Abstract
Emerging technologies like internet of things (IoT), block chain, cloud computing, machine learning, big data analytics etc., are creating a wave of excitement and anxiety in the business community. An independent research in 2016 projected that companies world-wide will spend $3.5 Trillion on IT over the next two years (Gartner, 2016). It also predicted that companies would tend to increase their expenditure on software and services over hardware. Software spending was projected to be up 6 percent in 2016 and to grow another 7.2 percent in 2017 to a total of $357 billion. A proper investigation and analysis is needed to understand the key factors impacting adoption if such technologies in large corporations for extracting maximum benefits out of such initiatives .However, this buzz has not only created the art of the possibility of incorporating emerging technologies but also a bigger problem of enterprise wide relevant adoption. One of the much sought out after techniques in fueling the adoption of emerging technologies in large private enterprises is design thinking. Design Thinking is essentially a problem-solving approach, crystalized in the field of design, which combines a holistic user-centered perspective with rational and analytical research with the goal of creating innovative solutions (Tim Brown, 2009).There are several factors that are crucial to be addressed during the design thinking phase that will significantly impact the successful adoption rate of emerging technologies in companies. This demands that we take a closer look at not only the factors impacting adoption but also the actual design thinking exercise itself that will have a say in the adoption of such technologies. Our exercise aimed at gauging and analyzing the key factors for improved adoption while utilizing the design thinking approach leads us to define our problem statement as follows: What are the key factors for improved adoption of emerging technologies in business functions while incorporating design thinking techniques as a catalyst in large private enterprises?
Highlights
A recent survey and report by Harvard business review reveals that nearly 70% of all internal initiatives in an organization fail (Nitin Nohria and Michael Beer, 2000)
This demands that we examine closely several internal and external factors during design and implementation of such technology initiatives to understand the disparity and mitigate it especially by using design thinking techniques
Why Now? This leads us to the question – Why now? There is a lot of emerging technologies like internet of things (IoT), block chain, AI and machine learning and cloud computing that is redefining the technology landscape of global corporations
Summary
A recent survey and report by Harvard business review reveals that nearly 70% of all internal initiatives in an organization fail (Nitin Nohria and Michael Beer, 2000). This research would like to understand such factors impacting adoption and profitability of technologies on time by using catalyst frameworks like design thinking. Once the factors impacting adoption rate of emerging technologies while using design thinking methods as catalysts are identified, we can examine those factors closely for anomalies. This research will be undertaken in the context of corporations that adopt emerging technologies like IoT, Block chain, Machine learning and cloud computing in the digitized business processes across their enterprise while using design thinking as a catalyst during ideation and brain storming phase. I would like to research the key factors that need to be considered during design thinking approach to ensure maximum profitability, return on investment and adoption of such technologies. The above mapping and analysis leads us to our researchable question: What are the primary factors impacting adoption rate and return on investment in design thinking driven initiatives of emerging technologies that are intended for technology upgrade with benefits involving partial or complete transformation of business processes?
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