Six out 10 companies in the world expect to grow over 10 per cent in the next three years, says a new study from Tata Consultancy Services (TCS). This global survey benchmarked large companies in their “Business 4.0 growth” and transformation journeys, by mapping their adoption of four critical business behaviours – driving mass personalisation, creating exponential value, leveraging ecosystems and embracing risk.
The study, titled “Winning in a Business 4.0 World”, showed that almost one in 10 survey participants or “Leaders” have adopted all four behaviours.
Leaders are three times more likely than “Followers” — nine per cent of participants that have not yet adopted any of the Business 4.0 behaviour — to have embraced Artificial Intelligence, Blockchain and Internet of Things (IoT) technologies, and twice as likely to have embraced automation.
“The study reveals a strong link between Business 4.0 maturity and technology adoption. Leaders are more likely than other participating companies to have driven digital growth and realized double digit revenue gains,” said K. Ananth Krishnan, Chief Technology Officer, TCS.
“Agile methodologies, cloud, automation and AI are examples of tech pillars that enable leaders to change course and adapt to shifting market dynamics much better than companies with inflexible ‘idea to execution’ timelines of months or years,” Krishnan added.
The findings are based on a survey of senior business decision makers from more than 1,200 large enterprises spanning 11 industries and 18 countries.