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Plant Equipment & Hire is South Africa ’ s original earthmoving equipment magazine . Supplying business people in the built environment with information , specifications and trends in equipment , vehicles and related services .
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INSIGHT
In the race to the future , don ’ t forget the people
PwC ’ s annual Global CEO Survey identifies the top global trends that executives believe will transform their business over the next five years , while its 2017 Global Digital IQ Survey identifies the human experience as the most important focus area for companies wanting to stay abreast of technological changes .
PwC ’ s annual Global CEO Survey identifies the top global trends that executives believe will transform their business over the next five years , with technological advances identified as the primary trend to keep an eye on .
The report provides insight into preparing for the technological breakthroughs megatrend and identifies eight technologies , at varying degrees of maturity , with the potential for the most crossindustry and global impact over the coming years : artificial intelligence , augmented reality , virtual reality , blockchain , drones , industrial internet of things ( IIoT ), robots and 3D printing .
All these technologies are already starting to make their mark in one way or another in the mining and quarrying industries , and some are destined to completely change the way in which the industry functions , even if this won ’ t be for a while yet .
PwC believes that these technologies will shake things up — some beneficially and others by creating challenges that will need to be addressed . Ultimately , executives must devise strategies for dealing with these new technologies , which are already reshaping the way business is approached at all levels .
The report highlights the importance of CEOs turning these technologies into strategic advantages , positioning technology as a ‘ competitive weapon ’ of sorts . PwC proposes that the tracking , evaluation and development of an action plan for emerging
technologies should be an integral component of corporate strategy .
Three important questions are highlighted that must be addressed to harness the best new technologies properly and effectively ; they are : 1 . Does the company have a sustainable innovation strategy and process ?
2 . Has the company quantified the impact of new technologies and how long will it take to do so , if not ?
3 . Does the company have an up-to-date emerging technologies road map in place ?
However , the report also points out that while there is significant potential for increasing operational efficiency and competitiveness through these technologies , the potential consequences to both the workforce and the economic and legislative environments mean that companies must tread carefully when outlining their strategy for dealing with the changes that such technologies may bring .
The human experience Globally , the focus on innovation and technology – where it is going and what this means for the future of specific industries – is at the top of people ’ s minds . But while technology is inarguably important , it is just as important not to lose focus on its purpose .
PwC ’ s recently published 2017 Global Digital IQ Survey urges companies not to forget that technology is intended to help people . It identifies the human experience — the interaction between people ( both customers and employees ) and digital technologies — as the most important focus area for companies wanting to stay abreast of technological changes and thrive in a world of rapidly advancing and disrupting technology .
While companies need to be aware of emerging technologies and be willing to embrace them and what they mean for the future of business , it is equally important – if not more so – that they combine this technology focus with an understanding of how these technologies will change not just operations , but interactions . Staff need to be trained to deal not only with the advancing levels of technology , but with the best ways to integrate this technology into their daily operations , whatever area they work in .
Adapting to new technology involves more than simply looking at what is available and incorporating it into our business . It means looking at the implications of this new technology not only from a financial and business perspective , but from a human perspective . Not everyone reacts the same way to change , particularly when it comes to advancing technology , and we need to be sure that in our race to embrace new avenues of business , we don ’ t abandon existing ones before their time .
40 _ QUARRY SA | MAY 2017