INVESTMENT IN NEW TECHNOLOGY DIRECTLY LINKS TO GROWTH, ACCORDING TO BUSINESS LEADERS
Research from cloud-based accounting software platform, bluQube, revealed that AI technologies are no longer a futuristic concept, with 30% of businesses now utilising robotics, augmented reality (AR) and Internet of Things (IoT) technology alongside machine learning.
Innovative businesses are increasingly adopting advanced technology to skyrocket their growth and get ahead of competitors. bluQube conducted a survey of UK business leaders, revealing that nearly half of businesses are already using IoT technologies in their business, second to only mobile technology and cloud technologies for 72%.
Simon Kearsley, CEO of bluQube, says, “So-called “future” technologies, such as robotics or the Internet of Things, have now firmly entered the mainstream for businesses looking to grow and stand out from the chasing pack.”
The research also revealed that 30% of company leaders now report making use of artificial intelligence and machine learning in their business. The most prominent business benefit from digital transformation was cited as improved efficiency for 65.3% of businesses.
AR is also seeing a major spike in adoption, with 21% of businesses now introducing AR into its business models and services. Businesses also reported implementing digital twin technology for 18.7%, robotics for 12.7% and interoperable systems for 12.7%.
These technologies were cited by 78% of business leaders as being responsible for driving growth within their businesses, further pointing to the link between investment in new technologies and accelerated growth.
“By using the right innovative technologies to automate and streamline time-consuming, repetitive tasks, businesses can unlock the true potential of their staff, and free up team time and headspace to focus on the more strategic, involved tasks that drive the business forwards,” adds Kearsley.
Download the full bluQube Digital Transformation Report here.