ARN, Australia: Senior Director of Cognizant’s Center for the Future of Work Says No Company can Escape the Impact of New Technologies on Work and Business

“Production efficiency enhancements and the development of highly-tailored products are set to help IT spend in Australia’s manufacturing sector hit $3.7 billion by 2019, according to new research by IDC,” writes Leon Spencer of ARN.

He adds, “IDC’s findings come as Cognizant releases research suggesting that the impact of digital transformation in the manufacturing sector, along with retail, banking, insurance, healthcare, and life sciences industries — which today generate over $US60 trillion in revenue or 40 per cent of world’s GDP — could deliver a rise of $US20 trillion, between 2015 and 2018. The study found that, in the Asia Pacific region, respondents expect digital transformations to deliver $US142 billion in net revenue per year by 2018, a total economic impact of $US425 billion across all companies studied in the region.”

“The impact of new technologies on all aspects of business — what we’re now calling “digital” — is so large that there is no way for any of us to escape its gravitational pull,” says Manish Bahl, Senior Director of Cognizant’s Center for the Future of Work. “No company will be able to escape from the impact of new technologies on work and business. The impact will change not only business, but also education and government, and it will also redefine what it means to be a healthy society.”

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