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Emerging Technologies: CEOs not Sure What to Make of New Technologies

December 17, 2019

first_imgEmerging technologies may have the potential to revolutionize the way businesses work, but despite that, CEOs aren’t so sure that new technology can help them to boost productivity.Gartner says that there’s a problem.  They see a disconnect between what technology can do and how to most effectively apply it to business models to increase productivity.Mark Raskino, analyst at Gartner, said that ” CEOs lack a major new theory. The really big management ideas of the past like business process management (BPM), total quality management (TQM) and lean [management] are less helpful in an ephemeral product and services world where social networks, business model innovation, design thinking, brand values and customer experiences are at the center of value creation …There is still little in the way of management theory on how to optimize the new kinds of inputs and work …There is no new big idea or major trend in contemporary productivity thinking.”It’s maybe not so much that new technologies can’t boost productivity.  Rather, it’s that businesses aren’t designing their business plans to best take advantage of the possibilities of technology.  Gartner says, for example that the technologies of IoT, AI, 3D printing and blockchain have the potential to radically change business, but these technologies still aren’t on the radar for most executives.Gartner’s survey of CEOs found that just 1% said they see value in blockchain, AI or 3D printing technologies, and only 2% thought that IoT would help them improve productivity.Raskino said that “what’s really needed is new business-transforming management science ideas. Those include methods of framing, modeling, measuring and changing productivity to take advantage of the pile-up of new high-power technologies. Big, creative thinking may be more valuable than yet more new technology right now. The smartest CIOs of this generation have the opportunity to come up with new methods as powerful as Lean or BPM were in prior decades.”last_img

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