Can you afford not to adopt these technologies?6 Minutes
Much has been written about the leading 10 disruptive technologies that are expected to generate trillions of dollars in economic value in the decade ahead. Panasonic is deeply engaged in most of these technologies.
We believe that shaping them into integrated solutions is the key to creating entirely new experiences. But how do Chief Technology Officers (CTOs) and other senior decision makers view these technologies? Which do they intend to adopt? And what are the barriers to adoption?
To find the answers, Panasonic Corporation of North America recently commissioned a research series, Moving Forward, on how disruptive technologies are impacting businesses, government agencies and entire industries. We’re pleased to be able to share some of our findings with you now.
Disruptive technologies are drawing investment
Our study shows that many companies have made investments already. Breaking it down by technology, more than four in five have adopted mobile devices, apps and commerce and the cloud, and three in five have adopted the Internet of Things (IoT). Senior tech decision makers believe these three technologies are most critical to their future success.
But interest is strong in all 10 disruptive technologies, with one-third of companies planning to use seven or more in the near future. Renewable energy, robotics, artificial intelligence (AI), 3-D printing, advanced materials and energy storage are each expected to be a near-term investment for two in five companies. One in five plans to invest in autonomous vehicles.
Failure to adopt disruptive technologies is risky
Senior decision makers clearly understand the risk in failing to adopt disruptive technologies. Across the board, they realize that their businesses could be hit hard if they do not embrace them.
- Nearly four in five believe industry competitors will pull ahead if they do not adopt or invest in these technologies.
- Seven in 10 are concerned competitors outside their industry could disrupt them.
- And these decision makers see a wide range of consequences, from falling revenue to unsustainable pricing to an inability to meet consumer demand.
Our net, net: disruptive technologies are not a nice-to-have – they’ve become the price of doing business…and staying in business.
The biggest barriers to adoption
Topping the list of obstacles are complying with government regulations and consumer privacy/security. A lack of skilled employees and lack of expertise for effective implementation are also major concerns. In fact, half of the companies surveyed believe they might need a partner to guide them on how best to adopt and integrate these technologies into their business.
That need for guidance rings true with our own experience here at Panasonic. With our wide range of expertise, Panasonic is uniquely skilled at bringing together these technologies. We’ve seen more and more companies reach out to our technology and industry leaders, seeking our expertise in how to integrate these technologies into the products and experiences they’re developing for the consumer of tomorrow.
What's next in our Moving Forward series?
In the weeks and months ahead, we’ll be taking deeper dives into this research, with the goal of increasing understanding of how disruptive technologies are impacting Sustainable Energy and Integrated Supply Chain solutions. Stay tuned.
About the research
This research was commissioned by Panasonic Corporation of North America and fielded from December 4, 2017–January 30, 2018 in the U.S. and Canada. The survey included 200 CTOs and other senior technology decision makers in organizations with at least 200 employees.