Technology to Bring Opportunities, Challenges to Business Models
Gartner analysts expect more transformational changes as digital reinvents industries on the second level--the business model level.As companies digitize products and process, completely new ways of doing business in industries emerge, according to a report from IT research firm Gartner. The firm’s analysts expect more transformational changes as digital reinvents industries on the second level--the business model level, and as digital business applies unprecedented combinations of new technologies to generate revenue and value, it’s imperative that CIOs step up and lead in the digital world. "In the digital future, a human can talk to a ‘thing’ such as requesting a driverless taxi, just as easily as a ‘thing’ such as a building can contact a human maintenance worker because the building predicts that a surge in foot traffic means the garbage cans must be emptied soon," Hung LeHong, research vice president and Gartner Fellow, said in a statement. In the digital future, the Internet of Things--the network of physical objects that contain embedded technology to communicate and interact with their internal states or the external environment--will become as active as humans and systems are on the Internet today.
"Digital technology is improving our products, services and processes, our customer and constituent experiences, and the way we work in our enterprises and within our partner," LeHong said. "We do what we normally do, but digitalization allows us to do it better or develop better products."