With consumers and businesses being surrounded by digital technology, companies need a new focus on align their drive to create business value with the values and expectations of their customers and employees.
This according to the Accenture Technology Vision 2020 report which predicts the key technology trends that will redefine businesses over the next three years.
The study, titled “We, The Post-Digital People: Can your enterprise survive the ‘tech-clash?,” said that even though people are embedding technology into their lives more than ever before, organizations’ attempts to meet their needs and expectations can fall short.
“As companies enter the decade of delivering on their digital promises — and in a world where digital technology is everywhere — a new mindset and approach is required,” the report said.
Accenture said while some have referred to today’s environment as a “tech-lash” or backlash against technology, the term fails to acknowledge the extent to which society is using and benefitting from technology.
“Rather, it’s a tech-clash — a clash between business and technology models that are incongruous with people’s needs and expectations,” it stressed.
Of the more than 6,000 business and IT executives worldwide that Accenture surveyed for the report, 83% acknowledged that technology has become an inextricable part of the human experience.
As part of the research this year, Accenture also surveyed 2,000 consumers — 70% of whom expect their relationship with technology to be more or significantly more prominent over the next three years.
“Dazzled by the promise of technology, many organizations created digital products and services just because they could, without fully considering the human, organizational, and societal consequences,” said Paul Daugherty, Accenture’s chief technology and innovation officer.
“Today we’re seeing a tech-clash caused by the tension between consumer expectations, the potential of technology, and business ambitions — and are now at an important leadership inflection point. We must shift our mindset from ‘just because’ to ‘trust because’ — reexamining our fundamental business and technology models and creating a new basis for competition and growth.”
According to the report, continuing with existing models doesn’t just risk irritating customers or disengaging employees, but could permanently limit the potential for future innovation and growth. But tech-clash is a challenge that can be solved, it said.
The Technology Vision report identified five key trends that companies must address over the next three years to defuse tech-clash and realize new forms of business value: