The Implications of Emerging Technologies on Strategy
Leveraging multiple emerging technologies in your strategy is becoming essential if organizations are to remain competitive in the coming period of global change. The objective of many organizations’ strategy is to achieve and maintain a competitive advantage. The third industrial revolution significantly increased the use of technology to achieve and maintain a competitive advantage. This will increase as we move into the fourth one, which leverages multiple technologies including artificial intelligence, the Internet of Things (IoT) and many other emerging technologies. It should be noted that in some circles, the fourth industrial revolution is referred to as Industry 4.0 (four dot zero).
The strategic combination of multiple emerging technologies will create the ability to reduce costs, differentiate an organization from its competition and provide products and services that are new and unique in the global marketplace. The impact of this period of rapid technological advancement will without question create new opportunities in the global business community. It’s clear that organizations, regardless of size, need to understand the social implications of all the changes that will take place due to the rapid adoption and implementation of these emerging technologies.
A recent interview with Simon Murphy, partner at Deloitte Ireland and head of its
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