Report highlights five trends for businesses
Digital embrace key to future success
Connected businesses and technology strategies, the use of data and intelligence for the physical world, technology support for workers, flexible working conditions and multi-party systems will become key technology trends for businesses, says consulting firm Accenture Thailand.
These five trends, which are spelt out in Accenture's Technology Vision 2021 report, are projected to be imperatives for businesses to accelerate and change in all parts of their operations over the next three years.
"The global pandemic is accelerating digital transformation from three to four years to just one or two as businesses need to cope with rapid changes," said Nitinant Somboonvit, managing director for the technology group of Accenture Thailand.
Organisations with visionary leaders who embrace technology have the ability to adjust in the wake of the pandemic and they will gain more revenue compared to rivals. Moreover, they will bring innovations that fit changes in user behaviour, she said.
Relying on a strong digital core to adapt and innovate at lighting speed, leaders are growing revenues five times faster than laggards today versus only two times as fast between 2015 to 2018, according to Accenture's research in Technology Vision 2021.
In its Technology Vision report, Accenture surveyed 6,241 executives in 14 industries across 31 countries, including 28 from Thailand.
The survey revealed that 92% of respondents believed their organisation was innovating with urgency. Meanwhile, another 91% agreed that capturing the future market required defining it first.
Referring to five technology trends that should pick up in the next three years, Ms Nitinant said the first is called "stack strategically", which means making businesses and technology strategies indistinguishable.
Some 98% of executives believe their organisations' ability to generate value is based on limitations and opportunities with regard to their technology infrastructure.
The second trend concerns linking data and intelligence to represent the physical world in the digital space, which will unlock new opportunities to operate, collaborate and innovate.
Some 65% of executives expect their organisations to invest in intelligent digital twins.
The third trend relates to bringing the power of technology to all employees to empower innovation. For example, low-coding development tools need to be supported so those without technical backgrounds can also use them.
The fourth trend is providing support to employees to be able to work anywhere with flexible working hours.
The survey revealed that 81% of the executives agree that leading organisations in their industry will start shifting from a 'Bring Your Own Device' to 'Bring Your Own Environment' approach.
The last trend deals with a multi-party system, which can help businesses become more resilient and adaptable, explore new ways to approach the market and set new standards in their industries.
The survey also showed that 90% indicated that multi-party systems will enable their ecosystems to forge an adaptable foundation to create new value with their partners.
"We are seeing the health, retail and finance sectors in Thailand embrace digital," Ms Nitinant added.
- technology strategy