EXPERT SURVEY ABOUT TECHNOLOGY INTELLIGENCE
Status quo and insights ..
What role should technology intelligence play for innovation success in our digital age? How should the identification of early stage tech and innovation business opportunities be facilitated? We asked our EARLY BRANDS clients and partners worldwide to share their thoughts with us. More than 80 top decision makers of leading companies gave us their valuable insights. This piece of research was supported by a master thesis from the University of applied sciences in Hamburg.
Disruptive innovations have one in common: From the first steam engine spiritedly named Adler (German for ‘eagle’), to drones and hyperloop trains from Elon Musk, to digital music streaming services like Spotify and financial advices from robots: New technologies and innovative processes have the power to quickly turn whole markets upside down and entirely restructure industry structures.
Consequently, our latest expert survey about the role of technology intelligence examines three questions:
- How important is technology intelligence for companies business success today?
- How is technology intelligence currently organized and executed?
- What do leaders perceive as key challenges concerning technology intelligence?
The key results show that technology intelligence is perceived of increasingly high importance for companies from different sizes, markets and sectors:
- About 90% of the business leaders consider that “technology intelligence” is vitally important for the future success of their entrepreneurial activities
- More than 65% state that technology intelligence is highly important for successful decision-making
- About 80% assume that the importance of technology intelligence will strongly increase within the near future
Most of the respondents use technology intelligence have a clear perspective on the value of technology intelligence:
- For surveyed companies, the proactive identification of new technological opportunities is the most important value of technology intelligence
- Moreover the avoidance of bad technological surprises and risks is associated with technology intelligence
- About 90% of respondents quote that technology intelligence is generating knowledge for new innovations and business opportunities – and is from high importance for their fsuccessful business development
In a nutshell: EARLY BRANDS clients and partners classify technologies and technology intelligence as a catalyst for their business success in our digital age. Their aim is to early anticipate which technology developments will drive the business success of tomorrow. That enables them with their teams, us and else valuable tech and innovation partners to proactively shape the future.
However, what do top decision makers perceive as main challenges regarding successful technology intelligence?
- In more than 50% of the surveyed companies, technology intelligence is perceived as difficult. Key reason is the increasing complexity and dynamic of technological developments and innovations
- The constantly increasing amount of information and knowledge makes it hard to capture that matters – state more than 50% of the decision-makers
- Especially lack of time and missing people resources cause bottlenecks, and make internal technology intelligence difficult to organise and successfuly execute
In sum, it turns out that leading companies are faced with a couple of severe internal as well as external challenges concerning successful technology intelligence. It’s hard for most of them to proactively identify innovation and technology opportunities in a continuous way.
How to deal with this? Technology topics like blockchain, artificial intelligence, virtual reality, 3D printing or wearables are a great starting point for discussions on “how to play technology intelligence for early stage business opportunity creation “.
Let’s take technology intelligence what it is: A great chance to collaborate, early capture and exploit valuable opportunities for success in our fast changing world. Our learning from EARLY BRANDS? Successful technology intelligence is about people. And it makes fun. We from EARLY BRANDS Innovation & Technology Consultants experience this every day with our great colleagues, clients and technology partners world-wide: From tailored innovation and tech scouting, analysis of business relevant technology developments, to the establishment of collaborative technology intelligence with employees and business partners like startups and tech companies.
Catch the Future…!