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May 12

CEOs rate potential of new technology ‘very low’!

A new Gartner survey of 388 CEOs/ senior executives found they rated as “very low” the potential for productivity improvement from new breakthrough technologies such as IoT, AI, blockchain (secure databases) and 3D printing

In particular, when asked for their ‘top enabling technology for improving productivity’:

  • Only 2% chose IoT – and only 1% picked either AI, blockchain or 3D printing

  • Whereas 10% chose ERP, 7% the cloud or data analytics, 4% CRM, and 3% mobiles or marketing tools

However, about half expected IoT would have a major impact on business changes to come, a third said the same about AI, and a quarter for blockchain and 3D printing

Gartner thus suggests ‘it may be too early in the game for CEOs to fully appreciate the benefits of these four general purpose technologies (GPTs)” – “CEOs are still largely judging productivity based on management theory from the industrial manufacturing era” – “they need ways to judge the value of such new technologies such as increases in customer approval ratings rather than, or instead of, using just revenue”

At present, according to Jack Gold, an analyst: “Most companies have no idea how to get the most out of all the new technology piling-up, nor how to measure return on its investment and the competitive advantage it might give them” – hence most use “seat of the pants guessing”

New measures and methods for employing these new GPTs are thus needed urgently

 

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