Home' Forge : Vol 4 No 1 Contents Technology surge brings business
But it also demands greater responsibility towards
Leveraging rapid advances in technology is the greatest
challenge and opportunity for global business. As technology
blurs the lines between business and personal, and reshapes
society, the need for companies to engage responsibly with
customers has never been greater.
This obligation is a recurring theme in Accenture’s insightful
‘Technology Vision 2018’ report. ‘In exchange for the
unprecedented access and influence businesses enjoy today,
people are demanding more responsibilities from (companies),’
Here five key technology trends Accenture identified:
1. Citizen AI (artificial intelligence)
As artificial intelligence (AI) grows in its capabilities – and in its
impact on people’s lives – businesses must move to ‘raise’ their
AIs to act as responsible, productive members of society.
2. Extended reality
Virtual and augmented reality technologies are removing
the distance between people, information and experiences,
transforming the ways people live and work.
3. Data veracity
By transforming themselves to run on data, businesses have
created a new kind of vulnerability: inaccurate, manipulated
and biased data that leads to corrupted business insights, and
skewed decisions, with a major impact on society.
4. Frictionless business
Businesses depend on technology-based partnerships for
growth, but their own legacy systems aren’t designed to
support partnerships at scale. To power the connected
‘intelligent enterprise’, companies must first re-architect
5. Internet of thinking
Businesses are making big bets on intelligent environments
via robotics, AI and immersive experiences. But to bring
these intelligent environments to life, they must extend their
infrastructures into the dynamic, real-world
environments they want to reach.
8 // fast lane
Survey reveals ‘crisis of
The public continues to lose faith in
the honesty of institutions.
Trust in Australian organisations has
taken another battering, according to
the latest Edelman Trust Barometer. Our
institutions are among the least trusted
in the world, and Australia’s rating is
only a few points higher than the least-
trusted country, Russia.
Trust in Australia’s government,
business, media and non-government
organisations (NGOs) fell for the second
year. Each sector was classified as
‘distrusted’ for the first time since 2013.
For all the work done to improve trust,
Australia ranks in the bottom third
globally on this measure.
Just over half of respondents said that
Australia’s system of government was
broken, and almost two-thirds said they
were no longer sure of what was true
in the media. Trust in not-for-profits
lost ground, with just under half of
respondents citing NGOs as trustworthy.
Edelman’s survey, based on a sample
of more than 33,000 respondents
across 28 countries, is among the most
comprehensive and prominent of its kind.
The survey has consistently identified a
public ‘crisis of trust’ in institutions in the
wake of the 2008–09 global financial crisis.
Trust is much more than an organisation
‘feel good’. Trust is a leading indicator of
corporate performance and adaptability.
Organisations that have high public trust
are better able to innovate, take risks and
adapt – and they tend to attract and retain
Penalties for losing public trust can be
severe. Australia’s banking sector, for
example, has been hit with a wave of
regulatory change, and now a Royal
Commission, in part because of a loss of
public trust in financial services.
some good news:
trust in CEOs rose from 26 per cent to 39
per cent, and trust in board directors rose
from 24 per cent to 34 per cent.
These gains, however, are off a low
base, and the decline in trust in
institutions that CEOs and directors run
is concerning. But corporate Australia’s
work to improve trust through corporate
social responsibility initiatives, and by
CEOs speaking publicly on issues like
marriage equality, might be starting to
resonate in the community.
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