Survey of 10 disruptive technologies highlights those most likely to impact businesses and investments in the next 12 months
DALLAS, April 03, 2018 (GLOBE NEWSWIRE) — YPO, the premier chief executive leadership organization in the world, announced today the results of the March 2018 YPO Global Pulse Survey, revealing that chief executives across the world are focused on core business technologies, such as cloud computing, business intelligence (BI) and cybersecurity, whilst adoption and investment of emerging technologies such as blockchain, artificial intelligence (AI) and cryptocurrency are likely to be sector-driven.
Disruptive Technologies Attracting CEO Attention and Likely Investment Globally:
- Cloud computing is a key priority for chief executives globally – more than two thirds (68%) of chief executives report that cloud computing is likely to impact their business in the next 12 months, and 62% state that they are likely to invest in cloud-based technologies.
- Business Intelligence (BI) has the attention of CEOs – 65% of chief executives surveyed expect BI to impact their organizations and more than half (56%) are likely to invest in business intelligence in the coming 12 months.
- Cybersecurity is a disruptive technology that chief executives have prioritized – given the scale and severity of recent high-profile consumer data breaches, 53% of chief executives are expecting cybersecurity to impact their business and 47% state that they are likely to invest in cybersecurity technology in the coming year.
“What I’m hearing from YPO global business leaders right now is that digital transformation remains at the very top of their priorities in 2018. Several disruptive technologies are expected to garner widespread attention and investment this year, such as cloud computing, cybersecurity, business intelligence and mobile payment applications,” said Scott Mordell, CEO of YPO. “YPO members are embracing technology to address regulatory requirements, harness business data for improved efficiency and increased financial performance, and to match consumer demand for new and innovative ways to interact with their businesses.”
Despite Expected Disruption, CEOs Less Likely to Invest in These Technologies in the Next Year:
- Although virtual reality (VR)/Augmented Reality (AR) are widely noted as technologies likely to impact most industries, most CEOs surveyed are not actively investing in those technologies yet. However, within architecture and engineering sectors, 83% of business leaders expect VR to impact their business and 64% plan to invest in it over the next 12 months, as compared to only 23% of all chief executives surveyed willing to invest in these technologies now.
- Similarly, artificial intelligence (AI) is perceived as likely to impact businesses, but CEOs are less likely to invest in AI this year as cloud computing, business intelligence, cybersecurity and digital/mobile payment applications, which are commanding more immediate attention and likely candidates for investment in the next 12 months.
- CEOs are least familiar with chatbot technology, followed by blockchain and cryptocurrency among the 10 disruptive technologies surveyed. As a result, they tend to discount the likelihood of disruption to their businesses from these new emerging technologies and show much lower interest in investing in these technologies this year.
Disruptive Technology Investment Driven by Specific Industry Sectors
The levels of familiarity and interest in many disruptive technologies are determined by industry. For instance, although there has been much media attention and discussion around blockchain and cryptocurrency, most CEOs do not see either of those technologies as particularly likely to impact their businesses, and are not likely to invest in those technologies. However, blockchain has gained the attention and investment of CEOs in the financial services sector.
- More than half (58%) of chief executives in financial services expect blockchain technology to impact their organization over the next 12 months, and as many as 40% expect to make investments in the technology.
- The Internet of Things (IoT) is cited as a key technology area by business leaders within the telecom, architecture, engineering and technology sectors. More than three quarters (78%) of chief executives in telecoms expect IoT to impact their business and almost all of them (96%) expect to make investments in IoT over the next 12 months.
“The findings of the YPO Global Pulse reveal that the short-term business impact and investment strategy associated with a particular technology is largely dependent on the specific industry in which you operate,” noted Scott Mordell, CEO of YPO. “It will be fascinating to see how priorities and focus change over the next year as disruptive technologies such as AI and virtual reality become more mainstream.”
YPO Global Pulse® Survey
The YPO Global Pulse provides insight into the perspectives of chief executives around the world on topics that influence businesses, leadership and impact. The March 2018 Global Pulse survey results provide key insight into the understanding, attitudes and investment plans of chief executives around the world, regarding the 10 disruptive technologies that are attracting attention right now. The March 2018 YPO Global Pulse survey provides perspectives from 842 YPO members, from 15 different regions of the world and across 28 industry sectors. Visit www.ypo.org/globalpulse for more information about the survey methodology and results.
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