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Right combination of tech 'can drive up company value'

Sep 30
Tags: Accenture
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Right combination of tech 'can drive up company...

Accenture has emphasised the importance of businesses finding the right mix of innovative technologies, with research showing that the most effective combination of solutions can boost a company's market capitalisation by more than US$6 billion (£4.5 billion) on average.

The professional services firm conducted an evaluation of ten technologies - including AI, big data, blockchain, machine learning and mobile computing - across various industries, focusing on firms with sales revenues of US$1 billion or more.

While results varied across sectors, they suggested that certain combinations of technologies can have a significant impact on business efficiency and performance.

One example is companies in the industrial equipment sector, which could reportedly achieve cost savings of more than US$43,000 per employee if they combined robotics, AI, blockchain, big data and 3D-printing technologies.

The right mix of virtual reality, big data and AI could help energy firms to boost their market capitalisation by more than US$16 billion, according to the findings.

Accenture carried out the study after initial research suggested that only 13 per cent of executives at more than 900 big companies felt their investments in technology were delivering both increased efficiency and business growth.

Aidan Quilligan, managing director and lead for the firm's Industry X.0 practice, said: "More than just transforming into digital businesses, companies must completely reinvent their operating models, production and value chains to create more value with digital.

"But our research yields a concrete solution: what we call Industry X.0. It's an action plan for becoming more adept at embracing technological change and profiting from it."

Industry X.0 is Accenture's definition of the digital transformation of industry, based on organisations using advanced technology to reinvent their core operations, business models, workplace environment and customer experience.

The firm said there is strong demand for this sort of progress, with a survey of 931 executives showing that 80 per cent of respondents wanted new experiences, efficiencies and growth to be delivered simultaneously.

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Image: iStock/NicoElNino

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