In this opinion piece, Avanade Australia Innovation Lead Eamon Barker lays out his tips for how businesses can navigate the new frontier of business.
The Australian Government has recognised the need to accelerate the growth and development of our local talent and workforce with the recently announced Global Talent Immigration program that aims to promote skills transfer and high-value job creation for Australians.
Businesses are also preparing for the future by investing in the one transformation within their grasp – technology. New research by Avanade shows that C-suite executives are overwhelmingly eager to adopt innovative technologies, but are more hesitant about how to implement and integrate them, and especially question whether they have the internal capability to fully reap the benefits.
Simply put, businesses want to try the latest technologies but many struggle to fully grasp what they are getting into.
From a global survey of 1,200 executives, 90 per cent plan to integrate new technologies such as blockchain, quantum computing, conversational AI, Internet of Things (IoT) and security and privacy technology into their operations in the coming years. They hope these tools will help them engage with their workforce, collaborate with partners, and create products and services for their customers to stay competitive and ultimately, create more revenue.
So much technology, so many more connections
Emerging technologies today are seamlessly interoperable, with format and data sharing possible across networks. Whereas previously, cloud, social and mobile were mainly adopted individually, new technologies serve a shared purpose and must be implemented in tandem.
For example, blockchain records transactions taken from Internet of Things (IoT). More than half (54 per cent) of organisations expect to adopt a suite of technologies, such as blockchain along with IoT and artificial intelligence (AI), rather than any particular technology by itself. Yet only 12 per cent of Australian businesses are completely integrated, with many questioning whether they have the right use case and how to proceed.
For all the enthusiasm for new technology, eight out of 10 respondents aren’t completely confident they understand or have the capabilities to maximise the benefits of emerging technologies. For example, more than half (52 per cent) don’t believe that new security technologies are keeping abreast of new threats.
To match the right skills with today’s changing business landscape, we need to take a holistic, people-centric approach. The most sophisticated, advanced technology will not save a business if it is not solving a particular problem, led by a team of people who knows what they are doing.
Lock it down
When it comes to securing the technology a company does have, there are routine best practices that are not being followed. The research found that only half of the organisations had rules like multi-factor authentication in place to protect passwords, and only a third (33 per cent) use single sign-ons to streamline and secure user access.
This highlights that we don’t necessarily need more security products, but that businesses need to make better use of the ones they have. According to the latest Australian Notifiable Data Breach statistics, 40 per cent of data breaches happen because of compromised credentials.
While businesses should always be looking to technology for ways to improve and expand, simply having the right technology isn’t the solution — businesses also need to look at the bigger picture and integrate the technology using a holistic, connected approach that considers the experience for both employees and customers.
The new frontier means businesses need to identify the capabilities they will need to solve complex problems in the future and either start training their staff, work with partners who hold those capabilities or hire people who have developed that skillset and support a knowledge and skills transfer.
Please login with linkedin to commentAvanade Australia
Cannes in Cairns, presented by Pinterest, is thrilled to announce that none other than Microsoft will be hosting an offsite networking lunch at Cairns’ stunning Salt House restaurant on Thursday the 3rd of February as part of the event’s packed agenda. As a silver partner to the event, Microsoft (who, we’re sure you’ll agree needs […]
Creative design marketplace, DesignCrowd, has announced reaching the milestone of one million registered designers on its global platform. The Aussie crowdsourcing start-up currently has a 1,004,000-strong freelance designer network, which has grossed over $A62 million since the company’s 2008 launch. The network have completed over 26 million graphic, logo and web designs for both small […]
The Chiefs and Optus today announce a partnership extension that will see the brands continue to collaborate around gaming content in Australia for a further 12 months. The news follows a successful 12-month partnership, including members of The Chiefs featuring in Optus’ Gamer Plan launch supporting the development of Optus’ Streaming Booth. Much of the […]
During the month of October, $A8.5 million was spent in digital travel advertising and digital impressions were up almost 40 per cent from September, according to the Nielsen Ad Intel report. The report found that the top advertisers amongst cruise lines from October in order are Emerald Cruises, Oceania Cruises, and Royal Caribbean. Amongst the […]
Integral Ad Science (IAS) announced the expansion of its context control solution for advertisers and publishers globally to give customers more control over the context of digital ad placements. IAS CEO, Lisa Utzschneider (featured image), gave insight into the enhancement, saying: “We first launched context control to help our customers transform their targeting strategies, and […]
Programmatic video advertising platform Unruly has introduced content level targeting that standardises attributes across genre and rating segments enabling scaled buying on premium video content. Today Unruly announced the introduction of its content level inventory that segments inventory based on publisher bidstream attributes that mirror linear TV buys, such as genre and rating. The solution […]
Golden Circle is bringing a splash of sunshine to the Australian Summer with the launch of an innovative, SmilePay vending machine. The machine was created by 72andSunny, and software development company, Enabled 2 GO Technologies. It uses existing smile recognition software to recognise an Aussie smile and in return release a complimentary ice-gold Golden Circle fruit drink […]
Almost half (49 per cent) of Australia’s marketing, media, and communications employees feel their managers are showing little, if any, concern for their mental wellbeing, a new report has found. The report – conducted on behalf of the Australian College of Applied Professions in October 2021 – surveyed 1000 nationally represented workers and found some […]
Meta has partnered with creative agency, Now We Collide to showcase the strength and resilience of small businesses around Australia. The campaign “Good Ideas Deserve To Be Found,” features the stories of four Australian businesses including Singing Magpie (SA), BoardSox (VIC), D-STILL Drinkware (QLD) and Survival Emergency Solutions (NSW). Each story shows how the business […]
The internet is invaluable but cyber security fears are keeping Australians offline. According to new research released today by the .au Domain Administration (auDA), almost 90 per cent of Australians say the Internet has a positive impact on their lives. Moreover, almost all small businesses (98 per cent) depend on the Internet as an invaluable […]