Technology Industry Views IoT, AI as Top Business Game-Changers

Technology industry leaders predict that the internet of things (IoT) will bring the most potential to shake up their industry over the next three years, according to a recent survey from KPMG. The resulting report, titled “The Changing Landscape of Disruptive Technologies,” also indicates that artificial intelligence (AI) and robotics will emerge as dominating business transformation drivers. In other findings, survey respondents rank Alibaba as the most potentially disruptive company, and e-commerce as the most likely disruptive business model. More than 750 global tech industry leaders took part in the research. This slide show features survey highlights as well as additional research from the report provided by IDC, with charts courtesy of KPMG.

The internet of things (IoT) will drive the greatest business transformations over the next three years, according to 17 percent of survey respondents. Artificial intelligence (AI) is ranked second (as cited by 13 percent of respondents), followed by robotics (10 percent).

IoT will most benefit “life, society and the environment” over the next three years, according to 14 percent of respondents. Again, AI is ranked second (as cited by 12 percent of respondents), followed by robotics (10 percent).

Worldwide IoT spending will total $1.1 trillion by 2021. AI/cognitive tech spending will reach $52.2 billion by then, and spending on robotics and drones will amount to $218.4 billion.

Alibaba is considered the most likely company to disrupt businesses, as selected by 12 percent of respondents. Facebook was next (picked by 11 percent of respondents), and then Airbnb (10 percent).

Just over one-quarter of respondents predict that e-commerce platforms will create the biggest disruptions in their country over the next three years. Social networking platforms ranked second (as cited by 19 percent of respondents), followed by autonomous transportation platforms (14 percent).

Nearly one-quarter of respondents said restrictive regulatory policies present the biggest barriers to innovation. A lack of access to expertise/talent ranked second (as cited by 22 percent of respondents), followed by “nonexistent” tech standards (21 percent).

When asked to rank the top barriers to commercializing tech innovation, 22 percent of respondents selected the failure to gain customer adoption. A lack of funding/access to capital ranked second (as cited by 21 percent of respondents), and cyber-security (21 percent) ranked third.

Survey respondents are relatively lukewarm about blockchain, with just 30 percent indicating that the technology will “very likely” disrupt their company within the next three years. One in five said this wasn’t likely.

When asked to name their favorite app category, 8 percent of respondents selected “games.” Business, entertainment, travel, lifestyle and social networking all tied for second, as chosen by 7 percent of respondents.