PwC's key technology trends that will shape your business

PwC has identified some key essential technologies that are poised to reshape major industries and the way they operate: the internet of things, virtual reality, and 3D printing. Johan Potgieter, the Technology Leader for PwC South Africa, shared insights on these trends in a recent interview on CNBC Africa. The annual global CEO survey conducted by PwC revealed that 61% of CEOs expressed concerns about the significant disruptions in technology. In response, PwC delved into researching over 150 disruptive technology trends to determine the top eight that are likely to have the most substantial impact on businesses. The company believes these trends are too significant for organizations to overlook. The overarching theme of the discussion centered around the impending necessity for companies to adapt to these technological advancements to remain competitive in the ever-evolving landscape. Potgieter emphasized the importance of not merely having a digital strategy but ensuring that the core business strategy incorporates digital elements. He highlighted the shift in consumer behavior driven by technological advancements and cautioned against disregarding the potential impact on business models. While acknowledging the initial reluctance of some companies to embrace change, Potgieter underscored the need for businesses to stay abreast of disruptive technologies to avoid missing out on valuable opportunities. He noted that companies in Africa are witnessing a significant leapfrog effect in technology adoption, where advancements rapidly gain traction. Potgieter addressed the concerns surrounding job displacement due to automation and artificial intelligence. Contrary to fears of widespread unemployment, he pointed out the emergence of new job roles in fields such as data science and software development. He highlighted the importance of leveraging data analytics to drive innovation and enhance business strategies to create new job opportunities. Despite the transformative impact of technology on various industries, Potgieter expressed optimism about the potential for human intervention and creativity to drive continued growth and evolution. As businesses navigate the changing technological landscape, the integration of key trends such as the internet of things, virtual reality, and 3D printing is essential to drive innovation, improve operational efficiencies, and meet evolving consumer demands. PwC's emphasis on these pivotal technologies underscores the critical need for companies to adapt and embrace digital transformation in their strategic planning to secure a competitive edge in the dynamic marketplace.