Emerging Technologies
Building trust and delivering value in the next digital world
The constantly accelerating pace of technical innovation is driving change across all industries. Emerging technologies have the potential to enable new capabilities and create a competitive advantage. Leaders everywhere are, therefore, under pressure to figure out how best to use them to improve decision-making and generate new revenue streams. However, unlocking the true potential of emerging technologies requires a strategic approach. Leaders need to avoid the hype and choose solutions that deliver tangible business impact.
Some of the emerging technologies expected to transform business in the next five to ten years include:
Artificial intelligence (AI)
A recent Gartner report forecasts global spending on AI software will surge from USD $124 billion in 2022 to USD $297 billion in 2027, a growth rate of 19.1%. Gartner predicts the integration of AI tools will be most prevalent in marketing, product design and customer service, reflecting a shift toward more personalized and efficient operations. Business leaders need to understand the basics of AI, its potential benefits and what to keep in mind as they navigate this rapidly evolving landscape. Our seasoned professionals across Advisory, Technology, Cyber Risk and more are leading the charge of bringing AI and process automation to middle-market companies. Read more.
Blockchain
As the use of blockchain and digital assets continues to grow, it is driving innovation, fostering economic development and creating new opportunities. At the same time, the widespread adoption of blockchain technology has implications for sustainability, taxes, accounting and government regulation. Learn more about how BPM works with businesses, from startups preparing for a strategic event to mature companies expanding into new markets.
Download the Ten Blockchain and Digital Assets trends e-book to learn about the developments shaping the future of this exciting industry in 2024.
Augmented reality/Virtual reality
Augmented reality (AR) overlays digital information or objects onto a real-world environment, enhancing the user’s perception of reality. On the other hand, virtual reality (VR) is a computer-generated simulation of a three-dimensional environment that can be interacted with using special equipment, such as a headset. The AR/VR market is expected to experience significant growth over the next several years. According to Statista, it will generate revenue of USD $38.6 billion in 2024 and is expected to grow at an annual rate of 10.77 percent, resulting in a projected market volume of USD $58.1 billion by 2028. From virtual onboarding to immersive retail experiences, BPM has the AR/VR experience to help you understand how to best utilize these technologies to enhance collaboration and engagement.
How BPM can help
BPM consultants stay informed of the latest technologies as they develop. We cut through the hype and give you a realistic view of what new technology may mean for your industry or business and how it could help you create a competitive edge. Whether you’re looking to grow customer engagement, improve your company’s ability to scale on demand, address business problems, increase resilience or enhance knowledge management, BPM can help you understand and implement the most relevant innovative solutions.
