‘Tech intensity’ a key driver of competitive advantage
New study of 700 executives and decision-makers highlights the power of advanced technologies and an entrepreneurial mindset.
Organisations across the world - from 20 industries - have been digitally transforming their operations. As we move into 2020, organisations are moving beyond adopting the latest applications and developing their own capabilities to propel their competitive advantage.
Vast growth of technology companies
A key finding from Microsoft’s study is the extent that companies have embraced ‘tech intensity’. 73% of companies have created their own first-party intellectual property using next generation technology such as machine learning (39%), IoT (37%), AI (32%), blockchain (29%) and mixed reality (21%).
75% also believed that harnessing tech intensity is the most effective way to build a competitive advantage and that it is critical to do this.
Global impact of ‘tech intensity’
Among the participants there was a strong consensus that tech intensity will have a positive impact on communities globally.
When asked about where tech intensity will serve to drive societal improvement, participants highlighted three key areas:
43% selected better public services at lower costs
40% chose improved connectivity in rural areas
40% chose reduced corporate waste.
Other areas respondents expect to see improvements include:
Health care (36%)
Consumer safety (36%)
Worker safety (33%)
Access to financial services (33%)
8% said they didn’t expect ‘tech intensity’ to deliver any positive benefits.
When it came to corporate culture, 92% of participants believe that it is very important to stay on the cutting edge of technological progress is essential to retaining talent.
For more information on business topics in the United States, please take a look at the latest edition of Business Chief USA.