New technologies are changing the face of the technology industry.
As agents of change, technology companies have always been at the forefront of disruption. Today, as an ever-increasing range of new technologies disrupt the sector with exponential speed, tech business leaders are focused on how to create new value propositions for their customers and to run their own organisations more effectively.
Given that technology companies tend to be innovators and are primarily responsible for much of the disruptive technology out there, it’s little surprise that most seem to be upbeat about its potential. More than two-thirds of respondents (67 percent) say they’ve seen a positive impact on both their organisations and their industry. Fifty-one percent are excited about the ability to enter new markets on the back of disruptive technologies, and 46 percent see opportunities to develop new monetisation models.
In spite of this apparent optimism, many leaders of technology firms admit that their organisations may not be ready for disruptive technologies and the changes they bring. Less than one-third of respondents believe their companies are “very prepared” in their strategic vision, and only 31 percent feel they have a strong knowledge of available technology solutions.
Disruptive technology is breaking down traditional boundaries between industries. Almost four out of five technology leaders taking part in the survey are worried about non-technology firms becoming technology firms, and of those respondents citing a negative impact from disruption, 61 percent say it’s because of new competitors entering from other industries.
All of these factors combine to obscure the way forward for tech firms, and technology leaders are struggling to determine which disruptive technologies to adopt in a way that adds the most value to their businesses.