Corporate Australia is increasingly taking the viewpoint of the startup as technology becomes part of every business and every commercial relationship, according to Deloitte’s eighth annual Technology Trends report.
And CIOs who harness the possibilities of technologies will be better able to shape the future of their businesses.
“As CIOs manage constant technological advances and the exponential pace of change, they need vision as well as dexterity to offload the weight of operational inertia,” says Kevin Russo, Deloitte lead partner for technologyin Australia and the Asia Pacific region.
“Open standards, cloud-first designs, clever platforms and loosely coupled architectures are the norm for startups.”
When CIOs were asked what they would do differently if they could start over with a new IT architecture, they point to flexible and unencumbered startups to lower costs and increase capabilities.
“Leaders and CIOs understand they need a deliberate innovation response to keep relevant and give their businesses greater freedom to move,” says Deloitte consulting partner and co-author of the report, Steve Rayment.
“To do so we are finding our Australian CIOs and businesses are using cloud-first strategies and systems that are loosely coupled and automated to be self-learning and self-healing.”
This year’s trends as identified by Deloitte:
- IT unbounded. The boundaries surrounding IT are fading as technology becomes integral to almost every business function and relationship.
- Dark analytics. Advances in computer vision and pattern recognition allow companies to unlock insights from unstructured data that, until now, have been lost in the dark.
- Machine intelligence. Machine intelligence helping companies make better decisions, embed complex analytics into customer and employee interactions, and — with adoption of bots and robotic process automation — automate increasingly difficult tasks.
- Mixed reality. Companies are exploring more engaging ways to combine the physical world and digital systems, creating a new, mixed reality that’s more natural, intuitive and intelligent.
- Inevitable architecture. Open standards, cloud-first designs and loosely coupled architectures are the norm in startups. Now, large enterprises have similar ambitions.
- Everything-as-a-service. Traditional business products are being reimagined as services as organisations modernise core systems.
- Blockchain: Trust economy. Blockchain is emerging as the mainstay for digital identities in the emerging trust economy.
- Exponentials watch list. Advances in disruption forces such as synthetic biology, energy storage, quantum computing, and nanotech could transform the way we do business.