Technology outsourcing company Accenture says deployment of the right mix of digital technologies can increase market capitalization of companies by more than $6 billion.
Accenture has evaluated critical technologies such as 3D printing, AI, AR/VR, autonomous robots, autonomous vehicles, big data analytics, blockchain, digital twin, machine learning and mobile computing and the impact on market capitalization.
Before that Accenture surveyed 931 senior executives from large companies across 12 industries and 21 industrial countries to understand how companies deploy digital technologies and the benefits they derive from them.
The Accenture research revealed that 13 percent of executives at more than 900 large companies said their businesses are getting both greater efficiency and business growth through new revenue streams from their investments in digital technologies.
Accenture examined a range of technological combinations that could help companies with sales revenues of $1 billion or more in the automotive, chemicals, consumer goods and services, electronic and high-tech, energy, life sciences and utilities industries significantly reduce their cost per employee and grow their market capitalization.
The combinations of the technologies—including 3D printing, artificial intelligence (AI), augmented and virtual reality (AR/VR), autonomous robots, autonomous vehicles, big data analytics, blockchain, digital twin, machine learning and mobile computing — can have a significant impact.
Companies in the industrial-equipment sector could realize additional cost savings of more than $43,000 per employee if they combined robotics, AI, blockchain, big data and 3D-printing technologies.
Energy companies could gain more than $16 billion in market capitalization if they combined technologies such as virtual reality, big data and AI.
“More than just transforming into digital businesses, companies must completely reinvent their operating models, production and value chains to create more value with digital,” said Aidan Quilligan, managing director and lead for Accenture’s Industry X.0 practice.
Accenture says Industry X.0 defines the digital reinvention of industry, when businesses use digital technologies to transform their core operations, their worker and customer experiences and their business models.
80 percent want new efficiencies, new growth and new experiences to be delivered all at the same time and that 64 percent agree that failure to leverage the components of digital value will cause them to struggle for survival in the future.