Emerging Technologies in Europe
European organizations dedicated 15% of their total IT budget to emerging technologies in 2021. This shows the importance of emerging technologies to organizations’ innovation and the role of these solutions in helping businesses cope and thrive during a crisis.
Based on the number of organizations adopting an emerging technology or planning to in the next 2 years, it is possible to outline an overall picture of the emerging tech market.
to adopt the technology in the next 24 months # of European organizations currently adopting the technology
Next wave of innovation (or long-term maturity horizon) promising to bring a real revolution and disruption
Technologies with above-average level of adoption. Can be safely implemented in daily business but are still changing at a fast pace
Technologies with high level of adoption that will reach their maturity in the short term
Acronyms: AI - Artificial Intelligence; AR/VR - Augmented Reality/Virtual Reality; BCI - Brain Computer Interface; FaaS - Function as a Service; HUI - Humanized User Interface; IoT - Internet of Things; IPA - Intelligent Process Automation; NLP - Natural Language Processing
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We have identified three main features that a technology needs to coexist in order to be defined as emerging technology
Early maturity stage
The technology needs to be in an early stage, meaning that:
- It is beyond the conceptual phase
- It is still in the development phase
- It already has a real business application
Changing the status quo
The technology must be able to change the status quo. It must be able to provide new way of working and living.
For example, industrial AR/VR solutions. Which are changing the way how employees are carrying out maintenance processes in manufacturing. And how training in the healthcare sector is provided, for example surgical training.
Broad but still uncertain impact
We either refer to broad impact in terms of the industry scope, or broad in the number of applications it has in the same industry.
Those applications are, however, uncertain, meaning that they can be either uncertain in the outcome, or in the fact that they bear some potential risks.
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