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Mid-Sized Business Trends: Technology as a Path to Competitive Advantage
Mid-sized businesses have seized on technology as their chance to gain competitive advantage. 69 percent say that their plan for spending on technology this is is “higher” or “significantly higher” than last year, according to a report by Deloitte.
Anthony Stephan, technology strategy and transformation leader at Deloitte Consulting, said that “private companies are using technology to become more directly intimate with customers through machine learning and predictive analytics, and it’s helping them get much better at matching products and services to their needs.”
More than half of mid-sized companies are already experimenting with cognitive insights, AI, analytics and machine intelligence, particularly for analyzing business outcomes.
What might be less expected are the large numbers of mid-sized companies that say that they are doing investigation in more break-through type technologies, like blockchain. A third of businesses say that they plan to use blockchain to manage their digital records, managing smart contracts and exchanging digital assets, and only 14 percent say that they have no plans to use blockchain.
