June 2023 | Report
Tech Trends to Watch
The 5 biggest tech trends and what they mean for your organization—plus actions to take now
Tech Trends to Watch
In this e-book, we dive deep into several distinct yet related trends in technology today:
- A rapidly changing innovation landscape
- The need for methodical, end-to-end due diligence
- The relationship between tech and customer trust
- The business risks of new workforce needs
- The rise of generative AI
We contextualize our market data and research with our perspectives. And we offer advice on how and where to act—helping you keep a finger on the pulse of our digital world.
The three biggest takeaways:
1. Get comfortable taking risks
In the not-so-distant past, organizations that made it to the top of the food chain tended to stay there unless they made a grievous mistake.
These days? No industry is safe from disruption, and no business is safe from market displacement.
That’s why organizations can never stop experimenting with new things: new ways to reach customers, new products and services that fill an unmet market need, new digital technologies that augment your own workforce’s outputs.
These days? No industry is safe from disruption, and no business is safe from market displacement.
That’s why organizations can never stop experimenting with new things: new ways to reach customers, new products and services that fill an unmet market need, new digital technologies that augment your own workforce’s outputs.
2. Learn to separate the fundamentals from the fads
Thanks to the rapid-fire pace of technological change, it can be easy to get caught up in the hype of the latest buzzy thing. But one of the biggest challenges modern businesses face is understanding the difference between what is truly game-changing—and what might be here today and gone tomorrow.
So keep tabs on new developments. Try new things. But never lose sight of the fundamentals: what your customers actually want and need from your business.
So keep tabs on new developments. Try new things. But never lose sight of the fundamentals: what your customers actually want and need from your business.
3. Make bets on the present—but don’t forget about the future
It may feel like we’ve been living with uncertainty—economic and otherwise—for a long time. But in the digital age, uncertainty is the new status quo. It’s time to get comfortable with it.
That’s why leaders can’t let feelings of uncertainty about the near-term lead to decision paralysis. Inaction isn’t a safe bet if it prevents you from making the strategic decisions and investments that will secure your organization’s long-term future and drive business success.
That’s why leaders can’t let feelings of uncertainty about the near-term lead to decision paralysis. Inaction isn’t a safe bet if it prevents you from making the strategic decisions and investments that will secure your organization’s long-term future and drive business success.
Because, in our digital world, the future isn’t a “tomorrow problem.” It’s something to plan for today.
Tech Trends to Watch
Learn what West Monroe leaders say these 5 tech trends mean for your organization, and the actions they recommend taking today.
