Businesses already reaping the benefits of smart tech

Businesses are already seeing significant benefits from investing in smart technologies, according to a new research by Avanade.

According to the technology solutions and managed services provider, businesses that have invested in smart technologies (the Internet of Things and generally internet-connected devices) are expecting to up their revenue 31 per cent within the next five years.

At the same time, Avanade has conducted a separate consumer survey, which says that 34 per cent of consumers in the UK believe smart technologies will help them use their work time better.

Here are some of the highlights from two surveys:

Sixty-one per cent of businesses have invested in smart technology and are seeing an increase in revenue and improved customer experience.

Eighty-nine per cent believe using smart tech will help them retain top talent, and 53 per cent have said more highly skilled workers are required. At the same time, there are ethical dilemmas surrounding the increased use of smart tech, and 77 per cent of businesses have not given them enough thought.

On the consumer side, 34 per cent believe smart tech will help them use their work time better, and 23 per cent are certain it will help them work better.

Mark Corley, Avanade UK CTO says: “At Avanade, we are advising businesses on how to integrate smart technologies to build a digital workplace that transforms the organisation and its employees; enabling them to realise business results like increased revenues and improved efficiency. As these technologies drive change, this survey rightly highlights the need for businesses to address a whole new set of ethical and trust questions. Organisations need to also assess how smart machines and humans can best work together to drive productivity and innovation – in a way that will maintain the trust of employees, partners and customers.”