The business landscape is being reshaped
Emerging technologies
Technologies like blockchain, artificial intelligence, augmented and virtual reality, and the internet of things (IoT) are rapidly transforming our world. At PwC, we help you harness these advancements to lead the change, not just adapt to it. Together, we explore, design, test, and implement new services and solutions driven by the latest technology.
We’ve identified the essential eight’ technologies that matter the most for businesses today. In China, we focus our research and development to support our clients on AI, Blockchain and IoT.
In 2016, we first identified the Essential Eight, settling on the crucial shortlist after analyzing more than 250 technologies in our labs. Since then, much has changed. Several of the Essential Eight have advanced so quickly that the value propositions they offer business have changed. Still other, newer technologies are now becoming instrumental. To help businesses assess where to direct strategic investments, we’ve updated the Essential Eight and organized them into three categories that reflect how business leaders can prioritize their efforts: expand, evaluate and experiment.
Artificial Intelligence and Internet of Things (IoT)
Essential to expand
These technologies are already already making a big impact in many businesses, and the potential for further growth is significant. If you’re not yet considering a broader rollout, now’s the time to start.
Blockchain, virtual reality, augmented reality, advanced robotics
Essential to evaluate
While these technologies are being used in more and more scenarios, some companies might have put them on hold. It’s worth reassessing their role in your strategy, especially with the latest developments.
Quantum computing, neuromorphic computing
Essential to experiment
These technologies hold great promise and are evolving quickly, though they’re not yet widely adopted. It’s crucial to start exploring their potential impact on your business or industry in the coming years.
While each of the essential eight technologies is at a different stage of development, they all play a crucial role. They’re coming together to create a bigger impact. A single technology might tackle a business issue, but combining it with others can enhance the solution. When used collectively, these technologies can unlock new value from the data they gather or generate.
A shared characteristic of the essential eight is the necessity of trust. Leaders and stakeholders must trust that the technology will deliver on its promises, manage risks, meet compliance standards, and align with company values. Employees also need to trust that these technologies will enhance their roles, not replace them.
Adopting the right strategy for the essential eight can foster trust with your stakeholders, focus on key investments, and encourage the integration of these technologies, leading to significant value.
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