department must broaden its scope to keep up with the pace. Meanwhile, an influx of big data is creating serious business and cyber-security risks, findings reveal. "The real deciding (success) factor in the era of intelligence will be a company's ability to evolve its corporate culture to not only take advantage of emerging technologies," according to the report, "but also, critically, embrace the new business strategies that those technologies drive." The report covers a broad range of business and tech topics, including personnel needs and Internet of things (IoT) investment, and we've included some of those findings here. An estimated 3,100 IT and business execs took part in the research. Additional findings included here were compiled from published research from organizations such as Gartner and RedBrick Research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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