Figure 12: Better information technology transforming business
In your view, which of the following business sectors will be most transformed (for the better)
by information technology over the next 5 years?
(% stating extremely important or very important)
IT and technology
Telecommunications
Entertainment, media and publishing
Retailing and consumer products
Financial services—retail and commercial banking
Education
Life sciences
Financial services—capital markets
Financial services—asset management
Financial services—insurance
Financial services—other
Healthcare services
Manufacturing
Government/public sector
At the same time, new opportunities will be created as business models undergo
change. “It’s the calculus of commerce,” says Mr. Sviokla of Diamond Consulting.
“The speed of innovation is increasing, and so business models are aging faster.”
Over the past decade technology has been at the heart of new models that were
unheard of before the turn of the century—mobile applications, digital music and
video streaming services are but a few examples. “Technology is a new word for
innovation,” says Bruce Rogers, chief brand officer at Forbes. “It has the power to
transform business. It will be a great time for entrepreneurs who can take advantage
of new technology to take on incumbent companies and create new value.”