The research by Vocus indicates that close to one in three (31%) of businesses intend to invest in IoT over the next two years.
The traditional locked down business applications such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Human Capital Management (HCM) are no the walled off ecosystems they once were.
In digitally transformed businesses, ERP, CRM and HCM applications are gaining a new lease of life with mobile devices, social media and open data projects such as the NationalMap or the NSW Open Data Portal, coming together to deliver richer insights in real-time. C-level executives have greater authority and influence when they combine structured data generated through these systems of record such as ERP with unstructured data from social media and open data.
ERP, CRM and HCM applications will complement new technologies such as artificial intelligence and the Internet of Things (IoT) that Gartner has identified in its 2017 Hype Cycle. Artificial intelligence and IoT are expected to allow businesses globally to exploit new opportunities for problem solving. In the 2017 Hype Cycle, artificial intelligence and IoT are disruptive trends Gartner believes senior executives and IT leaders should understand as it increases business competitiveness in the next five to ten years.
Australian businesses are not far behind in considering artificial intelligence and IoT as revealed in national research conducted by Vocus Communications in Australia. C-level executives and IT managers have identified artificial intelligence and IoT as emerging IT investments that mid to large sized companies have on their radar.
The research by Vocus indicates that close to one in three (31 percent) of businesses intend to invest in IoT over the next two years. IT managers also believe that artificial intelligence and machine learning will play a major role in supporting the growth of Australian businesses.
IT managers predict IoT will impact on their businesses in the next three years. On the other hand, their current network isn’t IoT ready and this poses a significant challenge. 58 percent of businesses see the test in integrating their network with third party systems and 36 percent of them believe their businesses will face obstacles in managing unstructured data from IoT and being able to make sense of it.
How are businesses planning to deal with the collision of structured and unstructured data? What will they need to equip their organisations for the adoption of artificial intelligence and AI in the next 12-24 months? Learn what the strategic priorities are for C-level executives and IT managers by downloading the Vocus Communications report.
Related Articles in this Series
Read more articles in our series on the State of Transformation