[ad_1]
This audio is automatically generated. Please let us know if you have any comments.
The hype around new technologies may attract some enterprises, but CIOs have a lot to consider before the technology’s testing and implementation phases.
For most businesses, technology is either a utility or an order taker, Forrester research shows. This means that for more organizations the risk and time required to test the new technology is not worth it.
CIOs at these companies must sift through an ever-growing list of technologies to find the tools that produce the best ROI and communicate value to stakeholders.
However, this does not mean that new technologies are not important. According to Forrester data, nearly two-thirds of IT professionals say their organizations will increase spending on emerging technologies in the next year.
As businesses record lower consumer spending power and inflation, there is more pressure on CIOs to make the right decisions.
Forrester weighs some emerging technologies far ahead of others, creating a guide for CIOs to prioritize. In a presentation at last week’s Technology and Innovation North America conference, Forrester laid out the timeline for companies to expect positive ROI from certain technologies.
While companies can expect ROI from cloud-native computing or natural language processing within a year, others, including Web3 or augmented reality, won’t deliver benefits for at least five years.
As companies expect to see ROI from new technologies
| <1 year | 2-4 years | 5+ years |
|---|---|---|
| Cloud-native computing | Edge intelligence | Turingbots |
| Natural language processing | A definable AI | Web3 |
| Smart agents | Extended reality | |
| Technology that protects privacy | Zero-confidence margin |
Source: Forrester
This means that organizations looking for the fastest and most productive ROI can start by implementing and testing cloud-native computing and natural language processing if they haven’t already.
Similarly, businesses should not expect positive ROI from new technologies such as TuringBots, Web3, Augmented Reality and Zero Trust Edge for at least the next five years.
Notably, Metavas didn’t make the top 10 list.
“The reason it’s not on our list is simple: There’s no change,” Brian Hopkins, VP of Forrester’s new technology portfolio, said at the event.
“Metaverse is a concept for the future; it doesn’t exist today,” he said.
Forrester’s advice echoes what industry officials say. According to KPMG data released last month, nearly two-thirds of executives say they are waiting for competitors to invest in and/or adopt alternative technologies before investing themselves.
Hopkins warned businesses about the promise of Web3 technologies and the reality of what they can do today.
“Here’s the deal: No one can tell you exactly what. [Web3] It is,” Hopkins said. “Besides, no one can tell you how to make money with it.”
Last year, Web3 startups generated publicity and raised $30 billion in venture funding, according to Forrester data.
“But this time with all the hype and all this venture capital coming in, buyer beware,” Hopkins said.
[ad_2]
Source link
