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NYC Companies See the Value of Emerging Tech, But Are They Ready?

In today’s burgeoning New York City tech ecosystem, companies are prepared to leverage emerging technologies. AI and IoT are among the most important technologies organizations plan to use in the next three years, but are they prepared to navigate future changes? Check out the findings from a joint research study from Tech:NYC and Accenture.

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NYC Companies See the Value of Emerging Tech, But Are They Ready?

  1. 1. | COPYRIGHT © 2018 ACCENTURE. ALL RIGHTS RESERVED. ACCENTURE, ITS LOGO, AND HIGH PERFORMANCE DELIVERED ARE TRADEMARKS OF ACCENTURE. COMPANIES ARE AT THE FOREFRONT OF LEVERAGING EMERGING TECHNOLOGIES. BUT HOW PREPARED ARE THEY TO NAVIGATE FUTURE CHANGES? NYC
  2. 2. | COPYRIGHT © 2018 ACCENTURE. ALL RIGHTS RESERVED. ACCENTURE, ITS LOGO, AND HIGH PERFORMANCE DELIVERED ARE TRADEMARKS OF ACCENTURE. 60%AI is number one 46%IoT 39%Blockchain ARTIFICIAL INTELLIGENCE (AI) BOTH LARGE COMPANIES AND STARTUPS AGREE THAT IS THE MOST IMPORTANT INNOVATION OVER THE NEXT THREE YEARS. 57% AI is number one 17% XR (AR/VR) 16% Blockchain For large companies (> $1B): For startups (< 20 employees):
  3. 3. | COPYRIGHT © 2018 ACCENTURE. ALL RIGHTS RESERVED. ACCENTURE, ITS LOGO, AND HIGH PERFORMANCE DELIVERED ARE TRADEMARKS OF ACCENTURE. TECHNOLOGY BOTH LARGE COMPANIES AND STARTUPS BELIEVE THAT IT IS EXTREMELY IMPORTANT TO BE AT THE FOREFRONT OF LEVERAGING EMERGING BUT FEW FEEL AS IF THEY ARE PREPARED. For large companies: For startups: 60%of respondents believe emerging tech is extremely important to their future; however, only are extremely prepared. 35% 51%of respondents believe emerging tech is extremely important to their future; however, only are extremely prepared. 35%
  4. 4. | COPYRIGHT © 2018 ACCENTURE. ALL RIGHTS RESERVED. ACCENTURE, ITS LOGO, AND HIGH PERFORMANCE DELIVERED ARE TRADEMARKS OF ACCENTURE. COLLABORATIONWILL BE KEY TO LEVERAGE NEW TECHNOLOGIES, COMPANIES WILL NEED TO BUILD NEW RELATIONSHIPS. When asked if large companies and startups collaborate with a larger ecosystem focused on emerging technology – Large companies: Startups: 88%said“yes” 51% said“yes”
  5. 5. | COPYRIGHT © 2018 ACCENTURE. ALL RIGHTS RESERVED. ACCENTURE, ITS LOGO, AND HIGH PERFORMANCE DELIVERED ARE TRADEMARKS OF ACCENTURE. BOTH LARGE COMPANIES AND STARTUPS BELIEVE THAT BEING LOCATED IN NYC HELPS THEM STAY AT THE OF EMERGING TECHNOLOGY. FOREFRONT 54%For startups – having access to diverse industry expertise (54%) is the number one reason. 51%For large companies – having access to technology talent and skills (51%) is the number one reason.
  6. 6. | COPYRIGHT © 2018 ACCENTURE. ALL RIGHTS RESERVED. ACCENTURE, ITS LOGO, AND HIGH PERFORMANCE DELIVERED ARE TRADEMARKS OF ACCENTURE. EMERGING TECHNOLOGY WHEN LOOKING AT 47%of respondents at large companies strongly agree that emerging technology will transform their industry in the next three years. 64%of respondents from startups strongly agree that emerging technology will transform their industry in the next three years. Smaller companies are more bullish:
  7. 7. | COPYRIGHT © 2018 ACCENTURE. ALL RIGHTS RESERVED. ACCENTURE, ITS LOGO, AND HIGH PERFORMANCE DELIVERED ARE TRADEMARKS OF ACCENTURE. THE MAJORITY OF NYC ORGANIZAITONS PLAN TO DEDICATE OR MORE OF THEIR IT BUDGET TO EMERGING TECHNOLOGIES IN 2019. GROWTH 20% PLACING A PREMIUM ON
  8. 8. | COPYRIGHT © 2018 ACCENTURE. ALL RIGHTS RESERVED. ACCENTURE, ITS LOGO, AND HIGH PERFORMANCE DELIVERED ARE TRADEMARKS OF ACCENTURE. RESULTS 80% 5% RAMPING UP FOR MORE THAN SAID THAT THEY EXPECTED AT LEAST A POTENTIAL REVENUE IMPACT PER YEAR ON AVERAGE FROM APPLYING EMERGING TECHNOLOGIES TO THEIR BUSINESS. FOR A BILLION DOLLAR COMPANY, THAT EQUATES TO $50 MILLION. NO SMALL CHANGE!
  9. 9. FOR MORE INFORMATION, PLEASE CONTACT: John Connolly Accenture +1 917 452 0837 john.a.connolly@accenture.com ACCENTURE IN THE UNITED STATES Accenture is a leading professional services company providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Serving 95 of the Fortune 100 and more than 70 percent of the Fortune 500, Accenture employs an innovation-led approach to help clients imagine and invent their future. The company has more than 50,000 people and operations in 42 cities in the United States. Accenture was named one of the leading companies to Change the World by Fortune magazine, and is consistently recognized as a FORTUNE Blue Ribbon Company. With an unwavering commitment to inclusion and diversity, the company appears regularly on FORTUNE’s 100 Best Companies to Work For and DiversityInc’s Top 50 Companies for Diversity lists. Visit us at accenture.com/US. ABOUT TECH:NYC Tech:NYC is an engaged network of technology leaders working to foster a dynamic, diverse, and creative New York. The organization works with policymakers and business leaders to support a successful technology ecosystem, attract and retain talent, and celebrate New York and the companies that call it home. Tech:NYC represents more than 600 New York tech companies.

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