Failure of businesses to embrace latest technology trends will be to their peril, says expert

Failure by business and industry leaders to understand the latest technology trends and embrace them would ultimately lead to the failure of their businesses, says enterprise architecture (EA) expert Nishantha Hettiarachchi.

Addressing the National IT Conference organised by the Computer Society of Sri Lanka (CSSL) under the title ‘Digital Technology Trends beyond 4.0’ at the Shangri-La Colombo recently, Hettiarachchi said: “CEOs want growth, digitalization and efficiency. From COVID-19 to economic crises, organizations are constantly challenged by unexpected events. But the promise of using digital business to thrive and outperform the competition during these disruptions remains clear.”

Hettiarachchi, who is also the Director – EA at Sysco LABS, said that organizations must maximise the value of technology to take their business into the future. He elaborated on 12 technology trends forecasted by international consulting company Gartner. These trends would act as force multipliers of digital business and innovation over the next three to five years, he said.

Hettiarachchi highlighted four technology trends that will help organizations maximise the value they create, in the future, including ‘Distributed Enterprise’, ‘Total Experience’, ‘Autonomic Systems’ and ‘Generative AI’.

“With various trends out there, all of us need to be aware and prioritize the correct IT strategies for the growth of our organisations,” Hettiarachchi said, adding that technologies can enable companies to win business and market share.

Sysco LABS was the Strategic Partner for the National IT Conference, themed ‘Digitally Enriching Lives’, that witnessed key ICT decision-makers from private and public organisations coming together to contribute to the national ICT objective of meeting USD 5 billion in ICT exports by the year 2025. This year’s edition featured more than 30 local and global speakers and a series of activities, including the Digital Investment Summit and CSSL Awards.