The FINANCIAL — A combined 62 percent of the 1740 technology, media and telecommunications (TMT) executives that KPMG International recently surveyed say that disruptive technologies are having a positive impact on their company’s performance. A further 67 percent say it is having a positive impact on their respective industries as well.
According to the survey, the main reason for the positive impact on their company’s performance was that they are using disruptive technologies to reshape their company’s business models (55 percent), followed by entering new markets (53 percent).
Media sector executives were most likely to cite using disruptive technologies to reshape their business models (62 percent) and most likely to cite the ability to enter new markets (57 percent). However all sectors ranked all of the five impacts as positive above 49 percent.
Even though they are optimistic, they are concerned. Of those respondents citing a negative impact on their companies’ performance from disruptive technologies, the main reason is competition – specifically bringing new competitors into their industry from other industries (63 percent).
In reality, TMT sector leaders are not prepared for disruptive technologies. Only 15 percent strongly agree that they have a clear mission and strategy for disruptive technologies. Technology executives are the most confident in having a strategy and mission in place (18 percent) versus 12 percent of media sector executives and 11 percent of telecommunications executives. Furthermore only 28 percent say they have strong knowledge of the available technology solutions. Media executives are the most aware at 33 percent followed by technology executives, 26 percent, and telecommunications, 25 percent.
However the survey does show they are investing broadly in many disruptive technologies and are hedging their bets. Cloud, mobile, data and analytics (D&A) and marketing platforms were the top areas that companies in all sectors said they are making tangible, strategic/significant investment into (64, 63, and 59 percent respectively).
TMT organizations are using disruptive technologies to drive organizational improvements – where are they having the most impact? This varies between the sectors, based on the changes to their industry. However, they are having a significant impact, and being used, to improve operations and change how they serve their customers.
When it comes to which technologies companies in all sectors are using to serve their customers, data and analytics (D&A – analysis of data to create real-time change) is having the most impact (78 percent), and the same amount 78 percent, say mobile devices and applications. This was followed by social media (social networking and collaboration platforms – 76 percent) and marketing platforms (digital media/advertising platforms) at 75 percent.
D&A and mobile devices and applications are also the top two technologies driving change in their operations (79 and 78 percent respectively). Marketing platforms (digital media/advertising platforms) here is in the number three spot (77 percent) with social media fourth (75 percent).
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