A Third of Companies Doubt They’ll Be Able to Keep Pace With Tech

Tech adoption image with TomTom

A new study by TomTom reveals that a third of companies believe that AI will become commonplace within a decade but equally fear they will struggle to keep pace with the rate of technological change.

Technology is evolving at an unprecedented rate and has a very short shelf-life – Google’s AlphaGo has already had four different versions since 2015. This rapid change is, and will in the future, completely transform the landscape of business.

Over the last few years shopping, banking, manufacturing, advertising, communication etc have changed almost entirely due to technological advances. A study by world leading telematics solution provider TomTom Telematics, which surveyed 200 company managers, has revealed that 49% of companies surveyed said they believed that a failure to embrace this change risked their business failing.

Even the way we work is changing due to technology and this reflected in the figures. 22% of businesses think virtual reality will be in common usage within the work environment, while one in five anticipates the prevalence of in-vehicle working due to the development of self-driving cars.

Nearly half of companies (46%) believe remote working has or will become the norm. Currently, this practice is more prevalent with larger companies at 58% than with smaller SMEs (37%).

The Onus Is On Businesses to Adapt

Beverley Wise, director UK & Ireland at TomTom Telematics said: “Complacency can sound the death knell for businesses, companies should be mindful of the pace of change and keep a close eye on the solutions and processes that will help ensure a competitive future – from smart mobility and connected tech to advanced manufacturing and design systems.

“Many of today’s new emerging technologies will disrupt and revolutionise commerce, and in the process become the standard for tomorrow. The onus is on businesses, both large and small, to adapt to this new era of hypermobility and connected working that is being ushered in by advancements in areas ranging from telematics and the connected car to iPaaS and blockchain solutions.

“Such connected technologies and unified communication systems are unshackling workers from traditional working patterns – an empowering development that is set to significantly impact productivity and business efficiency.”

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