" I suspect that a number of firms will struggle trying to scale their proof-of-concepts (PoCs) developed this year across different business processes and functions due to the lack of adequate skill set and experience deploying these platforms."
"The other important challenge is related to the management of the massive amount of data, which is generated by IoT systems [and needed for AI to work]. We will see companies invest in the development of what Forrester calls 'systems of insights' in 2017. It is a combination of big data analytics platforms, as well as the processes and skills required to successfully identify the insights from the data, and turning them into actions meaningful to the business. In other words, organisations will need to become insights-driven businesses to benefits from these IoT and AI investments," he added.
Getting comfortable with AR/VR
Thanks to Pokémon Go, businesses are able to see for themselves that consumers are truly ready and receptive towards augmented reality (AR). Moreover, it seems that consumers are expecting such experience when engaging with brands.
Just like AR, virtual reality (VR) is finding its place in other industries besides gaming too. For instance, iProperty developed and rolled out iProperty Goggles in 2015, which uses VR to enable its customers to virtually walk through the room/property.
IDC therefore predicts that 30 percent of consumer-facing companies in APeJ will experiment with AR and virtual reality (VR) as part of their marketing efforts next year. Similarly, Forrester identified AR and VR to play a bigger role in delivering customer experiences and products in the next five years. As computing power and economics continue to improve, AR and VR will be more accessible and effective in 2017.
Gartner went as far as to predict that by 2020, 100 million consumers globally will shop in AR environments. For instance, consumers might walk in a grocery store and see data about products floating in the air in front of the items, said Gartner analyst Daryl Plummer. He also forsees AR devices to get more fashionable and will be easier to wear.
The new value of CIOs in 2017
"If the recent U.S. election reminded us of one thing, is that the days of stability and predictability are long gone. The business environment CIOs operate in will change faster than ever in 2017. Many of these changes will be outside of their control, but their ability to anticipate and respond will make or break their success," said Giron.
"At the heart of this change is the ever-more empowered customer — acting as both an individual consumer and a business buyer — which will spur a domino effect of changes in the business environment CIOs operate in. CEOs will increasingly expect their CIOs to become obsessed about serving customers and steer the firm towards key business technologies that drive speed and agility," he added.
Sign up for CIO Asia eNewsletters.