Tech firm bosses fear distruptive innovation impact

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Senior managers at technology companies are becoming increasingly perturbed about their firm’s ability to cope with disruptive technology, it has been claimed.

Research published by KPMG showed that less than one-third of senior executives from global tech companies believe they are “very prepared” to address disruptive innovations.

While 67 per cent say that disruptive technologies are having a positive impact on the industry, 38 per cent of respondents admit that they saw trends coming too late. Conversely, 46 per cent of those who say disruptive technologies are helping their business say they invested in the new technology trend earlier than their competitors.

Graham Pearce, Technology sector lead at KPMG in the North, said: “In the North we have no shortage of disruptors and this report shows that no business, regardless of sector, is itself immune from disruption.

“This region is home to emerging technologies with Northern heritage such as graphene, as well as health-tech clusters and others, so stands to benefit from the opportunity highlighted in this report on role reversal, as well as the potential threat.”

The biggest concern is competition from outside the industry. Nearly four in five are concerned about non-technology firms becoming technology firms.

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