"Innovation convergence unlocks new paradigms," produced by audit and tax adviser KPMG International of Santa Clara, California, examines the developing role of cognitive technology in opening doors to new industry prototypes, KPMG announced recently.
The comprehensive report pinpoints significant discoveries in innovation and developing systems based on two recent company surveys: KPMG's 2017 Global CEO Outlook and KPMG's Global Technology Industry Innovation survey.
Of 1,200 CEOs queried, more than 75 percent anticipate higher IT staffing numbers to handle new cognitive technologies; 64 percent foresee more middle managers; 62 percent anticipate more customer service personnel; and 60 percent expect more sales and production workers.
The report places the Internet of Things, robotics and artificial intelligence/cognition as the top drivers of business transformation.
"The convergence of emerging technologies is creating new market value and displacing existing products and services," Tim Zanni, chair of KPMG's technology, media and telecommunications practice, said. "These technologies are driving profound changes in industries and business models as well as life, society and the environment."
Survey respondents identified three possible hindrances to progress as platform consolidation, demonstrable investment return and access to capital.
In response, Zanni stressed that entrepreneurs ought to study “platform companies” as KPMG’s results indicate that to stay competitive, all industry stakeholders need to “navigate the disruption” from new angles.
"Platform companies are leading this revolution as … enablers of the redefined 21st century enterprise," Zanni said. “All organizations should quickly understand that incremental innovations are not enough. This revolution requires companies to transform their organization across all functions and operations.”