Recent massive data breaches have shot piercing questions into the minds of consumers and business leaders alike:
Can I trust technology?
How safe is my data?
Can I trust my business partners with our corporate data?
The answers depend on who you ask, and the company you keep. Tech companies are working feverishly every day to address these issues, but what responsibility do you have as a business leader? How far should your company go to serve and protect your business, your partners, your customers, and your data?
Taking the blame: who is responsible for data security?
The Accenture Technology Vision 2018 report questions how far companies must go to ensure data security while still capitalizing on the vast benefits of digital technology.
The report states, “… The role that companies will play remains an open question. How responsible is a company whose security encryption is broken because of advances in quantum technology? How much blame should a business take if one of its partners uses AI to make decisions in a way that’s biased, or invades people’s privacy?”
Europe is moving toward stricter guidelines with its General Data Protection Regulation (GDPR), but for now, there are no standard answers. That’s why business leaders need to consider these important questions more than ever when dealing with corporate technology decisions regarding partner and customer relationships as well as end-to-end digital platforms.
Trust and technology: can they coexist?
Business leaders need to strike a balance between innovation and security to maintain trust and make the most out of the digital economy today and into the future. While businesses forge ahead with digital pursuits to improve their business and customer relationships, security breaches continue to make headlines. It’s increasingly clear that security, privacy, and societal concerns must be part of the corporate equation.
The Accenture report reveals that leading businesses are already going beyond simply applying digital technologies. Intelligent enterprises are using innovation as well as prepackaged, ready-to-use digital platforms to create deeper, more meaningful relationships to reshape how the world works. According to the report and an SAP and Accenture infographic, five technology trends – highlighting trustworthy and transparent practices – will influence businesses going forward.
Five tech trends shaping the future of business
1. Citizen AI
Artificial intelligence (AI) will have a direct impact on every aspect of society. As AI becomes more entrenched, companies must set and adhere to standards for a trustworthy, transparent, and responsible AI system.
2. Extended reality
Extended reality (XR) delivers immersive experiences that blur the line between real and simulated worlds and will revolutionize everything from workforce training to healthcare and beyond.
3. Data veracity
Accurate, verified, secure data is more critical than ever. Intelligent enterprises must build a “data intelligence” practice to ensure truth in the data that powers their businesses.
4. Frictionless business
Tomorrow’s leaders are enabling partnerships through technology today. Micro-services are the key to scaling and integrating partnerships, and blockchain will be the future of how businesses transact.
5. Internet of thinking
Businesses must redesign their infrastructures, with processing happening at the edge of networks, to support AI, robotics, and other revolutionary technologies to their full potential.
Taking action and making the right decisions
Trust should be the foundation of any (business) relationship. To keep up with your competitors and turn these technology trends into action, business leaders must be willing to ask tough questions and set appropriate guidelines for digital decisions. You need to secure your data and trust your technology, your business partners, and your customer relationships to succeed in today’s digital economy. If you need help, technology companies like SAP and Accenture have already taken action on these trends to enable the intelligent enterprise from end to end. From AI and machine learning to data intelligence and blockchain, leading businesses around the world are taking action to adopt these technology trends. Shouldn’t you?
Learn more about the SAP partnership with the Accenture Intelligent Enterprise Platform.
Read the Accenture Technology Vision 2018 Report: Intelligent Enterprise Unleashed.
View the SAP and Accenture infographic: Unleashing the Intelligent Enterprise: 2018 Technology Trends.