How To Ensure Emerging Technology Will Benefit Your Business Posted on : Dec 05 - 2021

Ongoing technological advancement is perhaps the single biggest force shaping the modern business landscape. Breakthroughs in artificial intelligence, cryptography, robotics, virtual reality, and countless other fields seem to happen every day, creating new business opportunities and altering consumer behavior in the process.

Given the ever-increasing pace of change, you must constantly scan the horizon for the next big tech trend as a business leader. However, many individuals place undue emphasis on the future without fully understanding how existing digital tools impact their organizations. If you haven't thought about how your company currently uses tech, you might need to reconsider the adoption process.

How to successfully adopt new technology

In 2011, Marc Andreessen predicted that the leading companies of the future would be those that capitalized on innovative digital tools. This proved to be true—just look at today's most valuable companies for proof. But the ones that are falling behind aren't necessarily technology-averse. Rather, they might be investing heavily in digital transformation.

The problem is technology investments that aren't guided by a thoughtful strategy can create more issues than solutions. With that in mind, here are three tips you can use to ensure new technology investments truly benefit your business:

1. Audit existing workflows and consider what resources your teams need to do their jobs.

Data from a recent McKinsey & Co. survey of global executives suggests that the COVID-19 pandemic rapidly accelerated enterprise technology adoption. Since the beginning of the crisis, the share of digital or digitally enabled products in company portfolios has advanced by about seven years. In theory, this means companies are operating faster and more efficiently than before. But in reality, the new technology could be hampering your employees' productivity. View More