Whether you’re worried about the risks or exhilarated by the possibilities, it’s clear that emerging technologies will radically transform the way we all do business. How we can gain and build confidence in the scenarios that will result? Now more than ever, it is critical to keep the conversation about trust going.
By Andreas Eschbach, Partner and Leader Risk Assurance, PwC Switzerland
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The future is already here, and the early adopters of these technologies are growing their businesses at a pace that is fast outstripping their competitors. While the rate of technological development is increasing significantly, even more important is the speed at which technologies are coming together to create a whole new, connected system.
Five Steps to AI Success
By Dr Christian B. Westermann, Partner and Leader Data & Analytics, PwC Switzerland
Tech giants such as Microsoft, Amazon and Google have artificial intelligence (AI) at their very core and harness its potential routinely. Non-tech companies are now beginning to understand the opportunities that AI presents to them chiefly from a productivity perspective. Few are achieving anywhere near the ultimate potential of AI to significantly increase consumer demand via personalised and enhanced products and services. This article outlines the key steps to realising the potential and overcome common barriers based on our experience of helping clients successfully navigate the AI field.Read the article
Capitalising on digital assets
By John Shipman, Partner and Leader Cryptocurrency, PwC Australia
The rise of the joint stock company and regional stock markets transformed capitalism with an entire new mode of production, capture and distribution of value. We are now at a similar turning point with the development of a “crypto-economy” where assets, both physical (e.g. real gold) and virtual (e.g. stocks), are digitised and owner-ship in them is bought, swapped or traded without a centrally governed exchange. Such a development creates profound business opportunities for those organisations ready to embrace the challenge. This article focusses on the key steps to capitalising on these opportunities, based on our experience working with our business partners as well as developing such tools for use across PwC. This includes the key questions that boards need to ask about digital assets and other critical success factors in such board decisions.Read the article
Drone powered future is here
By Adam Wiśniewski, Drone Powered Solutions Leader, PwC Poland
Drones have moved from being a novelty to an indispensable business tool. Over the past few years, drones have been tested and proof of concepts undertaken in almost every industry. Many industries are already integrating drone data into their business models to reduce costs and improve services. We are on the cusp of accelerated adoption of these technologies with the rollout of 5G networks and the maturation of the regulatory framework. This article outlines the key “bottom-line” benefits that early adopters are already achieving and how to achieve buy-in for adopting this technology.Read the article
The past does not define the future
Interview with Andreas Eschbach, Partner and Leader of Risk Assurance for PwC Switzerland, and Rainer Kessler, Partner and Leader Emerging Technology Assurance for PwC Switzerland
As network technologies become increasingly complex, market leaders are relying on technology committees to help them determine their investments in digital initiatives and manage the associated risks. PwC partners Andreas Eschbach and Rainer Kessler share some of the key challenges faced by leaders in dealing with major technological investments and ways of successfully addressing them.Read the article
Collectively, the “All Eyes on Trust” contributors have shown that the future is already here. According to the annual PwC list of top 100 global companies by market capitalisation, tech companies dominate the top ten rankings. Alphabet and Amazon have reached the new stock market record of $1 trillion in value. All six companies in the world worth more than $500 billion are tech firms. They are also some of the most popu-lar companies to work with and will continue to disrupt the way we do business. With non-tech market leaders adopting emerging technologies such as drones, AI and digital assets from currencies to exchanges, the gap between early and late adopters is exponentially increasing.
After 30 years of optimism, accompanied by the exponential adoption of new technologies, signs of scepticism are emerging. Data breaches have occurred across many industries (e.g. Marriott, Yahoo the NHS), and the media has extensively covered some of the most dramatic technology-related setback, such as IBM Watson. The Tesla incident primarily occurred due to the ignorance of the driver, such as false interpretation of the capabilities of the technology (e.g. Tesla crashes).
Building trust doesn’t happen overnight, but loss of trust can be immediate and devastating. The PwC team has helped many companies successfully build trust by guiding them through the key steps at each mile-stone – at the same time minimising the risk of losing trust.
We are happy to share this success and look forward to hearing from you.
Partner and Leader Risk Assurance, PwC Switzerland
Tel: +41 58 792 27 84