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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Set 30 to 40 years from now, the 2014 blockbuster Interstellar tells the story of time travel, black holes and a rather clever farmer who runs a fully automated farm. In one scene he uses his laptop to hack an autonomous weather drone hovering over his fields. We don’t need to time travel, however, to see that autonomous farming or IoT drone hacking are realities today.
We have identified 3 main features that a technology needs to have to be defined as an 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 ways of working and living.
Industrial AR/VR solutions, for example, are changing the way employees carry out maintenance processes in manufacturing, and how surgical training is provided in the healthcare sector.
Broad but still uncertain impact
We refer to a broad impact in terms of either the industry scope, or in the number of applications it has in the same industry.
Those applications are uncertain, however, either in the outcome or in the fact that they bear some potential risks.
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