Emerging technologies such as data & analytics, artificial intelligence and blockchain have experienced a big boost in the past few years. Companies around the world and in Switzerland are increasingly recognizing that the convergence of these new technologies can play a pivotal role in a company’s success. KPMG takes a look at promising technologies within the scope of its most recent campaign entitled Clarity on Emerging Technologies.
Cloud solutions, data analytics, artificial intelligence, blockchain and 5G – in today’s world, no forward-looking enterprise can afford to ignore technology-related issues. This is one of the insights offered by the Global Emerging Technologies Survey conducted by KPMG International. Nine hundred business and technology executives of Global 2000 enterprises were surveyed last year about their technology-related perspectives and plans. The amount of interest expressed in emerging technologies is enormous: 80 percent of the companies are already investing in emerging technologies or are planning on doing so. Nearly 60 percent of executives indicated that the pandemic has given digital transformation another boost. And more than half of those surveyed cited cloud migration as an absolute priority.
“We’re seeing businesses express an enormous amount of interest in technology-related issues in Switzerland, as well,” says Mark Meuldijk, Partner and Head of Data & Analytics and Emerging Technologies at KPMG. “That’s a good thing, too, because enterprises have to keep up with the times so they can identify the opportunities and risks presented by digitalization. Companies that adopt a strategic and holistic approach to digital transformation can carve out a more long-term competitive edge and operate profitably on a sustained basis.”
Switzerland certainly has the right conditions in place for enterprises to benefit from digitalization. It was ranked the world’s most innovative country in the World Intellectual Property Organization’s (WIPO) Global Innovation Index 2020, for example, with the country’s climate of innovation attracting tech giants to open up branch offices in Switzerland.
Efforts to foster a technologically innovative environment have already yielded considerable success. In the space of just a few years, for example, the Canton of Zug has emerged as a major blockchain hub known as Crypto Valley, which is home to more than 380 blockchain businesses. Renowned centers of learning and research such as ETH Zurich and EPFL in Lausanne also regularly claim top spots in international university rankings. They work together with other institutions to train the specialists so urgently needed for digitalization. All this means that conditions are ideal for local companies to leverage the opportunities opened up by digitalization.
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