KPMG\u2019s survey of tech executives also found that RPA and blockchain have risen rapidly as two of the top technologies to help organizations improve their performance.<\/p>\n
\u201cHaving RPA as the biggest mover in KPMG\u2019s survey may mean companies would like to ease their way into artificial intelligence (AI).\u201d said Zanni. \u201cThey see RPA as a step on the proof-of-concept path toward AI, which was number three on the list.\u201d<\/p>\n
Blockchain\u2019s rise into the top four aligns with recently released KPMG findings showing that 41% of tech industry leaders surveyed expect to implement blockchain over the next three years, with nearly half saying it will change the way their company does business.<\/p>\n
\u201cThe pace of change means it is more important than ever to make strategic, long-term investments in innovation, and pay close attention to the impact RPA, blockchain and AI are having on the business model and labor dynamics,\u201d said Fiona Grandi, KPMG National Managing Partner, Innovation & Enterprise Solutions.<\/p>\n
Regardless of the technology, tech leaders most frequently cited \u201cimproved business efficiencies\u201d and \u201cincreased profitability\u201d as the top benefits for companies adopting these transformational technologies. Surprisingly, \u201cincreased market share\u201d and \u201cnew revenue streams\u201d were farther down the list. \u201cUnproven business case\u201d was the most often cited challenge. \u201cBusiness leaders are more focused on taking costs out of their business and are uncertain how new technologies can help them grow revenue and market share,\u201d said KPMG\u2019s Zanni.<\/p>\n
KPMG\u2019s report outlines the following actions that companies and their boards can take to gain a competitive advantage using the technologies:<\/p>\n
- \n
- Assess the impact on their business model<\/li>\n
- Prioritize funding for adopting new technology<\/li>\n
- Engage in mergers and acquisitions and partnerships to accelerate implementation<\/li>\n
- Ensure their business model is adaptable to the new technologies<\/li>\n
- Foster an innovative culture<\/li>\n
- Explore adopting technologies that millennials are comfortable with.<\/li>\n<\/ul>\n
Report Highlights<\/strong><\/h4>\n
- \n
- Internet of Things (IoT) was again ranked by industry leaders as the top driver of business transformation over the next three years. Millennials ranked IoT second.<\/li>\n
- Robotic process automation (RPA) was the biggest gainer in this year\u2019s survey of industry leaders. RPA improved from ninth to second place in the rankings.<\/li>\n
- Blockchain showed the next largest jump, rising from seventh place to tied for fourth.<\/li>\n
- Artificial intelligence maintained its strong position, placing third in this year\u2019s survey.<\/li>\n<\/ul>\n
Infographics: Top 10 and Millennials\u2019 Top 10<\/strong><\/h4>\n
\n![\"Top](\"https:\/\/www.insurance-canada.ca\/wp-content\/uploads\/2019\/05\/top-10-infographic.jpg\")
<\/a><\/p>\nTop 10 technologies for business transformation
(KPMG Technology Industry Innovation Survey 2019)<\/p>\n<\/div>\n<\/div>\n\n![\"Millennials'](\"https:\/\/www.insurance-canada.ca\/wp-content\/uploads\/2019\/05\/top10-Infographics-bt-millennial.jpg\")
<\/a><\/p>\nMillennials\u2019 top 10 technologies for business transformation
(KPMG Technology Industry Innovation Survey 2019)<\/p>\n<\/div>\n<\/div>\nAccess the Full Report<\/strong><\/p>\n
See the full report: Top 10 technologies for business transformation<\/strong><\/a>.<\/p>\n
About the Research<\/strong><\/p>\n
The 2019 KPMG Technology Industry Innovation Survey included responses from over 740 global leaders in the technology industry in 12 countries. Seventy-six percent of the respondents were C-level executives. The online survey was conducted from December 2018 to January 2019.<\/p>\n
The 2019 KPMG Technology Industry Millennials Survey consisted of responses from 600 millennials working in the technology industry in seven countries. The online survey was conducted from February 2019 to March 2019.<\/p>\n
About KPMG LLP<\/b><\/p>\n
KPMG LLP is the independent U.S. member firm of KPMG International Cooperative (\u201cKPMG International\u201d). KPMG International\u2019s independent member firms have 207,000 professionals working in 153 countries. Learn more at www.kpmg.com\/us<\/a>.<\/p>\n
About KPMG International<\/b><\/p>\n
KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 153 countries and territories and have 207,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (\u201cKPMG International\u201d), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. For more information, visit kpmg.ca<\/a>.<\/p>\n
Source: KPMG LLP<\/em><\/p>\n
Tags: Artificial Intelligence (AI)<\/a>, blockchain<\/a>, Business transformation<\/a>, Internet of Things (IoT)<\/a>, KPMG<\/a>, Millennials<\/a>, Robotic Process Automation (RPA)<\/a> Read the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Millennials in tech industry rank 5G high among most impactful technologies: KPMG Report Toronto, ON (May 7, 2019) \u2013 Highlighting divergent opinions between global tech leaders and millennials, KPMG\u2019s report on technology industry innovation...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/14893"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=14893"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/14893\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=14893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=14893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=14893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}