Augmented and virtual reality a core tech trend for 2016

Deloitte has published its annual technology trends report entitled "Tech Trends 2016 – Innovating in the Digital Era”. The report, seventh in a row, looks at the technology trends that will disrupt businesses in the next two years, create new opportunities and shake up various industries.

According to the report, augmented reality (AR) and virtual reality (VR) are the two technologies to make the biggest impact this year, with virtual reality probably hitting the $1 billion market value this year.

The Internet of Things is another trend that will shake up the very foundations of business. “Increasingly, forward-thinking organisations are focusing their Internet of Things (IoT) initiatives less on underlying sensors, devices, and “smart” things and more on developing bold approaches for managing data, leveraging “brownfield” IoT infrastructure, and developing new business models,” the report says.

Other trends include right-speed IT, autonomic platforms, blockchain, industrialised analytics, reimagined core systems, as well as the social impact of exponential technologies.

The general theme of new technologies no longer seems to be cost reduction and improved efficiency, but instead focuses on value creation, the report suggests.

"Today, every company is a technology company at its core. Therefore, CIOs are expected to harness emerging trends and innovate to create real business value, all the while running IT operating models and infrastructure efficiently,” says Dave Tansley, UK technology partner at Deloitte.

“We hope CIOs and technology leaders use the Trends to inform their investment priorities, transform their organisations, and help accelerate growth throughout their businesses and the markets they serve. Harnessing and navigating disruptive technologies like augmented and virtual reality, blockchain and the Internet of Things, have the potential to deliver measurable impact to customers, attract and retain employees and bring real innovation to the organisation.”

The full Deloitte report can be found on this link.