New research from Accenture finds that generative AI and other rapidly evolving technologies are ushering in a bold new future for business as physical and digital worlds become inextricably linked.

The meteoric rise of ChatGPT has captivated the world’s attention to the power of generative AI to augment human capability. Accenture estimates as much as 40 per cent of all working hours will be supported or augmented by language-based AI. Among business leaders, 98 per cent of respondents agree AI foundation models will play an important role in their organization’s strategies over the next three to five years.

“The next decade will be defined by three mega technology trends—cloud, metaverse, and AI—which collectively will collapse the distance of our digital and physical worlds,” said Paul Daugherty, group chief executive of Accenture Technology. While generative AI will have a far-reaching impact, leaders must dive in now to achieve its full promise, as it will require significant investments in data, people, and customizing foundation models to meet organizations’ unique needs, he added. 

Accenture’s Technology Vision 2023 report further said that advancing human capability as a co-pilot, creative partner, or advisor, nearly all executives agree that generative AI will spark significant creativity and innovation (98 per cent) and usher in a new era of enterprise intelligence (95 per cent).

Digital identity

On the digital identity trend, it said, the ability to authenticate digital users and assets—the foundation for traversing digital and physical worlds—is now seen by 85 per cent of executives as a strategic business imperative, not just a technical issue. 

It also showed that 90 per cent of executives believe data is becoming a key competitive differentiator within organizations and across industries. The feedback loop between science and technology is getting faster, with each accelerating the advancement of the other, in ways that 75 per cent of respondents believe could begin to unlock the world’s grand challenges, it further said. 

“To fully unlock the opportunity of the new reality, companies need to develop an innovation strategy on three pillars – information (IT), physical systems (OT), and science tech (ST) while continuing to invest in skilling across areas like quantum computing, AI, extended reality, creative thinking, and critical reasoning capabilities to name a few,” said Mahesh Zurale, senior managing director, lead — Advanced Technology Centers in India, Accenture. 

Related Topics