Article Synopsis :
This publication from KPMG shares perspectives from KPMG’s annual survey of more than 750 global technology industry leaders including start-up entrepreneurs and FORTUNE 500 executives, mostly representing the C-suite (85%).
Part 1 of the publication focuses on tech hubs, namely the cities and countries that are leading as top innovation hubs, including each market’s advantages and challenges.
Part 2 of the publication examines disruptive technology trends and barriers to commercializing these technologies, including monetization opportunities and adoption challenges by country, region and industry.
The United States (34%) and China (26%) dominate the tech leadership charts, with over 60% of global technology industry leaders pointing to these two nations as the leaders for developing disruptive technologies able to rock industries with advances in artificial intelligence (AI) and new platform business models. India, the UK, and Japan round out the top five.
Silicon Valley remains the undisputed world leader as the top tech innovation hub. Beyond Silicon Valley what cities are seen as the leading technology hubs over the next four years?
- Shanghai, China
- Tokyo, Japan
- London, UK
- New York, US
- Beijing, China
- Seoul, South Korea
- Bangalore, India
- Tel Aviv, Israel
- Berlin, Germany
‘Innovation Management Trends’ explored in the report include:
- Incentives: What matters to talented people? This year, promotions matter more than cash
- Innovation Metrics: How do organizations measure innovation? Revenue growth and market share are at the top
- Who is leading innovation? This year it’s the Chief Information Officer (29%) followed by the Chief Innovation Officer (27%) and CEO (21%)
- Visionary companies: What company is the leader in technology innovation? Google (28%), Apple (12%), Microsoft (10%), Tesla (9%), Alibaba (6%), Amazon (6%)
- Visionary leaders: Who is the top person driving tech innovation globally? Elon Musk (25%), Sundar Pichai (17%), Mark Zuckerberg (9%), Jack Ma (8%), Bill Gates (5%), Satya Nadella (5%)
The ‘Tech Start-ups Outlook’ section of the report examines growth and hiring plans for tech startups globally. Key findings here include over 75% of start-ups express a strong desire to remain private as key to success and growth. Also, 6% of start-ups plan to hire between 100-499 workers and 2% intend to hire over 500 workers.
In-depth ‘Tech Innovation Perspectives’ are provided on the following countries:
- Canada – Early leadership in AI and fintech propel growth
- China – At the forefront of tech innovation
- France – Waving the French tech fab banner
- Germany – Growing strength in IoT innovation and smart factories
- Hong Kong – Smart city fosters innovation
- India – Start-ups helping to redefine economy
- Ireland – A pro-business and start-up star
- Israel – Using data to fuel cars and crops
- Japan – Robotics seen as fix to labor issues
- Korea – Preparing for the Fourth Industrial Revolution
- Russia – Pushing a digital economy forward
- Singapore – Truly smart city by 2020
- Spain – Digital business models in B2C and social networks reign
- Taiwan – Jumping hurdles to get to new tech
- United Kingdom – A magnet in Europe for tech
- United States – The tech industry global outpacer
While the report underscores Silicon Valley’s tech dominance, a decentralization of power is occurring. In the U.S., eight cities made the cut as potential rivals to Silicon Valley in future. No other country came close to that number, though China excelled with four cities, including Shanghai in first place.
The rise of Asian tech economies is contributing to an increasing shift in power from the western world to the Far East. The biggest change agent is China, retaining its status as the number one challenger to the U.S., with its fast-moving entrepreneurial edge, massive digitally advanced markets and government investment. Japan has established itself as the world’s robotics leader, a status that is likely to be highlighted in the 2020 Olympics in Tokyo. Under new government leadership, India is uncovering an innovative edge, much of it centered on Bangalore, and led by VC and angel investment in start-ups.
No longer enough in today’s corporate environment to dominate in one sector, the global tech leaders of tomorrow are moving rapidly into a broad number of diverse businesses often far from their original corporate mission. Platform companies are at the forefront of this trend.
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Digital Insurer's CommentsPublic clouds from the likes of AWS, Microsoft, Google, and Alibaba make world-class compute capabilities available to anyone with a credit card anywhere on the planet, so we expect the decentralization of innovation, outlined in this report, to continue.
A key takeaway from this report is that the C-suite is increasingly in charge of spearheading innovation initiatives. This makes sense as bottom line financial results, corporate culture and the successful implementation of disruptive new technologies are increasingly linked.
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