Emerging technologies is a common term these days. While self-explanatory, this term belies the tech community’s filters of exclusivity applied to new technologies when it comes time to decide which will go and which will become part of today’s business technology.

To keep up with the rapid innovation and disruption happening across all industries and stay ahead of their competition, CIOs and technology leaders should assess and effectively leverage emerging technologies for their net-new values – whether they are part of the community or not.

Because the world of emerging technology is fast-moving and ever-changing and it is consequently difficult to get a handle on how to leverage various markets for business innovation, it is important to use time well when assessing new technology.

First, don’t assume your business can’t be enhanced by something out there. Many organizations in healthcare and manufacturing are considered early adopters, and they think they’ve seen everything. Don’t immediately write off emerging technologies simply due to a vague conception of where they fit.

The breadth and strength of services is key in defining the next wave of cloud competition. Vendors are well aware of it. While infrastructure-as-a-service is still a growth market, larger-scaling vendors are on the rise and the situation seems unlikely to change rapidly. Vendors have realized that next-generation services are their next avenue for net-new competition.

This change is rapidly shifting the established market dynamics of the cloud, further contributing to a multi-cloud reality.

Emerging technology is unlocking their business potential. Technologies such as blockchain, artificial intelligence (AI), augmented and virtual reality, and the Internet of Things (IoT) are reshaping reality at breakneck speed. This is why emerging technology strategy needs to be a core part of every company’s corporate strategy.

More innocuous technologies that still contain potential include biometrics—face, fingerprint, and retina scans. They are becoming mainstream methods for verifying identity. These methods will form the secure foundation for solutions delivered by IT companies moving forward.

Drones enable robotic automation with fewer geographical restrictions. Opportunities for development and integration are high for this market. It is an exciting time for innovation everywhere. It’s impact on business opportunities and customer experiences contain great potential.

Melody K. Smith

Data Harmony is an award-winning semantic suite that leverages explainable AI.

Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.