Can you afford not to adopt these technologies?

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Can you afford not to adopt these technologies?

6 minute read
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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.

Study: Adoption of 10 disruptive technologies by industry


Already adopted

 

Intend to adopt

 

Critical to future success

 
3-D printing

45%
Advanced
materials

44%
Artificial
intelligence

47%
Autonomous
vehicles

20%
Cloud

80%
Energy storage

43%
Internet
of Things

74%
Mobile devices,
apps and
commerce

80%
Robotics

52%
Renewable energy

58%
 
 

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.

Big gaps between current and future adoption suggest rapid growth for AI, IoT, 3-D printing and energy storage.

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.

Authors
Lauren Sallata - Chief Marketing Officer, Panasonic Corporation of North America

Disruptive tech fueling the Integrated Supply Chain revolution

Moving Forward Series article 2

Disruptive tech fueling the Integrated Supply Chain revolution

6 minute read
Moving Forward Article 2

Technology leaders in Integrated Supply Chain industries – manufacturing, logistics, food service, hospitality & retail – increasingly rely on disruptive technologies to accelerate their businesses. They’re investing to improve things like personalization and communication, and see a time when artificial intelligence will play a critical role in their business. These industries and others are adopting 10 leading disruptive technologies expected to generate trillions in economic value in the decade ahead.

Panasonic is deeply engaged in these technologies. We believe that connecting them into integrated solutions is essential to creating entirely new experiences. To understand the role they play in other organizations, Panasonic Corporation of North America commissioned a new research series, Moving Forward, on how disruptive technologies are impacting businesses, government agencies and entire industries.

The first report in our series detailed reasons that tech leaders are adopting these technologies and asked about their future plans. This piece looks closely at key technologies being adopted by senior decision makers working in Integrated Supply Chain businesses.

Study: Which disruptive technologies will companies adopt in the near future?

leadership thoughts manufacturing

leadership thoughts logistics

leadership thoughts food service

Some common priorities – and some different ones

Consistent with our findings across all industries, mobile devices, apps & commerce and the cloud are the most commonly adopted disruptive technologies across the supply chain, particularly within the customer-facing food service, hospitality & retail industries (90% adoption of mobile, 84% for the cloud). Similarly, adoption of the Internet of Things and renewable energy was high in these industries.

But the Integrated Supply Chain also has its own set of industry-specific priorities: 

  • Manufacturing companies are particularly interested in robotics, advanced materials and 3-D printing, which have the potential to impact both product and process.
  • Food service, hospitality & retail firms are especially bullish on artificial intelligence (AI), which can help them better understand the needs and behavior of their customers.
  • And two in five logistics companies intend to adopt autonomous vehicles in the near future – by far the most of any industry surveyed.

Technologies in service of personalization

In the supply chain, one of the most significant trends being driven by disruptive technologies is greater personalization. Nine in 10 Integrated Supply Chain companies believe that personalizing the way they engage with customers is important to their future success. Many already have efforts under way, with three in four saying they will have fully personalized their interactions with customers within five years.

But what exactly does “personalize” mean to these companies? As it turns out, different things. By about a 2-to-1 margin, companies view personalization as simplifying engagement with customers, rather than customizing services and offerings for them.

Logistics and manufacturing, for example, are primarily interested in simpler interactions through technology such as mobile apps. Food service, hospitality & retail are focused on that as well, but also on using customer data analytics to predict and impact purchase behavior.

Automation software: the key to achieving simplification

In adopting disruptive technologies, companies are bringing a lot of diverse data into their operations and engaging with customers in both online and physical experiences, creating complexity.

To achieve the level of personalized engagement they want, Integrated Supply Chain decision makers understand that they need to simplify operations and better integrate data across channels and touch points. Not surprisingly, companies say automation software that simplifies processes is the area where they’d benefit most from innovation.

4 in 5 companies see very strong benefits from automation software that simplifies processes.

These companies see automation as key to tackling many day-to-day frustrations including:

  • Manual data entry that is prone to human error and backlog
  • Lack of streamlined communication between owners of various parts of the order life cycle
  • Goods delivered late or to the wrong place
  • Management information systems not in sync

Looking toward the future

In addition to automation software, companies are eyeing many other areas where disruptive technologies would benefit them, including integration of IoT sensors into supply chain systems (66%) and integration of more robotics into operations (61%).

Artificial intelligence is an area of strong interest across the entire supply chain. Nearly 3 in 5 think their company would benefit from machine learning that predicts patterns and behaviors. And 45% expect it to play an indispensable or important role for their company or industry by the year 2025.

What’s next in our Moving Forward series?

Up next week in this Moving Forward series, we examine how Sustainable Energy technologies are impacting the energy & utilities and building & construction industries. In the meantime, be sure to explore some of our other perspectives on Integrated Supply Chain innovation.

About the research

This research was commissioned by Panasonic Corporation of North America and fielded in the U.S. and Canada. The survey included 200 CTOs and other senior technology decision makers in organizations with at least 200 employees.

Authors
M. Faisal Pandit - Sr. Vice President & Chief Digital Officer, Panasonic System Solutions Company of America