Recent research by the Boston Consultancy Group (BCG) and the National Association of Software and Services Companies (NASSCOM) has identified 12 new technologies with significant financial momentum. They are autonomous analytics, augmented reality and virtual reality, autonomous driving, deep learning, computer vision, distributed ledger, smart robots, space technology, sustainability technology, edge computing, sensor technology, and 5G/6G. These are now referred to as the “Biggest Bets.”
According to the research, these 12 technologies will disintegrate in a variety of ways, making way for large bets that are sector- and region-specific. While consumers in North America and Europe are placing their bets on innovations like autonomous analytics, APAC consumers are more likely to be interested in 5G/6G technologies, sensor technology, and smart robotics. In general, technology purchasers predict that between 70 and 80 percent of their spending on technology will be allocated to developing technologies by 2030.
India is leading APAC in terms of private tech capital growth, up 31% from the region as a whole (11%). In addition, the top funded verticals are now seen to be Healthcare and Transportation, with Technology, BFSI, and Telecom following.
“Nowadays, businesses in all industries are built on developing technologies. They were able to gain a competitive edge while navigating the extraordinary hurdles of the digital era thanks to it, “NASSCOM President Debjani Ghosh made the statement.
Another NASSCOM study found that tech buyers anticipate the share of emerging technology to triple over the following 4-6 years due to increased productivity, improved customer experience, and a quicker product development cycle.
Top business goals for IT purchasers will include autonomous analytics, edge computing, 5G/6G, and deep learning. These are just a few examples of the major technologies. However, for technology companies, regional and technological supplier preferences vary. While mid-size companies and digital firms are selective on big bets, focusing either on a small number of emerging areas or going deep in select technologies, big companies are diversifying their bets by concentrating both on technologies with founded use cases (5G/6G) and investing in budding technologies to gain leading position (Deep learning and Computer Vision).
Going forward, it will be intriguing to observe how corporations will stake their claims on cutting-edge technological advancements and how they will lead the tech revolution for the benefit of society as a whole.